Outcome of an employee engagement study completed in the initial phase of lockdown

HR function becomes quite critical in case of emergency or unexpected situations like this COVID pandemic.

Employee Engagement Index
Employee Engagement

The study was conducted for understanding employee feedback regarding the HR function of their company was initiated in the early phase of lockdown and the client have shown their courage and firm decision to launch the survey even if the organization was undergoing a transition from normal to WFH situation and lockdown restrictions.

For them, the objective of the study was to understand the level of satisfaction of their employees with HR function of their organization and extended support provided during the lockdown period. To our surprise, 80% participation of the employees in the survey during this transition phase was quite encouraging. The overall satisfaction index was also close to the manufacturing industry benchmark which was quite appreciating.

Of the various key indicators, HR policies and procedures, Information sharing, and HR tools had shown higher satisfaction whereas areas for improvement were Implementation, L & D, and PMS. This shows that even if you are having good policies in place, these have to be implemented in a proper way and at the right time. Employees need to be kept engaged, motivated during a changing working environment.

Employees should be able to find their career path growing along with the company and their efforts should be recognized. Employees look for transparency in their assessment and to participate in training for technical skill enhancement.

They would prefer to work remotely but not in silos!!!

They look forward to retain the connection with their teammates/ senior management through regular virtual meetings and clear communication. Team building activities, recreational activities should be conducted to boost morale and take care of the emotional strength of the employees.

According to them, HR should understand the pulse of the people and act accordingly. Compensation and increments should be designed based on performance.

Constant feedback is the only way for continuous monitoring of employee performance, emotions, sentiments, and wellbeing. Online confidential surveys are the best way to keep communication ongoing and measuring pulse of people which would help organizations to take wiser strategic decisions and grow and in a way make it ready for tomorrow.

We conduct similar HR function related studies like employee wellness study, 360-degree feedback study, employer branding study, inter-departmental satisfaction study, etc.


Contact us if you would like to explore the dynamics of your employee mindset, we would be happy to help you.

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A Positive Work Culture Maintains Employee Engagement amid Uncertainty

Workforces and leaders returning to an office setting in the wake of COVID-19 are confronting significant concerns, such as the following:

  • What will social distancing look like in the office setting?
  • Will safe practices allow for effective in-person communication?
  • Can I balance working from home with work on-site?
  • As an organization, how will we respond to societal and cultural changes in the wake of the pandemic?
  • What accommodations will organizations make for high-risk team members or those with high-risk family members?

Such worries and fear can threaten the team member’s job satisfaction, productivity, and wellness—in the workplace and beyond.

Organizations should follow the 4C’s to deal with the current situation:

  • Communication – Prioritizing communication is integral while working from home. Regular conversations with team members go a long way in picking up early signs of anxiety and make more space for taking and giving feedback during this time.
  • Caution – Employees are experiencing a range of concerns about their wellbeing, how to cope if they fall ill, or simply how they will get work done if they are unable to travel to their workplace? Listen to them – listening to employees during distressing times is an important signal that the company cares.
  • Compassion – With personal and professional work lines blurring, employees are juggling new responsibilities, fears, and problems, and they need to hear their leaders that they understand, that they have the full support of their organization. Hence the role of a leader gets more critical.
  • Care – Introduce initiatives that are aimed at improving the wellbeing of employees – provide upskilling opportunities to employees via online courses and webinars, announce wellness initiatives focusing on the mental health and fitness of employees. Such initiatives build trust and resilience among the employees helping them meet the demands of the changing environment and make organizations future-ready.

As the pandemic resets major work trends, HR leaders need to rethink workforce and employee planning, management, performance, and experience strategies.

Team Work
Team Work

Companies will have even greater challenges in helping employees stay engaged when the workplace begins to move back to offices, which is already in progress.

The imperative for HR leaders is to evaluate the impact each trend on their organization’s operations and strategic goals, identify which require immediate action, and assess to what degree these trends change pre-COVID-19 strategic goals and plans.


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Market research trends that dominate in 2020

Market researchers are constantly looking for trends in other industries — but staying at the forefront of your own sector is just as important. With the industry continuing to grow, and data-driven decision-making taking on more cachet in every industry, there are great opportunities for forward-thinking market researchers.

This is obviously not an exhaustive list, but we think it’s a great starting point for thinking about investments in 2020 and beyond

Artificial Intelligence as a Service

Market Search India - Artificial Intelligence

For a long time, artificial intelligence (AI) has existed only in the realm of research institutions, corporations and governments. However, the rapid progress done on technologies like machine learning, relational databases, deep learning, and neural networks mean that AI is already a reality.

