Article: Diversity for improving business metrics

Learning & Development

Diversity for improving business metrics

In order to leverage the potential of a diverse employee base, Aegis framed a diversity model that provided its employees access to progress, development and opportunities
Diversity for improving business metrics
 

Aegis leverages the diverse experiences, aptitude, talent, ideas and philosophies of its global team

 

At Aegis, diversity goes beyond the concept of equal employment opportunity. The company intends to serve, value, and make the fullest possible use of the diverse backgrounds, skills, talents and perspectives of all of its employees. Acknowledging the varied perspectives and approaches brought on the table by diversity, Aegis embarked on the journey of diversity in 2009. Since then the company has been able to integrate its philosophy on diversity successfully across its business strategy and practices.

Business need to channelize diversity

Having grown in a multi-fold way into a global organization with footprints across nine nations, diverse nationalities, culture, languages, customs and traditions have been absorbed in Aegis’ system. Thus, a focused approach was essential to leverage the potential of this diverse resource base in order to channelize its efforts in a concrete way. A diverse workforce would help understand the foreign markets and its customer needs, enhance customer service thus leading to customer satisfaction, adapt to new market changes and increase organizational flexibility thus leading to enhanced competitive advantage. Thus in anticipation of these needs and changes, Aegis institutionalized the Diversity Framework.

Building the six-dimensional diversity strategy

Owing to the above needs, Aegis first looked at a two-dimensional diversity framework including age and gender diversity. However, the model had a limited approach and focus towards diversity. Therefore, the company framed a unique and contemporary six-dimensional diversity framework encompassing six different facets of diversity and inclusion. By adopting six streams of diversity, Aegis endeavored to craft a work atmosphere that would provide every employee access to progress, development and opportunities. By constructing an inclusive workplace, the company pursued to leverage its global team of people who are rich in diverse experiences, aptitude, talent, ideas and philosophies. Both of these strategies were aimed to create enhanced employee motivation and business growth.

The six-dimensional diversity framework was rolled out as a change management initiative through which Aegis created an organization structure that empowered diversity & inclusion. The program involves top-to-bottom leadership including the Global CEO who is the executive sponsor in the program and the Global CPO, Mr SM Gupta, who is the organization change leader towards the diversity movement. Diversity Managers were nominated at the corporate level as well as at the business/country level. Their role was of an organizational change agent to lead in diversity related interventions and coordinate for the related initiatives. Appropriate budgets were sanctioned to enable accessibility for persons with disabilities, which is one of the most important facets of Aegis’ diversity model.

Taking diversity forward

Aegis has experienced an exponential outcome of the adopted framework. The company has witnessed a significant revenue and profit growth, including global presence and diverse customer base. There has also been an increase in the market share and customer satisfaction, and the average tenure of top clients has expanded. There has also been better employee relations climate in the company; the overall attrition has reduced and the company has been positioned as ‘Employer of Choice’. All of this has led to improved corporate culture and competitive advantage in labour markets. Moreover, presence of multiple voices has led to creation of new ideas, new services, new products, and out-of-the-box thinking.

In order to make sure that the learnings from the diversity model are captured, Aegis conducts an annual Employee Engagement Survey and Diversity Scan Survey which enables the company to measure its impact on overall business strategy. Further, the company also runs a diversity tracker through which all facets of diversity are monitored regularly against the commitments laid in the six dimensional diversity model. Based on the results of these surveys and trackers, Aegis aims to design innovative practices to attract, hire, train, promote and retain the diverse workforce; allocate budget to further promote accessibility to workplace; and conduct employee sensitization programs.

(Aegis won the L&D League award for the “Best in Diversity” Category)

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Winner’s Response 

It’s a great feeling to receive the award for the “Best in Diversity”. The credit goes to our 40,000 multi diverse workforce. We have a hexagonal model for diversity that goes beyond the conventional emphasis on gender and differently able persons. At Aegis we also focus on indigenous people, mature age people, socially and economically disadvantaged people and culturally and linguistically diverse people.

Our metrics for success includes client satisfaction and feedback and an increase in employee engagement. We have also received external awards for excellence. All of this has enabled us to serve a diverse clientele that has enriched our experience in both, research and innovation. We will sustain the momentum and keep innovating for the future.

 

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Topics: Learning & Development, #RootedinLearning, #LAndDWeek

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