The world around us is constantly changing, and we juggle our priorities and responsibilities to keep pace with the change. But with all the chaos around, we often forget what satisfaction means. Being happy involves taking deliberate effort. When I look back at when I started my career, I was barely stressed. Even the employee attrition rates for organisations were lower back then. People enjoyed more mental peace because they were able to disconnect from the constant buzz around them. Today, everyone I know is constantly glued to their cell phones and replying to emails all the time. Although technology has contributed in increasing productivity, it has changed many things along the way—multi-tasking has affected our ability to focus; peer-to-peer comparisons have peaked; and our happiness gradients have fallen.

This impacts organisations as well. The challenge today is to build a company that sustains for longer periods with happy and satisfied employees who are able to deliver value to the organisation. Below are some thoughts about focussing on the happiness of employees, which in turn would lead to the success of the organisation as a whole.

Bring in the child-like happiness

It’s not surprising that while we are constantly glued to our smartphones or other devices, we find it difficult to admire little things around us, like enjoying the fresh air as we hurry for a meeting or even observing what’s happening around us. For instance, the other day while dining out with my family, I spotted a friend at the restaurant and called out to him. But he didn’t even notice me, since he was so consumed in his thoughts while looking at his laptop and working diligently. I’m sure many of us can relate with such incidents. But as we become so deeply engrossed in our work, we should also guard our connections, our health, our personal relationships and our child-like enthusiasm.

It is also an organisation’s responsibility to bring in child-like enthusiasm among employees and to break the monotony to help them be worry-free. As a child, I was carefree and never thought twice before expressing an opinion I felt was right. I also loved experimenting to see how things work. Most children are like that. This approach of allowing employees to express their thoughts freely and providing them an environment where they don’t have to worry about making mistakes when trying new things, will encourage them to be excited at work.

Caring for employees

Caring is about making sure your employees are happy where they are, and taking care of their physical and mental well-being. I strongly believe that caring and responsible organisations play a critical role in spreading happiness among their employees. It is important to invest in people’s well-being and to care for their career. Give them a purpose in their work-life with attainable goals and a culture that helps them achieve it. Mentor and guide them whenever they need assistance. Employees should know that whatever comes their way, their organisation is always there to back them. Doing so will help them come up with innovative ideas and voice their thoughts. This benefits the organisation both in terms of novel products and services, as well as by creating a positive perception of the company culture in the eyes of its employees.

Clarity in goal-setting

A great way to ensure that everyone is working towards the same goal, i.e. the success of the organisation, is to integrate everyone properly into the overarching strategy. Hence, there needs to be clarity in terms of Key Result Areas (KRA). Talk to employees about where the organisation stands and how they can contribute in achieving the targets. I feel this clarity is crucial in spreading happiness among people. The more realistic and transparent the organisation, the better employees know what’s expected of them.

Growth of organisation correlated with growth of employees

An individual joins an organisation thinking s/he will be able be able to grow in their career through this association. It is, then, the responsibility of the organisation to create opportunities for new experiences to realise this career growth. Nurture your employees by providing them the necessary training and tools to help them achieve their goals. Rather than just thinking about your organisation’s vision, also think about your employees’ vision, and craft mutually aligned goals. Employee satisfaction and loyalty will automatically rise when people understand that their employer cares about their individual growth.

You must also measure happiness levels from time to time through surveys and other tools to understand what motivates people. If needed, modify your approach accordingly.

Unhappy people will not care what’s happening to the business. Build an employee-driven culture that fuels curiosity, freedom and motivation at a micro level to achieve the macro targets of the organisation.

Author(s)

  • Tapan Singhel

    MD & CEO

    Bajaj Allianz General Insurance

    Tapan Singhel has a rich experience in the insurance industry of more than 30 years. He has been with Bajaj Allianz General Insurance for over 20 years and is the Company’s MD & CEO for close to 10 years. He also chairs the CII National Committee on Insurance and Pensions. He has been the President of Indo-German Chamber of Commerce and is now a board member. Under his leadership, the company has emerged as one of the largest and the most profitable private general insurer in the country ensuring growth, profitability and customer-centricity. In Mr. Singhel’s decade long stint as the MD & CEO, the Company has achieved a cumulative underwriting profit of more than ₹ 350 crore, grew its revenue at a CAGR of 16 %, grew its net profit (PAT) at a CAGR of more than 30% with a double growth in solvency ratio from 156% to close to 350%. Customer obsession and passion to do good for the people are what drives Tapan and his success in the industry. A scientist by education, but insurer at heart he works towards making a difference in the lives of people in whatever little way he can. Tapan has not only transformed the company, but has also been a trendsetter in the insurance industry by always taking the first leap towards innovating to enhance the customer service standards. Under his able leadership, Bajaj Allianz General Insurance has transformed the distribution of insurance by being the first company in the country to start Bancassurance. He also envisaged and implemented, Virtual Sales Office, which is a 100% digital office. Addressing customer worries is what drives him to ideate and implement innovative products and services. For instance, settling motor claims in a matter of minutes with the help of Motor OTS, taking care of new-age cyber risk through Bajaj Allianz Individual Cyber Safe Policy, industry’s first Pet Dog Insurance policy and introduction of Health Infinity, a health insurance policy with unlimited sum insured. His leadership has been recognized across the globe. He was honoured as the 'Personality of the Year' at Quantic’s BFSI Excellence Awards 2021, India Insurance Summit & Awards 2019, 22nd Asia Insurance Industry Awards 2018 and Indian Insurance Summit 2017. He was also awarded the title of Best CEO at Insurance Asia Awards and was recognized as the Most Promising Business Leaders of Asia 2018 by The Economic Times. By always imbibing the principle of empathy towards customers and employees, he has been instrumental in the organisation being recognised on various forums. To name a few, Best Digital Insurer in Asia for IDC Financial Insights Innovation Awards 2021, Non-Life Insurer Provider of the Year by Outlook Money Awards 2020, Best Motor Insurance Provider of the Year at the prestigious Business Today-Money Today Financial Services Awards 2021. The Company has also won the coveted Porter Prize award under the category of Creating Distinct Value in 2019. Tapan is known for his ‘Communicative Leadership’ style, where he believes in engaging regularly with employees and customers through social media.