Building ‘people-first’ policies and values strengthens organisational culture: Amanpreet Kaur, CRED
In these times of upheavals and uncertainties with the looming recession, wage inflation, mass layoffs and emerging phenomena including quiet hiring, rage applying, loud quitting, etc., organisations are strategically looking towards new ways of hiring, attracting and retaining top talent.
With one of our very first conferences for this year, People Matters Talent Acquisition Conference 2023, we urge leaders to look at these times of volatility and introspect as they equip themselves and their organisation with the tools to make bold moves. We believe the time to win talent is now so get your A-Game on with Amanpreet Kaur, who is the Lead-Talent and Culture at CRED and one of our keynote speakers set to share insights during a session at the conference .
In an exclusive chat with us ahead of the event, Kaur, who has over 15 years of experience leading talent and culture, spoke about why we need to place the right people in right seats, the secret sauce to creating a positive work environment, the importance of building “people-first” policies and values, the trifecta to developing employee engagement, the role of trust in designing perks and benefits for employees, and why we need to enable and integrate technology to drive the human element.
Excerpts from the interview:
When we talk about great organisations and talent, we usually hear leaders say, ‘Building teams and systems with the right people and the right skill sets’ is critical. Can you tell us what the saying means in today’s world of work?
In today's business environment, organisations are navigating rapidly changing technology and increased competition for great talent, which requires the talent function to intervene, helping set up teams and systems that can adapt and innovate in order to remain successful.
Building teams with the right people and skill sets is critical to achieving this goal. It means recruiting, hiring, and developing individuals who have the knowledge, experience, and abilities needed to perform well in their roles, and who also fit in with the organisation's culture and values.
In addition, it also means creating systems that support and empower individuals to work together effectively, through clear communication channels, cross-functional collaboration, and opportunities for professional development. This includes implementing tech and tools that can streamline processes, increase efficiency, and adapt to the present and future of work.
In short, a well-rounded and diverse team that can work together seamlessly, supported by appropriate systems and tools, can help organisations achieve their goals and drive success.
At CRED, which has been honoured with the tag of Top startups 2022 by LinkedIn, how are you, as an organisation, winning talent as you bring your A-Game on?
CRED's focus is on creating a positive work environment for the team members to reach their potential and achieve the company's goals. This approach has been shown to improve collaboration, morale, productivity, problem-solving, and customer satisfaction.
We have a strong organisational culture that is crucial for growth, with a focus on building "people-first" policies and values such as customer obsession, truth-seeking, delivering outcomes, skin in the game, compounding, earning trust, audacity, solving elegantly, being right a lot, having radical candour, and CRED first thinking, which guides the culture and approach towards creating value for team members.
As I see it, companies must concentrate on three pillars as they increase attention to employees. Firstly, they need to develop an empathic attitude to employees' wellness. This, in turn, will promote "holistic growth" as a core value. Secondly, they need to cultivate an environment that supports learning. Be it any industry, stature, or size, a company’s culture is the cornerstone for employee engagement and growth. Thirdly, they need to develop a culture of growth that promotes continuous improvement and progress, leading to compounding effects on personal development, wealth, and ownership. It encourages employees and organisations to strive for ambitious goals.
Your firm has always believed in the notion of trust being earned and it is reflected in some of the initiatives you have taken for your employees including offering ESOPs, Accelerated Wealth Programme, no limit on leaves, availing salary in advance for medical emergencies, etc. As you look ahead in 2023, what are some of the new initiatives you are looking at, to attract as well as retain talent?
Trust is crucial for retaining talent as it leads to a positive work environment, employee commitment, and open communication. Along with trust, policies and benefits can help retain talent in an organisation by providing employees with a sense of security and support. At CRED, we have regular policy updates wherein we seek feedback in order to continually provide employee satisfaction, increase employee engagement, and ensure that the policies are aligning with our organisation’s culture and values.
Our focus is to continue with the existing programs and scale them for the organisation. We aim to build leadership capabilities and scale our talent density programs. With the shift from virtual to in-person work environments, individual requirements vary from person to person. In 2023, by seeking feedback, regular policy updates and improving customised benefits, we continue to attract and retain talent.
As a talent and culture leader, what is your advice for leaders, who are marrying tech with talent in the talent acquisition space?
My advice for leaders who are integrating technology into the talent acquisition process would be to keep the human element at the forefront. While technology can certainly streamline and improve certain aspects of the talent acquisition process, it is important to remember that hiring is ultimately about people.
Here are a few specific things that leaders can do to successfully marry tech with talent in the talent acquisition space:
- Use technology as an enabler - With the aid of technology, we can enhance various functions of talent and culture such as automation of recruitment processes, wider reach to the right talent, and feedback mechanism tools to make accurate hiring decisions.
- Leverage data for informed decision-making - Technology can provide valuable data and insights that can inform the talent acquisition process, but it is important to remember that data should not be the sole basis for decisions. It is still important to use human judgement and take into account other factors such as cultural fit and potential for growth.
- Foster collaboration and communication - Technology can facilitate collaboration and communication, but it is important to make sure that all team members are on the same page and are able to effectively communicate with one another.
Overall, the key to successfully marrying tech with talent in the talent acquisition process is to find the right balance and use technology as a tool to support and enhance the human elements of the process.
While AI has the power to take over certain jobs in the new world of work, we still need to understand how we can retain, attract, nurture and develop the remaining talent, as we keep them motivated and engaged. To learn more from leaders involved in the talent acquisition space, join us at People Matters Talent Acquisition Conference 2023 on February 9 in Bengaluru, where we discuss the many ways of winning talent. Avail our coupon code PMTAC15 to enjoy the benefits of the Freedom Sale. Register now!