Improved Customer Experience to sustain brand loyalty

Customer experience to sustain brand loyalty2020 will be the year of the customer. We’re seeing a major shift in faith about what marketing actually is. It’s no longer about trying to convince people to buy from or work with your company. Instead, the priority has moved towards providing fantastic customer experiences that will keep people coming back for more.

Employee Commitment

If systematic and friendly service is the keystone of great customer experience, how do we ensure we are providing this? It is of course, is in your employees. Your employees are the human face of your brand, so concentrating on interactions between your employees and your customers should be a key part of your marketing strategy.

Visualization as an important featureVisualisation as an important feature

With an explosion of smart speakers and voice search in recent years, you’d be forgiven for thinking that “readable” content is more important than visuals and design these days. While advancements in voice search are certainly influencing the way that we’ll create content now and in the future, you shouldn’t neglect visual content either. Research has proven that people favor visual content to plain text. You just have to look at the growth of image-focused platforms Pinterest and Instagram to see the proof of this.

Personalization of surveysPersonalisation of surveys

Increased data collection and development in technology have already had a huge impact on the level of personalization that is possible and on what consumers expect from their interactions with brands. Today’s consumers are flooded with marketing messages from multiple channels to the point where they have started to tune them out. Traditional advertising is losing its effectiveness.80% of consumers said that they’d be more likely to do business with a brand that provides a personalized experience.

Intercept surveysInercept Surveys

These quick polls have long been carried out everywhere from shopping centers and cinemas to pubs, cafes and restaurants. These intercept surveys are short and satisfying to fill out, yet can yield useful customer insights which can inform and enrich branding strategy. Social media polling tools and real-time SMS data collection practices are expected to grow increasingly commonplace as more and more of our time online is spent socially — whether we’re scrolling through our Twitter feeds or watching videos on YouTube.

Many of these trends have been bubbling underneath the surface for the last couple of years. And are now ready to take center stage. Getting a handle on the key trends for market research will position you well to assist your brand with sensible consumer insight

That wraps up the main trends we feel are booming in the research industry in 2020.


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Supply chain system in India takes a hit during the lockdown

Supply chain takes a hit during the lockdown

While many of us had huge plans for the year 2020, the year apparently had a different plan for us. India went under lockdown from 25th March to contain the spread of the coronavirus outbreak which lead to restricted movement of goods and put a hold on the functioning of industries. As a result, companies that sell fast moving consumer goods (FMCG), as well as retailers of such goods, saw severe disruptions across the value chain.

Companies are struggling to keep pace with new shifts and disruptions in the procurement and supply chain processes.

Businesses are being shut, and the supply chain is disrupted. Industries are either closed or operating at sub-optimal utilization (with 8-10% of staff).

Companies in the healthcare, logistics, technology and media sectors are witnessing an increase in spending because these companies had to invest in unplanned remote workforces which became functional virtually overnight. Retailer supply chain happens to be one of the most crucial ones to be impacted by the pandemic and the on-going lockdown.

While many are losing jobs and many retail stores have reached the verge of shutting down, the lockdown is probably proving to be boon for the food retailers. Grocery as well as medical stores have seen a sharp rise in demand but due to the situations they were facing severe constraints of stock replenishment as company salesperson visits were severely hit.

While the online food and grocery stores are stepping up their operations to supply essentials to the masses, the overall food supply chain is battling a number of challenges to stay functional.

Retailers reported changes in the demand profiles of specific products, as shoppers’ behavior changed in response to the outbreak of COVID-19.

Supply chain takes a hit during the lockdown
Supply chain takes a hit during the lockdown

How the lockdown has affected the supply chain?

• Sourcing challenges
• Fewer sales channels for the raw material producers and farmers
• Capacity constraints
• Operational disruption

While various factors are forcing logistics and supply chain networks to adapt and rise to the challenges, going forward in order to ensure that if a situation like this pandemic is to rise again, companies across all sectors will be working on innovative ways with use of technology to smoothen the supply chain disruptions and have better visibility and communication.

The end goal ideally would be to ensure that the customer regardless of the situation should have access to the products they need.

Unfortunately, the road to recovery is not as straight forward as we expect.

Interested in more market-specific insights on the impact of Covid 19 on the supply chain system?

Partner with us to get solutions to how you can prepare for the new normal post-Covid-19.


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A study to understand the impact of COVID-19 on consumer mindset

We are observing – Unexpected lockdown, the concern of increasing Covid-19 cases on a continuous basis, the confusion created due to process of extended lockdown and partial unlocking procedures, the concern of self & family health, sense of instability, fear of job security, financial security, economic slowdown – these and many such are the outcome of the current Covid-19 pandemic.  

Consumers are experiencing lots of such ups and downs in this pandemic and getting adjusted to New normal life. Market Search India have recently conducted a consumer sentiment study among 500+ respondents across India and have come up with quite interesting findings.

