Mastercard Receives i4cp's Culture Renovation® Award
Beverly Kaye was also recognized and presented with the Industry Legend Award by i4cp
Seattle, WA. March 17, 2022 – The Institute for Corporate Productivity (i4cp) presented its 2022 Culture Renovation® Award to Mastercard in recognition of the firm’s achieving, sustaining, and advancing a healthy and thriving culture. Beverly Kaye was individually recognized for her contributions in the field of human resources.
The best-selling book Culture Renovation: 18 Leadership Actions to Build an Unshakeable Company, by i4cp CEO Kevin Oakes, guides companies in planning, building, and maintaining a corporate culture that drives profits, growth, and business sustainability now and well into the future. As a data-driven company, Mastercard’s approach to measuring culture and helping stakeholders make stronger decisions exemplifies themes revealed by the i4cp research underlying the book.
Chief People Officer, Michael Fraccaro, accepted the Culture Renovation® Award on behalf of the Mastercard team at i4cp's 2022 Next Practices Now Conference. Fraccaro was instrumental in helping Mastercard establish governance, surveys, systems, programs and metrics to shape and monitor a strong and successful culture. The company measures culture quantitatively and qualitatively, creating a holistic way to provide visibility for its management and board of directors to uncover elements that sustain a healthy and vibrant culture. Further, the approach ensures the tone at the enterprise-level is aligned with organizational strategy, risk, and performance goals.
Mastercard created a Culture Health Index encompassing four components: succession planning, employer brand index, an inclusion index, and an innovation index. Within each component index, specific metrics are tracked quarterly or annually and average scores of each are taken to indicate whether results tracked above or below the target range set for each metric and the overall index. Mastercard uses its Culture Health Index to understand priorities and focal points and to aid in discussions about the allocation of capital and resources.
Beverly Kaye – Industry Legend Award
Beverly Kaye, following an onstage session about employee retention, accepted the Industry Legend Award from i4cp in appreciation of her outstanding contributions and commitment to the field of human resources and leadership. Kaye has written several books and has dedicated her professional career to helping individuals, managers and organizations understand the practical “how-to” principles of employee development, engagement and retention.
Kaye joins Marshall Goldsmith as the only other recipient of this award.
Mastercard and Beverly Kaye join Accenture, Dell, Land O’Lakes, Bristol Myers Squibb, and Dr. Alveda Williams of Dow as i4cp 2022 award winners.
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 HR 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.