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S. Y. Siddiqui talks about employee retention and reveals how Maurti gets it right

In All, Blog, Jaipuria Noida by admin

Maruti’s employee retention strategy has always intrigued the Indian HR world. Jaipuria Institute of Management, Noida’s students directly talked to one of the leading men at the helm of HR policies of Maruti- Mr. S.Y. Siddiquie himself.

S. Y. Siddiqui, Chief Mentor, Maruti Suzuki India Ltd. was one of the panelists for HR Round table on “Emerging trends in Talent Acquisition” at Jaipuria Institute of Management, Noida recently. He talked to the students about the Gen Y employees and their aspirations, which have turned Talent Acquisitions on its head for organizations. “Now organizations have to project the best brand image and create programs for the boarding process of newcomers into the company to keep them interested and then engaged,” he points out.

He also offered insight into Maruti strategies for recruitment and employee engagement in an eye-opening interview. Here are the excerpts.

Why the dramatic change in Recruitment and Talent Acquisition today?

According to Siddiqui, who is a seasoned campaigner in the field, it’s partly to do with business environment globalization. Since corporates have realized that people power is a huge factor in business excellence they look at talent nurturing, retention and engagement closely. “Recruitment has become a very strategic function and is defined on a micro point. Employer branding has become very critical for attracting prospective talent for the company,” he says.

Siddiqui believes that gone are the days when a recruiter would go to a campus, offer a candidate a job and he or she would happily accept it. “Today they are actually evaluating prospective employers and whether they would like to invest their career with it. They are also looking at ethical, governance and sustainability perspectives besides business performance,” he explains the changing nature of campus placements.

It’s not about just the money anymore!

Maruti is known for its high employee retention record. From his own HR experience with other organizations Siddiqui points out that they only look at remuneration and benefits as key to attracting talent. “But studies have shown that these factors rank quite low amongst employees when it comes to job satisfaction. The kind of work culture you offer them is the decisive factor in engagement and retention,” he admits.

Siddiqui then offers the example of Japanese work practices including same uniform, same canteen, open office as a part of better engagement. “When we give our employees uniforms, they take to them quite naturally. Another important aspect of retention is continuous communication. Companies often have exit interviews, but about a decade ago I worked on the concept of stay interviews because your present employees’ voice matters,” he explains.

From effective communication to people development, Maruti takes all the right measures that lead to employee retention. “I think Gen Y thrives on the fact that with us they’ve tremendous empowerment to experiment. It is exciting for them to work in a company where there is no imposition on them or curbing their instincts. They know that in few years they can develop their capabilities, competencies and work towards career development,” he reveals the secret.