This is an excellent suggestion and a lesson learned, and according to Sreedipto BHATTACHARYYA it works!
What does technology leveraging rewards transformation mean for an organisation on this journey and what does it mean to you as a leader?
Today’s digital technology has the potential and the ability to transform Total Rewards as we know it. But what needs to be understood is that technology is only a lever. Implementing an expensive technology that the business does not see as relevant or that adds very little value to the line of business defeats the very purpose of transformation. The process of transformation at its very core is about three key elements: a) a strong purpose and a clear goal (the WHY), b) a fit-for-purpose solution (the WHAT), and very importantly c) organisational change and communication strategy (the HOW and WHEN). As someone in the thick of such a journey, these three key elements I am confident will determine the true success of a digital rewards transformation i.e. driving trust and process transparency.
In the summit, you are speaking on trust and process transparency – why do you think it is an important outcome to keep in mind for leaders driving transformation?
Transparency is key to building trust in an organisation. I see driving transparency as one of the most important goals of any rewards process transformation (digital or otherwise) and trust is a very significant and positive consequence of that journey. The total rewards community is arguably the most important custodian of some of the sensitive process elements related to the workforce and therefore it becomes an imperative for transformation leads to keep this in mind. An organisation’s top leadership must be made a partner who equally believes in this purpose.
What has been one of your biggest challenges and also a learning so far when it comes to driving transformation in general?
It has been very exciting and challenging so far to be part of a digital transformation journey of a multinational organisation. There were many challenges as well as learnings for me so far. However, I would like to share one challenge I believe everyone can relate to at some point or the other – global transformation in large organisations comes with its own share of dilemmas – one of the prominent ones is how do we build a global product while still maintaining local relevance in different markets. Since, automation and digitalisation are predominantly driven by rules and consistency of approaches, this decision can often stand between a successful transformation and a fit-for-purpose solution for the customers in different markets. What makes it difficult is that the answer is not binary in almost all cases. However, an approach which I have seen to work is also a learning I am going to share – do not shape all your processes simply to fit the digital platform or the product you have bought or developing from scratch, it is always the product that should be shaped around business needs. And for that to happen, involve end user early in the design process. Just leaving you with that thought.
Sreedipto BHATTACHARYYA is a Head of Rewards – Asia Pacific at Novo Nordisk. He is a WorldAtWork certified Global Remuneration Professional (GRP®) with experience in markets like Africa, Middle East, Near East and the Asia Pacific. His interests and current engagements lie in leading rewards transformation and change management leveraging technology with a strong focus on the line of business and customer needs. In addition to this, Sreedipto is responsible for designing and driving the total rewards philosophy, compensation & benefits programmes, and organisation change communication strategies across region Asia Pacific. In his leisure, he loves eclectic reading, listening to classical music and playing the violin.