Driving Engagement and Retention at YTY: The Role of Purpose and Meaningful Work in HR Strategy

Ravi Ragunathan, the Chief Human Resources Officer at YTY Group, is a visionary leader with over 25 years of experience in the Pharmaceutical, Life Sciences, and Medical Devices sectors. Renowned for his ability to transform HR functions from mere transactional operations to strategic partners in business, Ravi has been instrumental in driving business growth through people strategies. He has a proven track record of building strong, competent teams, navigating through crises like the COVID-19 pandemic, and ensuring a high level of employee engagement and satisfaction. Ravi’s leadership is marked by his empathetic approach, strategic mindset, and commitment to fostering a culture of inclusion, innovation, and excellence.

What Does Meaningful Work Look Like?

“In today’s workplace, employees are seeking more than just a paycheck. They want to find meaning in their work,” says Ravindran. Research shows that while compensation is crucial, other factors, like meaningful work, are taking center stage in driving employee engagement and retention.

Ravindran explains, “Meaningful work can lead to positive business outcomes, including better performance, higher profits, and increased satisfaction. When people find meaning in their work, they are more likely to be engaged and motivated.” Given that we spend half of our waking hours at work, it is essential that these hours feel meaningful.

“When employees perceive their work as meaningful, the entire organization benefits,” notes Ravindran. It not only boosts profits but also improves the quality and quantity of work and enhances stakeholder satisfaction.

 

Three Core Areas of Meaningful Work

1. Personal Values

“Work becomes meaningful when it aligns with personal values,” says Ravindran. Having a reason to come to work daily, knowing that your efforts positively impact colleagues, the company, and the broader community, is powerful. From his experience in the Pharmaceutical, Life Sciences, and Medical Devices sectors, Ravindran has seen how deeply motivating it is to contribute to significant advancements like treatments for epilepsy or protective equipment during the COVID-19 pandemic. Aligning work with personal values fuels dedication and engagement.

2. Work Values

“A company’s core values play a critical role in making work meaningful,” emphasizes Ravindran. When a company’s actions reflect its values, such as decisively handling matters to uphold integrity, it reinforces trust and engagement among employees. This alignment between personal and company values fosters a culture where meaningful work thrives.

3. Workplace Relationships

“Human beings are inherently social, and strong workplace relationships enhance the sense of meaning at work,” Ravindran points out. Collaboration and camaraderie among colleagues lead to higher quality work and greater job satisfaction. People are more likely to stay with companies where they have built solid relationships, both professional and personal.

How to Sustain Meaningful Work in a Company

Ensuring that work remains meaningful requires deliberate actions, according to Ravindran:

• Craft Interesting Job Roles: Tailor job roles to individual talents rather than sticking to rigid job descriptions.
• Assign a Work Buddy: Pair new employees with a buddy for the first six months to help them navigate the workplace culture.
• Set Stretch Goals: Keep employees challenged with ambitious goals to fuel outperformance.
• Quarterly Check-in Chats: Regularly check in with team members to gauge engagement levels and adjust goals as needed.
• Provide Specific Training: Equip teams with the necessary skills through targeted training programs.
• Performance Feedback: Offer thorough, constructive feedback to highlight achievements and areas for development.

Closing Thoughts

“Meaningful work is a cornerstone of employee engagement,” concludes Ravindran. As leaders, it is our responsibility to create environments where employees can find purpose in their roles. By aligning personal and company values, fostering strong relationships, and continuously supporting employees’ growth, we can build a workforce that is engaged, motivated, and ready to drive organizational success.