For years, Innovisor has been the wing-person of a company that has conquered the financial services industry.
Initially, their focus was one country. Financial services and solutions were mainly developed and launched from HQ where 86% of the workforce was working from.
Now, four years later, the company is not just acting bigger – it is thinking biggest.
Act Bigger: Acquisition of other companies and expansion to a new continent doubled the workforce and the number of countries in which they operate.
Thinking Biggest: It is also thinking biggest. They have taken the first steps to serve the financial markets on a global scale. Building and growing a global business support hub by 700%.
How To Scale When Becoming More Decentralized?
In navigating their expansion, internal engagement has been crucial to their organizational vitality. A dynamic and connected workforce is not only more likely to exhibit higher levels of productivity, creativity, and commitment but also serves as a pivotal factor in attracting new talent.
What to do – and what NOT to do – to increase engagement?
The company focused on the engagement parameter ‘I would recommend my company as a great place to work’ as the crucial success factor. By employing Innovisor’s Key Driver Analysis, Innovisor pinpointed the variables most affecting this critical success indicator. This insight empowered them to precisely identify actions necessary to improve this effectively.
In the initial years of our continued partnership, the drivers were consistent company wide. However, a new trend emerged as the company expanded to new locations, where different areas of the business are motivated by a different mindset than initially observed.
The growth story was driving the engagement of the people in the beginning of the continued partnership. Sentiment showed that there was huge excitement around being a part of a journey to become the leader in the market. Consequently, it was revealed that key variables centered around how senior leadership communicated internal developments and ensured clarity regarding the company’s strategic direction. This insight served as valuable ammunition for the communications team, offering the necessary evidence to effectively convey the desired mindset.
While the company became larger, and more decentralized, the existing flexible and inclusive workplace became an equally important driver to having an engaged workforce. Unlike the earlier interventions, now it was less about effective and transparent communication, and more about how people could access the knowledge and expertise of their colleagues.
Different people for different tasks
While it is vital to understand what to do – and what NOT to do – to increase engagement, it is also paramount to know who to engage to succeed!
The 3% – identified through the #ThreePercentRule – were involved with merging two of their drivers: (1) the growth story, and (2) the flexible and inclusive workplace.
Through conversations with the 3%, the project team understood that the growth story did not resonate with the employees; it was too externally focused. This feedback prompted the project team to incorporate an internal narrative that emphasizes the vital operational elements of inclusivity, connectivity, and fostering a sense of belonging among employees.
And was it helpful?
In conclusion, this multi-year project has not only laid the foundation for an engaged workforce but has also instilled a resilient spirit within the company. While the destination of becoming the most successful and engaged workforce in the financial market is still on the horizon, the company is confidently navigating toward that goal.
By working with the 3%, the company managed to sail through stormy weather such as the COVID-19 pandemic. They couldn’t do this without the detailed insights they got from them with whom they co-created initiatives.
This prioritized initiative maximized the effect with spending limited resources because nothing is as bad as adding an extra workload to these people.
Reflecting on the journey, it’s clear that sustained success is not a destination but an ongoing pursuit—one shaped by listening, learning, and evolving alongside those instrumental to the company’s success. Moving forward, the lessons learned and bonds formed with these key people will propel the company toward its vision of unparalleled success and engagement in the financial market.