Few insights are as below:-

  • Consumers are stepping out only for essential products currently make prefer to buy other products online
  • They are willing to start in-store purchase for food & grocery immediately post lockdown but purchases of other non-essential products would be done at in-store only after 3-6 months. Whereas high-value purchases (jewelry, car, consumer durables), would get extended to beyond 6 months or 1 year.
  • Very few consumers are quite optimistic about India’s GDP over the next 1 year.
  • Consumers find that there would be a severe increase in the unemployment rate for the next 1 year.  This is been felt by all consumers having/ not having insecurity about their current employment.
  • Also currently unemployed consumers find there are less chances of getting a new job in the next 6 months.
  • Employed consumers find it is less likely to get a good bonus/ raise this year and also income would decrease in the next 1-3 months.
  • Consumers with no income change would not have any change in a financial investment except for loans where they would not invest.
  • Consumers with an expected increase in income level and with no change in income level would increase their savings.
  • Consumers with an expected decrease in income would reduce their expenses on most non- essential product purchases in the next 6-12 months.
  • Though consumers find they would resume their normal day-to-day routine in the next 9 months, they would be curtailed down on their out of home activities.

Impact on expenditure level on different Product categories in near future:-

Impact on expenditure level on different Product categories in near future
Impact on expenditure level on different Product categories in near future

There are a lot many more observations that we have received as insights from the study.

We can conduct similar consumer sentiment or consumer confidence study across product segments. These deeper insights would help companies to take strategic decisions, plan marketing activities, design promotional campaigns as per the changing buying behaviour of the consumers.

Contact us if you would like to explore the dynamics of your consumer mind-set, we would be happy to help you.

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How marketers should react on changing marketing scenarios?

In each downturn advertisers wind up in ineffectively outlined waters on the grounds that no two downturns are actually similar. We’ve recognized patterns in buyers behavior and firms  procedures that either drive or subvert performance. Organizations need to comprehend the advancing utilization patterns and adjust their procedures according.

During a monetary downfall, buyers set stricter needs and reduce their spending. As deals begin to drop, organizations ordinarily cut expenses, reduce costs, and delay new ventures. Marketing expenditures in areas from communications to research are often slashed across the board—but such indiscriminate cost cutting is a mistake.

Companies that put customer needs under the microscope, take a scalpel rather than a cleaver to the marketing budget, and nimbly adjust strategies, tactics, and product offerings in response to shifting demand are more likely than others to flourish both during and after the downfall/recession.

It’s basic to follow how clients reconsider needs, reallocate funds, switch brands, and redefine value.

Understanding the connection between the economy and promoting can help entrepreneurs assign their advertising assets and react to changes in the recession atmosphere.

Underneath indicated is a network that clarifies the conduct change in the purchasers.

Behavior change

Your strategic opportunities during the downturn will strongly depend on which of the four segments your core customers belong to and how they categorize your products or services.

For example….

  • Prospects are reasonably good for value-brand essentials sold to slam-on-the-brakes consumers, who will forgo premium brands in favor of lower prices.
  • Value brands can also effectively reach out to pained-but-patient consumers who previously bought higher-end brands.
  • Value brands have opportunities with postponable products, as well.
  • Repair services can market to the pained-but-patient group, who will try to prolong the life of a refrigerator rather than buy a new one.

VENDOR SATISFACTION SURVEY

“Growing Together” is what vendors would like to hear from any of their business partner or customers.

A satisfied vendor is the one who would always standby you and your business in critical situation and considers your success as their success.

Strong backbone makes a body posture look strong and stable. Vendors are the backbone of any business. Vendors are integral part of business and they play a very important role in overall supply chain.

spare-part-vendor

Its quire essential to know how to keep your vendors satisfied –

      • Find out what make them happy – which parameters
      • Understand the current issues faced by them
      • Ask them where you can do better
      • Measure perceptual image of your company
      • Compare your company’s performance with other companies

Factors that would influence vendor- customer relationship –

      • Fair commercial policies
      • Integrity in business dealings
      • Ethical practices
      • Supportive leadership
      • Clarity of communication
      • Understanding capabilities of the vendors while placing an order
      • Assurance of the regularity of the business
      • Timely payment
      • Support and co-operation as and when needed
      • Technological advancement – make vendors upgraded with latest technology to strengthen the overall business process
      • Loyalty program – listen to your vendors and rewarding the best performers
      • Relationship & trust with vendors
      • Professional approach in dealing with vendors

Key questions to know –

      • Are vendor’s needs and expectations being met by the organization’s products and/or services?
      • Do vendors believe the organization’s claims about current and projected organizational performance?
      • Do vendors believe that organizational performance can be sustainable?
      • Given their relationship to the organization, what suggestions do vendors have for improvement?
      • How do they contribute new product development and understanding customers’ needs?

