KPMG, a professional service company, being one of the reputed auditors in India is facing tough competition in talent management from its competitors Ernst & Young, PwC and Deloitte. In order to survive in the market with the best talents, the organisation is revamping its talent management policies concentrating in engaging its employees.
KPMG has come out with the following talent management practices to beat the talent war.
“Higher Purpose”– The employees of KPMG are motivated to share their experience and stories dealing with business and community. In order to encourage more participation, contest has been launched where everybody will be entitled for a paid holiday if at least 5000 stories are submitted. Every staff will get a copy of a book where top 100 stories will be published.
This practice has more to it. Town halls have been conducted where business leaders have shared their inspirational journey with the staffs. A video has been circulated among the employees seeking to share their work which is making a difference in the organisation. These best practices of employees have been framed on a poster given by the HR team. An overwhelming response from 40000 employees has been received.
“Connect” – For promoting mentoring and hand holding culture in the organisation, small groups of employees have been formed to get connected with other employees across the organisation.
No Ratings in Appraisal – The system of giving ratings to the employees in the performance appraisal process has been abandoned for a change. It has been replaced by immediate feedback system from the reporting managers. The top performers will get exceptional hikes as bonus to retain the best talents.
People Management Leaders Policy (PML) – It is a work life balance policy focusing on the welfare of the employees. For example, promotion of recreational club activities such as subsidized sporting activities including yoga, golf and tennis. This will result into lesser absenteeism, and effective utilization of leaves. A “Respect for Leave” campaign instills in KPMG employees the understanding to value and utilize their leave.
Job Rotation: The new recruit from campus will undergo a job rotation where they will be put into various business lines assessing their area of interest and performance.
“Leaders Engaging Leaders” – Top 60 managers will be identified who will be mentored by the top management leaders such as the board of directors, and national managing partners. The managers will shadow the top leaders understanding various lessons for managing better business.
Social Service: The employees will be encouraged to participate in various social causes such as mentoring students, helping build homes, supporting disaster relief efforts, sports-related coaching for children, educational and cultural activities as well as tree planting drives. This participation of employees will give a different meaning to their work life.
Internal Surveys: Two surveys will be conducted annually for the employees to identify the engagement levels. The first survey will aim at finding out the engagement level of the employees and the second one in analyzing the satisfaction levels in the benefits which are being availed to the employees.
Mums at Work Program – under this program young mother will undergo regular health checkups, stress management workshops and talks on parenting will be offered.