How did I manage to achieve 160% growth?
"The greatest danger for most of us is not that our aim is too high, and we miss it, but that it is too low, and we reach it." - Michelangelo
How did I improve my company’s account size?
After serving as a strategy consultant at several prestigious organizations for a decade, I was entrusted with the responsibility of improving the company’s account size.
With a background in business strategy, I joined a leading firm in employee engagement as a CEO surrounded by people who had a lot of experience in that field.
The company had 60% of the market share, while the other dominant competitor had the remaining 40%. Despite holding a strong position in the market, the company wanted to aim for more.
So, how did I trail the tough terrains of employee engagement as a novice?
I built on my strength to create a unique position. I leveraged engagement to enable strategy.
For example, a downstream special steel manufacturer was unable to commission a new line for 3 quarters after erection. From the results of the employee engagement survey, we found that the commissioning team was disengaged. We identified the reasons for disengagement and helped the client address them. The line was commissioned in three months. The CEO was hugely delighted.
With a few examples like these, the news spread like wildfire. This was like music to the ears of CEOs and CHROs.
And soon enough employee engagement, which was initially delegated to the senior managers, became the decision of the CEO and chros.
The moment we began quantifying the impact of employee engagement on performance and revenue, the level of involvement with the clients improved.
From surveys, we leveled up to deep analytics and organizational development.
This led to a significant increase in the account size and average revenue per client doubled while the top 10 clients with deeper penetration and involvement in significant consulting and OD interventions started contributing 40% of the business.
Consequently, the company witnessed a growth of 160% in the first year. The company achieved a 32% profit margin after making losses for a decade.
Being a generation born in a technology-centric environment, Gen Z brings a new and fresh perspective to the managerial space. Leveraging technology can bring several benefits to the organization, such as reducing the burden of manual work and increasing efficiency at the workplace. Technology is the future, and Gen Z has the power to tame it.
Gen Z is inclined towards autonomy and power. They value freedom and are always enthusiastic about taking up jobs and roles that they truly connect with. This trait, as a manager, can come in handy in driving the team towards taking up tasks and projects that they find meaningful. This keeps the team motivated.
There is nothing more attractive to a Gen Z than the quality of being genuine. This trait helps Gen Z easily identify the gossip mongers and lazy workers in the team and deal with them. It also helps to create a good rapport with the high-performing members who are genuinely adding value and keeping them engaged.
Gen Z believes in approaching any matter with a collaborative approach to leadership. In fact, this generation thrives in an environment where every individual of the team participates in decision-making and discussions.
In a world that is dynamic and subject to constant changes, Gen Z has learned the art of agility in decision-making, as well as creating an environment where every member of the team is focused on continuous learning from failures. Understanding the power of flexibility in the modern workplace helps keep the entire team productive and engaged.
Diversity and inclusion are hot topics among Gen Z. The Gen Z managers can utilize this trait to create a better environment in the workplace as well as to blur the boundaries of talent acquisition.
As they believe in ensuring a good work-life balance, Gen Z managers can ensure the well-being and engagement of their employees by establishing clear work boundaries so that the team members get frequent breaks and are not burned out.
Gen Z is vocal about mental health and emotional well-being, and Gen Z managers ensure a cordial relationship with their team members. When managers take steps to take care of the team, the team reciprocates and achieves great results.
Gen Z is generally believed to be upfront and straightforward. This quality translates into providing honest and true feedback without sugarcoating, as well as providing recognition to those who are genuinely deserving of it.
In conclusion, while Generation Z may have faced scrutiny and stereotypes in the workplace, it's essential to recognize their unique strengths and abilities as managers. Their advent into the corporate landscape marks a change in the functioning of the teams and brings in a set of values such as a sense of purpose, honesty, concern for work-life balance, mental well-being, authenticity, and motivation. Overall, embracing Generation Z's managerial abilities offers organizations a competitive edge in today's rapidly changing corporate landscape.
Finding it difficult to engage the GenZ?
Most employee engagement models are based on obsolete data from the previous generation’s workforce. WE-Matter's model is prepared to cater to the needs and wants of Gen Z in the workforce to keep them engaged and motivated!
Book a demo now for the best employee engagement survey and choose success today!
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