Seattle, WA, March 30, 2023—The Institute for Corporate Productivity (i4cp) announced the recipients of its 2023 Next Practice Awards. Dow, Experian, Land O’ Lakes, and PwC were recognized for outstanding innovations and achievement in the advancement of people practices.
Winners were honored at the i4cp 2023 Next Practices Now Conference, March 27 – 30 at the Fairmont Princess in Scottsdale, AZ. The award-winning submissions centered on initiatives to drive digital innovation, upskill and reskill employees, and strengthen diversity, equity, and inclusion (DE&I) programs:
- Dow— Global materials science company, Dow, uncovered the power of Employee Resource Groups (ERGs) to enhance employee satisfaction, engagement, productivity, and business value. They expanded ERGs to focus on 7 key areas: value proposition, inclusion and diversity governance, measurement and accountability, strategic alignment, engagement and activation, advocacy and action, and innovation and business success. This focus nearly quadrupled participation in the groups, which represents more than 22,000 global employees. The team at Dow witnessed a positive correlation between participation and overall employee satisfaction. Having harnessed the power of ERGs, Dow remains committed to finding new and creative ways to drive meaningful connection, engagement, and impact.
- Experian— Experian, a top global information services company, heard its employees loudly and clearly through listening surveys—they like remote working. However, the company also recognized a need for innovation and continuous growth in business during a tough economy. With a strong purpose to create a better tomorrow for clients, consumers, the community, and employees; Experian focused on employee well-being by providing a choice of home- or office-based work location, DE&I integrations, well-being resources, creating meaningful avenues for connections to drive business results and maintain a healthy culture.
- Land O’ Lakes—As one of America's premier agribusiness and food companies, Land O’ Lakes introduced the idea of Flex Manufacturing to help meet supply demands and reduce turnover and talent gaps in its workforce. The organization targeted college students, unretires, and parents/caregivers who needed flexible working hours and changed previously required candidate experience requirements to create a flexible solution that would better meet supply needs. Early returns on Flex Manufacturing at Land O’Lakes have been positive, with a significant drop in turnover, an expansion of roles, and a record number of applicants and cost savings.
- PwC—Global consulting provider PwC embarked on a journey to change the people experience within the company to meet the evolving needs of both team members and clients. The new experience is built on continuous listening, leveraging global people surveys and other informal and formal listening channels to help shape the approach. The company also focused on embedding well-being into the day-to-day environment for team members. PwC has plans to launch a new, integrated, tech-enabled talent marketplace that connects the needs of the business with employees’ goals, interests and skills. The aim: to help guide individuals in managing their careers by seamlessly integrating how they track skills development, create personalized learning plans, and explore and apply for open opportunities. In addition, PwC will also provide more leadership development opportunities, more varied career models, and reimagine performance management.
The discovery of next practices—human capital strategies that are highly correlated with better market performance, but that most companies have not yet adopted—is a primary focus of i4cp’s research. To that end, i4cp looks to its network of member organizations to uncover world-class examples of next practices in action. The Next Practice Awards showcase the design, implementation, and measurement of innovative people practices that effectively address business challenges. Detailed case studies of the four award-winning next practices are available on i4cp.com.
i4cp is the leading authority on next practices in human capital management. i4cp produces more research than any other human capital research firm in the world, and many of the world’s most prominent organizations and human resources leaders turn to i4cp to better capitalize on emerging workforce trends. Supported by a powerful community of human capital practitioners, i4cp provides insights that help organizations better anticipate, adapt, and act in a constantly changing business environment.