Exclusive interaction with Sanjiv Kumar, SVP & Head Of Human Resources, DSP Investment Managers

“People Thrive In A Purpose-Driven Learning Environment, Irrespective Of Where They Work From”

 

“Research shows that people thrive in a purpose-driven learning environment. So it’s imperative that firms provide a strong framework for people to stay engaged and inspired. Coaching employees to accomplish more, holding one another accountable by giving them constructive feedback and being a good peer are key to a high-performing culture,” notes Sanjiv Kumar, Senior Vice President and Head Of Human Resources, DSP Investment Managers.

In an exclusive interaction with HR.com, Sanjiv talks about the future of performance assessment, recruiting and employee experience, how DSP responded to the workplace challenges caused by Covid-19, and his learnings during the pandemic period, among others.

Excerpts from the interview:

Q: How did the Covid-19 crisis affect your workforce and business? What has been your biggest challenge during this period? How did you address it?

Sanjiv: We have witnessed a drastic change in the way we work, collaborate and balance our lives. Much before the social distancing measures announced, we encouraged remote work for our employees.

People are our most valuable assets. Ensuring that our employees and their families are safe and healthy, staying in touch with them and business continuity were our top priorities. 
 

Our biggest leadership challenge has been how we, as a company, respond, recover and re-invent for the new normal. 

Our leadership team has been at the forefront – from building employee confidence, creating task forces and communicating often with compassion to introducing pandemic friendly policies – and our unwavering commitment to our employees has been steadfast   

Q: How are changing business priorities and personal circumstances affecting employees’ ability to meet performance expectations owing to the pandemic?

Sanjiv: Our endeavour has been to ensure that the business runs as usual and also to communicate our realistic performance expectations to employees. Every employee, in every location, is digitally enabled to be as productive and safe as possible.  

All of us at DSP use our digital platforms daily for one-on-one discussions, feedback conversations, meetings, and collaboration. 

The Covid-19 pandemic has replaced personal one-on-one conversations with virtual sessions. It sometimes becomes difficult when someone reaches out to another employee and expects the other person to be an active listener. In fact, managing teams virtually offers greater flexibility. However, real-time accountability is the responsibility of every individual, and should be done whenever required, irrespective of whether the person is communicating in person or virtually. 

Q: Performance assessment has always been based on goals and outcomes. Is this changing owing to the current pandemic scenario? How?

Sanjiv: My view is that the core purpose of any high-performing culture is to enable individuals and teams to perform at their best and eventually differentiate between low and high-performing employees. The key question for leadership is, ‘What skills and behaviors are needed for a business to be successful?”, both during the pandemic and in the world that will follow.  

Research shows that people thrive in a purpose-driven learning environment. So it’s imperative that companies provide a strong framework for people to stay engaged and inspired. 

Coaching employees to accomplish more, holding one another accountable by giving them constructive feedback and being a good peer are key to a high-performing culture. 

Q: What sort of new performance evaluation metrics have you initiated at your company?

Sanjiv: We are a value-based firm. Our endeavor has been to strengthen our culture of high performance by making it more robust. At DSP, how we achieve our goal is as important as what we achieve. 

We continue to refine our current measures with a focus on processes, performance, digitization learning and innovation. This is an ongoing process. Also, the firm strongly believes in having high standards for both great work and great relationships. Equal value has been placed on the demonstration of exemplary work behavior. 

The role of continuous feedback and strong communication in development has been integral to our values. 
  
Overall, we have aimed to stay realistic and reasonable. 

Q: How have your priorities undergone change during the pandemic era? What are your priorities in 2021?

Sanjiv: Keeping people engaged, providing a clear sense of purpose and giving employees a voice will be some of the key priorities for the future. 

Finding and keeping talent will be a huge challenge in every world. Companies will need to pay careful attention to their employees’ value proposition – the reasons why these extraordinary people were attracted to working with them in the first place. 

Leadership will have to be visionary in a volatile environment. In a complex and ambiguous environment staying agile and collaborative will be necessary too. 

Q: What has been your biggest learning during this crisis?

Sanjiv: There has been a series of learnings during this period.
 
Most Importantly, I have realized that it is not the toughest or the most powerful, but who could adapt and survive, succeed. People who have adapted and stayed resilient have learned to deal with difficult periods. These behaviors are going to be our future drivers of leadership success. 

Q: How will the HR landscape evolve and how should talent leaders reimagine workforce management, wellbeing, and recruitment in 2021?

Sanjiv: Virtual workforce is here to stay. When the world opens back again, many would prefer to continue working from home. Given the shift that’s increasingly virtual, and more disconnected from office, firms will need to focus on building digital communication and collaboration platforms to stay connected. 

Moreover, employee experience has taken a new meaning. In-person connections have become technology-based. So giving employees a voice, listening to their deepest concerns, issues and turning relevant feedback into action will have a lasting impact on engagement levels in a perilous world. 

Recruitments will look different from today as companies are migrating toward a blended workforce and this will need a shift in the workforce strategy.  

Q: What are some of the HR legal and compliance challenges you expect in 2021?

Sanjiv: The rules with regard to the new Labor codes announced by the government are yet to be finalized. It will need further study to determine the status and the ensuing opportunities and challenges. 

Q: How have you been supporting your employees during the Coronavirus pandemic?

Sanjiv: Our aim has been to keep employees safe and healthy and provide a supportive environment. For many of our employees, this change is also about forming new habits, and building new routines as they continue to work from home. 

Some of our key wellness initiatives have been to put together essential tools for employee awareness, introduce policies that are pandemic conducive, provide counselling service and initiate regular programs to stimulate mental wellbeing.  

We also communicate frequently with our employees – either one-on-one or in teams or groups. Making leadership visible has helped us to stay open, supportive and productive. 
 

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