 So if you want your vendors to believe you saying – “Growing Together”, just Stop Quoting and Start Doing!!!


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Men like fat in their food more than women

download

The Indian Council of Medical Research (ICMR) survey revealed that men consume more fat at 34.1 gram per person daily, than women who consume 31.1 gram per day across the seven cities – Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata and Mumbai.

Added fat was high in dishes such as dal fry, rice, stuffed paratha, chuduva, bisi bele bath – a rice-based dish with origins in Karnataka — and puliyodharai also known as tamarind rice. Mutton Birynai has more fat than chicken biryani or cereal-based and non-vegetarian recipes, it found.

According to the study, those who eat deep-fried food consumed more added fat than those who ate boiled and shallow-fried food.

Also, almost all non-vegetarian foods, mostly consumed in urban areas, has high amounts of added fat, the study revealed.

The average intake of added fat in Mumbai and Hyderabad were the lowest at 28.8 gram per person daily and 25.1 gram per person each day respectively.

The average intake of added fat in all the seven metro cities pooled together was 32.6 gram per person each day, which was higher than ICMR-recommended levels at 20g/person/day. Overall, 18 per cent of the total intake of energy was obtained from visible fat, the survey found.

 

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How effective are your company’s Corporate Social Responsibility activities?

CSR-Activities.png

India is the first country in the world to make corporate social responsibility (CSR) mandatory, following an amendment to the Company Act, 2013 in April 2014. Businesses can invest their profits in areas such as education, poverty, gender equality, and hunger.

CSR is the procedure of assessing an organization’s impact on society and evaluating their responsibilities. Companies now have specific departments and teams that develop specific policies, strategies, and goals for their CSR programs and set separate budgets and “external implementing agencies” to support them.

Why you should assess the impact of your company’s CSR activities?

This is to understand the following

  • Does CSR project create an impact?
  • How successful has the project been in achieving planned results for the beneficiaries?
  • Are there any winning conditions (enabling environment) to ensure sustainability after the project?
  • Are outputs delivered in a cost-effective manner, in expected quantity and quality?
  • Are the project objectives consistent with beneficiaries’ needs, state and national policies, and with the partner’s vision & mission-aligned to this project?

Benefits of conducting CSR Impact Assessment Study

  • Market Search India carries out impact assessment study post conduction of CSR activities to check its effectiveness among beneficiaries.

The study captured information about the satisfaction of beneficiaries in terms of

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  • The feedback from the target segments helps the company to understand the impact of CSR programs and changes suggested by the beneficiaries to make the activity more effective.
  • It also helped to track the performance of the implementing agencies and areas of improvement required.

 

AI will diversify human thinking, not replace it: Tata Communications study

According to the study, 90% leaders agreed that cognitive diversity is important for management and 93% believe AI will enhance decision making.

A new study by Tata Communications on the impact of artificial intelligence (AI) in the workplace finds that AI will diversify human thinking, rather than replace it. Carried out in collaboration with UC Berkeley professor Ken Goldberg, the study is based on inputs from 120 global business leaders like Tony Blair, Executive Chair of the Institute of Global Change and former UK Prime Minister, who said that “AI will allow us to do what it is that we are uniquely meant to do: focus on high-level thinking, strategy, and paving the way for innovation.”

According to the study, 90% leaders agreed that cognitive diversity is important for management and 93% believe AI will enhance decision making. Three out of four expect AI to create new roles for their employees.

Ken Goldberg, UC Berkeley professor and co-author of the report, said “The prevalent narrative around AI has focussed on a ‘Singularity’ – a hypothetical time when artificial intelligence will surpass humans. But there is a growing interest in ‘Multiplicity’, where AI helps groups of machines and humans collaborate to innovate and solve problems. This survey of leading executives reveals that Multiplicity, the positive and inclusive vision of AI, is gaining traction.”

The study further found that AI could enhance cognitive diversity within groups, which could yield better outputs, while helping employees become more nimble and agile.

Co-author Vinod Kumar, CEO and Managing Director at Tata Communications, said, “AI is now being viewed as a new category of intelligence that can complement existing categories of emotional, social, spatial, and creative intelligence. What is transformational about Multiplicity is that it can enhance cognitive diversity, combining categories of intelligence in new ways to benefit all workers and businesses.”


Source : https://cio.economictimes.indiatimes.com/news/strategy-and-management/ai-will-diversify-human-thinking-not-replace-it-tata-communications-study/65700606

Market Research Consultancy, Market Research Company in Mumbai, India