This article is brought to you by Lee Kum Kee.
The way that companies lead through a crisis correlates strongly with employee retention intent.
According to the 2021 Global Employee Survey by Globalization Partners, more than half (56%) of respondents reported their perception of their company leaders had stayed the same or worsened since the outset of the pandemic. However, for the 44% that reported an improved perception of company leaders, they plan to stay at their current company for more than three years.
As the economy bounces back, HR teams brace for a wave of resignations. How companies have steered through the COVID-19 crisis will reflect in their business performance. HR is critical in developing a strong corporate culture and a collaborative and engaged workforce.
“Maintaining employee morale as well as a steady supply of product and services is critical to retaining stakeholders’ trust and loyalty during a crisis,” said Derek Wu, Executive Vice President – Global HR at Lee Kum Kee.
The Hong Kong-based company, which has been in operation for more than a century, has seen its way through its fair share of crises. The key, according to the award-winning brand, is adopting a holistic approach to managing its human resources, strengthening its people strategy, and prioritising the impact of people.
Communication may seem simple enough, but it can easily be the missing link between crisis and calm. During COVID, Lee Kum Kee established a task force to ensure potential risks and issues were being considered and managed, as well as to keep the staff abreast of news, both internal and external. Keeping dialogue open means Lee Kum Kee is able to readily support and take care of its staff according to their needs.
Employee wellbeing and safety are the top pillars of Lee Kum Kee’s crisis management strategy.
“Only when our staff feel protected, safe and secure can Lee Kum Kee deliver safe and high-quality products to its consumers,” Wu said.
Keeping staff motivated can be tough during a crisis. That’s why Lee Kum Kee offered its employees both compensation and non-monetary awards to demonstrate its commitment to its staff. It also provided online learning opportunities for staff to acquire new knowledge and develop skills for future career development.
“Fostering trust, integrity and a collaborative team spirit between the organisation, leaders and employees is one of the critical success factors for a company to achieve sustained development before, during and after a crisis,” Wu added.
Photo / HRO HR Distinction Awards 2021