Saturation vs SatisfactionPresentation by Chirabrata MajumderAt National IT Conclave 2014 - August 30, 2014 Indian Institute of Foreign Trade

About Me

Pooh & his Team – All about Satisfaction !!!

High on energy, aggressive and ready to take up any task Highly creative but at times turn out to be misguided missile Represents Millennial trait …….

Tigger

Pooh

Eeyore

Calm, composed and cool - Satisfied soul…. Happy with a pot of Honey …. Great attitude - At times looses focus, needs guidance on end objectives …….Represents Gen X trait …………..

Humble, good workers if left alone …….. Emotional ….. often be an emotional drag on an organization in dealing with change……. Resistive to change ….. Represents Baby Boomers trait ………………..

Saturation ????

What Dictionary has to say ?[sach-uh-rey-shuh n] /ˌsætʃəˈreɪʃən/

1.the act of saturating or the state of being saturated

2.(chem) the state of a chemical compound, solution, or vapour when it is saturated

3.(meteorol) the state of the atmosphere when it can hold no more water vapour at its particular temperature and pressure, the relative humidity then being 100 %

4.the attribute of a colour that enables an observer to judge its proportion of pure chromatic colour

5.(physics) the state of a ferromagnetic material in which it is fully magnetized. The magnetic domains are then all fully aligned

6.(electronics) the state of a valve or semiconductor device that is carrying the maximum current of which it is capable and is therefore unresponsive to further increases of input signal

7. the level beyond which demand for a product or service is not expected to increase

What is Market Saturation

• When the amount of product provided in a market has been maximized in the current state of the marketplace.

• At the point of saturation, further growth can only be achieved through product improvements, market share gains or a rise in overall consumer demand.

• Many companies are already aware of the problems of market saturation and have intentionally designed their products to "wear down" or otherwise need replacement at some point.

For example, selling a light bulb that never burned out would limit consumer demand for more of this product.

• Services revenue also becomes an important consideration when product revenue begins to slow; IBM smartly changed its business model toward providing services once it saw saturation in the large computer server market.

Is Talent Pool getting “saturated” ?

Talent Pool “then” and “now” ……. Economic Slow-down

Fast obsolescence of Skill Sets

Millennials intruding into the

Workplace

Only Resource which appreciates over time

The Generation Theory and its Impact on Industry and Society

Lost GenBorn between 1880 – 1900 They had experienced World War I

GI GenBorn between 1900 – 1924They had experienced the World War II

Baby Boomers Born between 1946 – 1964Post World War II – New Economic Era

Gen XBorn between 1965 - 1980

MillennialsBorn between 1981 - 2000

The Social behavioral patterns of the Millennials Baby boomers & Gen X • Brand Loyalty and Employer alignment is very high. • Couple of years back, they constituted the largest generation of active workers. • This generation grew up in organizations with large corporate hierarchies, rather

than flat management structures and teamwork-based job roles.

Millennials • Highly skilled , self-confident, multi-tasking, and energetic.• Drastically different outlook in terms of their employment experience. • Millennials are generally highly exposed to info-highway, which often leads to

Information Asymmetry• Team-Workers, challenge-seekers, but prefers Work-life balance.• Focused on social interaction, and strong followers of Social Media.• Seeks immediate results , and desire for speedy advancement may be seen as

weaknesses by older colleagues.

The millennial generation is the largest age group to emerge in the Workplace

This is one of the moot point for contribution of Saturation at Workplace

Satisfaction via Talent Engagement

Talent Engagement is psychological and behavioral experience and NOT an event • In engagement, we focus on three elements: say, stay and strive

Organization Talents are said to be engaged when they:

• SAY - Speak positively about the organization to co-workers, potential employees and customers

• STAY - Have an intense desire to be a member of the organization • STRIVE - Exert extra effort and are dedicated to organization and its objectives

How to bring in Satisfaction ? Key Talent Engagement Drivers

Career Management – Job Enrichment – Frederick Herzberg ( 1950 )• A range of tasks and challenges of varying difficulties (Physical or Mental)• A complete unit of work - a meaningful task• Feedback, encouragement and communication

Turning Effort into Performance

Performance Management – No Single Jacket Formula (Different instruments for different Groups)• Clear definition of the reward is a must• Explanation of the link between performance and reward is important• Make sure the employee gets the right reward if performs well• If reward is not given, explanation is needed

Linking Performance to Rewards

Paving the path for Satisfaction in the Saturated Industrial Environment

Pooh’s Panacea

Talent Engagement is becoming more important than ever and talent retention can act as a key competitive advantage for businesses over the coming years –

• Conduct annual engagement studies - To facilitate the engagement monitoring process, firms should be conducting annual engagement studies.

• Ensure transparent processes - Engagement monitoring needs to be transparent. Ensuring transparency is a critical element of success for new program development.

• Identify key engagement drivers and threats that most significantly impact workforces - Employers should be benchmarking themselves against these drivers, which will act as the key metrics for monitoring.

Pooh’s Panacea

• Set appropriate targets and goals for your engagement strategy. Goal-setting exercises must be properly designed in order to develop reasonable targets.

• Have multiple strategies - Employers should design strategies for each of their major employee groups: baby boomers, generation Xers, and millennials. By doing this, employees across generations should become more engaged, and will hopefully notice the commitment their employers have made in improving their employee experience.

• Assign engagement champions - By designating an individual to champion the engagement monitoring and evaluation process, a key role is created in the organization.

• Give proper discretion to managers - In order to generate successful engagement monitoring and progress, it is recommended and essential that managers be given appropriate discretion and authority in managing employees.