The importance of bolstering employee potential

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The importance of bolstering employee potential

In an environment where companies thrive on multiple factors for sustained growth, talent can be considered the most fundamental one of all. Talent acquisition, development and retention have become factors central to every company’s continued progress. These factors have become more of a strategy to earn a competitive advantage. But acquiring and retaining superior talent are both the results of a company’s effort in developing employee potential. Companies cannot let employee potential stagnate as employee redundancy can eventually lead to the organisation’s obsolescence. Accordingly, companies must invest in upskilling initiatives that help increase employee potential and enable them to contribute better.

At Runaya, every employee is handpicked. Accordingly, we invest in multiple initiatives that help enhance their potential and amplify the positive impact that they can deliver. Let us discuss how employee engagement and development bolsters employee performance along with the organisation, and the initiatives we have in place at Runaya to encourage the same.

Improved performance

Better performance is the foremost objective that businesses can achieve by increasing employee potential. By helping employees upskill and develop the capabilities to deliver dynamic market expectations, companies can significantly improve employee performance and productivity. No wonder 77 per cent of CXOs in India plan to spend more time upskilling their employees! Helping employees realise their potential and making efforts to increase it can help businesses improve performance, productivity and, consequently, results. Continuous employee development initiatives can help companies deliver better customer results and witness an upward graph.

Accordingly, we involve our employees at every level in our innovation drive. We’ve introduced a monthly reward system to increase employee participation in the initiative, as it encourages employees to go beyond their call of duty, deliver better performance and foster an environment of improvement.

Enhanced employee engagement

As per a survey published in BW People, about 75 per cent of companies in India reported that their employees are not engaged in the workplace. While each one has a reason to remain disengaged, one of the most significant ones is the lack of employee upskilling and development initiatives from the company’s side. Although increasing employee potential doesn’t necessarily guarantee employee engagement, it undoubtedly contributes positively towards it.

At Runaya, we take unique measures to keep our employees engaged in the workplace through our leadership programme. We firmly believe that it has helped us create a strong leadership pipeline for all key positions. We consider people first and strive to implement best-in-class leadership practices for the growth of our employees.

Accordingly, we have developed a structured process to identify and nurture high performers and develop leaders for tomorrow. We shortlist employees based on criteria, including age and performance rating for the last three years.

Further, the shortlisted candidates undergo Accelerated Competency Tracking and an Up-gradation Program (ACTUP), facilitated by external partners, to help increase employee potential. In addition to the same, based on an employee’s score from the Developmental Assessment Centre (DAC), our management team interacts with every candidate and discusses their career aspirations. The team also provides additional support and guidance to help the candidate enhance their skill. Besides, we’ve developed an Individual Development Plan (IDP) for each employee to track their learning progress.

Increased employee retention

Today’s workforce understands the significance of increasing employee potential. Thus, they expect their employer to reciprocate with initiatives that help develop their potential. Companies increasing employee potential are deemed more successful at retaining their workforce. Such employees are more likely to be loyal to the company that’s helping them widen their skill set.

A significant initiative we’ve taken to increase and retain employee potential is the Talent Review Council. It aims to focus on every employee’s individual development. Thus, it involves retaining high-potential employees and focusing on star development, building leadership pipelines and maintaining a strong inventory of star performers, and mapping the career trajectory of high-performing employees for future critical roles.

We also encourage our employees to take up challenging projects, help in increasing plant or organisational productivity, streamline and simplify the existing process, etc., to help bring out their real potential and further increase it to prepare them for leadership.

Apart from the above, we’ve introduced two unique programmes, including R Connect and educational sabbaticals. R Connect is where our mentors meet employees to foster personal and professional development. They meet once in two months, assess their professional growth, understand their needs and identify areas of improvement.

On the other hand, we are about to introduce educational sabbaticals that allow employees to go for higher studies, acquire new skills, and contribute better upon returning.

Nurturing the valuable asset called employee!

Employees are assets who, when nurtured, can do wonders for the growth of a company. It is in Runaya’s inherent approach and culture to value people and their role in the organisation’s success. We are a fast-growing startup with innovative strategies and plans for the future. So, come, be part of the Runaya family and embark on the path to self-development and growth.