Bangkok, December 1, 2023 - Kincentric (Thailand), a Spencer Stuart leading HR consultancy company, has unveiled global employee experience trends from its 2023 research, demonstrating that consistent employee experiences and a cohesive organizational culture, led by organizational leaders, can significantly enhance business outcomes. Kincentric's research indicates that companies that prioritize consistent employee experiences have witnessed double-digit growth in both financial performance and customer satisfaction. Additionally, Kincentric has highlighted trends pivotal to fostering organizational vitality and shared insights from the 16 winners of 'Kincentric Best Employers Thailand 2023,' shedding light on the critical factors contributing to their success in today's fiercely competitive landscape.
Dr. Adisak Chandprapalert, Managing Director and Partner at Kincentric (Thailand), stated: "As a trusted HR consulting partner for clients spanning diverse industries in Thailand, Kincentric has consistently provided data-driven insights and solutions aimed at enhancing organizations' people strategies and overall business performance, all while attracting and retaining top-tier talent. Our research, based on trends observed in our portfolio comprising more than 100 leading enterprises, underscores the urgency for leaders to seize the opportunity to leverage employee experiences as a competitive advantage, thereby unlocking business vitality. This involves nurturing employee experiences through continuous feedback and dialogue, coupled with actionable steps aligned with organizational needs to ensure a consistent employee experience. Achieving this consistency, alongside fostering business growth, requires dedicated and sustained efforts. Moreover, companies recognized as 'Kincentric Best Employers' have reported a 21% higher rating for senior leadership, generating enthusiasm and charting a clear path forward for the company. Organizations with high satisfaction scores for senior leadership and management have exhibited a remarkable 76% above-average financial performance."
Mrs. Napas Sirivarangkul, Partner at Kincentric (Thailand), noted: "The year 2023 has presented corporate leaders with formidable challenges, compelling them to explore innovative approaches to attain business objectives through their workforce. Only 51% of employees believe that their organizations deliver on their promised experiences, as employee expectations continue to evolve. Notably, in Thailand, Generation Y and Z employees represent the least engaged groups, underscoring the necessity for enhanced career development opportunities. 'Kincentric Best Employers' organizations have successfully maintained high levels of employee engagement, improved retention rates, and achieved superior financial performance by harnessing the potential of consistent employee experiences, made possible through three key elements: 1) Consistency, 2) Connectivity, and 3) Courage from the C-Suite. These elements empower organizations to explore new horizons, enabling leaders to unlock remarkable business results in various facets, including heightened employee engagement, profound agility, inspirational leadership, and talent-focused initiatives."
- CONSISTENCY: Consistency plays a pivotal role in enhancing employee engagement and retention, ultimately leading to improved business outcomes. Corporate leaders must proactively create reliable and consistent experiences across all aspects of the organization to maximize their impact on business. Consistency in creating a positive work experience across an organization can be achieved by ensuring that multiple core experience elements work together seamlessly to create a similar perception of the work experience for all employees.
- Connectivity Aligned employee experiences are instrumental in accelerating business strategy execution. Corporate leaders, including CEOs and CHROs, need to adopt a holistic approach that aligns with the organization's culture, fostering a consistent and distinctive employee experience. Leading organizations view employee experiences as a natural extension of their strategic and cultural elements, a critical factor in achieving sustainable results and business vitality. Generally, engagement levels are higher when employee experiences align with the organization's culture and strategy.
- COURAGE FROM THE C-SUITE: The C-suite holds a unique opportunity to transform employee experiences into a valuable business asset. Achieving consistent and interconnected employee experiences that yield improved business outcomes necessitates courageous and dedicated leadership. Organizational leaders can instill courage in the C-suite through a three-step approach:
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- Shift Ownership to Senior Leaders: Senior leaders must assume responsibility for setting priorities, providing clear guidance, and leading the transformation to create engaging and consistent work experiences.
- Empower Managers to Personalize: Managers require support to enrich and personalize day-to-day experiences within the framework established by HR.
- Drive HR with Purpose: HR should move beyond the basics, intentionally delivering more mature, personalized experiences that align cohesively with the business strategy.
Mrs. Preeya Singhnarula, Program Manager of Kincentric Best Employers Thailand 2023, Kincentric (Thailand), remarked: "Kincentric Best Employers is a signature program with a substantial global footprint. This program culminates in a prestigious and eagerly anticipated annual event. The recognition received from 'Kincentric Best Employers' has a positive impact on employee morale, boosting their confidence and pride. This, in turn, allows organizations to enhance their brand visibility across multiple markets, bolster their reputation among customers, investors, and potential employees. In its 23rd year of recognizing Thailand's Kincentric Best Employers, the program has gained the trust of participants, including over 100 leading organizations from across the country. Among the 16 winners, we have identified four influential behaviors shaping key business outcomes, including talent management, operational efficiency, customer-centric approaches, and financial stability. These behaviors are: 1) Engagement, 2) Agility, 3) Leadership, and 4) Talent Focus."
- ENGAGEMENT: Employees exhibit positive sentiments, expressing a commitment to longer tenures, or exerting additional effort in their roles.
- AGILITY: The organization is perceived as highly adaptive, innovative, inclusive, and responsive to changing customer needs.
- ENGAGING LEADER: Strong connections are maintained to drive engagement through clear communication of corporate vision and demonstration of robust personal values.
- TALENT FOCUS: Employees believe the organization is deeply committed to attracting and retaining talent, fostering an environment conducive to growth.
'Kincentric Best Employers Thailand 2023' acknowledges and celebrates 16 outstanding organizations in Thailand out of more than 100 contenders. The award recipients include:
- B2S COMPANY LIMITED
- Bangkok Dusit Medical Services Public Company Limited (BDMS)
- Bank for Agriculture and Agricultural Cooperatives (BAAC)
- Cargill (Thailand)
- Centara Hotels & Resorts
- Central Food Minimart – Tops daily
- Central Marketing Group
- Central Pattana Public Company Limited
- CRC Sports – Supersports
- DHL Express Thailand
- Food Passion
- HI-WAY Company Limited (subsidiary of TISCO Financial Group Pcl.)
- Major Cineplex Group Public Company Limited
- Olam (Thailand) Ltd
- TISCO Financial Group Public Company Limited
- WHA Corporation Limited