88%
of our members voiced their opinion to make Marico a futureready workplace
Integrated Annual Report 2022-2023
People
Over the years, our people, values and culture have formed the foundation of what Marico is today. We have always empowered our people to deliver the right outcomes for the business and demonstrate resilience in the face of challenge. We nurture a future-ready, inclusive and a happy workplace culture for all Mariconians.
of our members voiced their opinion to make Marico a futureready workplace
of our members have strong sense of belongingness and connectedness with Marico We had consistent high member engagement score of
through the year,
above global benchmark
of our members are deeply connected with Marico purpose
of our members say that Marico provides great opportunities to learn and grow
*engagement scores are measured on favourability
of our members experience Marico as an inclusive workplace where diverse perspectives are valued
of our members experience Marico as a harassment and discrimination-free workplace
talent diversity in decision-making roles (Managers & Partners)
talent diversity in our leadership positions (partners & CXOs)
Greater than
gender diversity in our consumer facing functions (Marketing and Technology)
diversity in hiring at Manager & Partner level in FY23
promotions and
internal role movements opportunities provided to members, in line with their aspirations
of leadership positions have been filled with internally groomed talent
of new hires in the Partner grade include Ex-Mariconians who re-joined Marico family
members recognized for their commitment to Marico through Long Service Awards
Marico Volunteers cleared
KGs of Environmental waste across Marico locations
Volunteers supported Creation of Marico Forest with
trees, contributed through various initiatives under #MaricoGreenFootprints
Volunteers recorded
Audiobooks to be donated to
visually impaired students
At Marico, we believe that membership is superior to employee-ship – our ‘People First ethos’ is built on the core tenets of trust, transparency, inclusion, and integrity. As an organization, to accelerate our next phase of growth and transformation with Marico 3.0, we are committed to strengthen critical pivots of organization structure, talent, leadership, and ways of working.
To enable the reshaping of business strategy, we continued to bring synergy in talent, culture, and capability practices through ‘GROW’ umbrella – Our Talent strategy roadmap to deliver on Business growth aspirations - Grow the business, Refresh the culture, organize for future, Win with talent.
We have taken significant strides in laying a strong foundation to enable the next leap of growth through focused efforts in building a futureready, inclusive, and happy workplace for all mariconians.
Marico provides depth and breadth of learning offerings not only to strengthen member capability for their current roles but also to help them prepare for the future of work and develop them into ‘leaders of tomorrow’. Our Personal Development Planning (PDP) process provides a structured opportunity for members to get feedback on their readiness for higher level roles. This helps each member craft their own Individual Development Plan (IDP) linked to the functional competencies.
Career enhancement at Marico does not mean only an incremental change in responsibilities. It requires members to take on increasingly complex role deliverables and requires significant change in their mindsets and behaviours as they build Marico 3.0. To ensure a smooth and accelerated transition, Marico provides highquality leadership development inputs through journey programs, focused on developing functional competencies, deepen business understanding and enhance leadership potential. These journeys include LEAD with Impact, Skill Up and Operations Leadership Program (OLP). These journeys are further strengthened thorough assessments and with the help of internal and external facilitators, virtual simulations, mobile based learning etc.
Today’s evolving marketplace and workforce has further reinforced the need for building digital capabilities a strategic growth imperative. Increasing competitive intensity, the rise of big data, the changing workforce, and technologies such as robotics and Artificial Intelligence (AI) have sharply changed how we live and work. At Marico, we continue to invest in building organisational capabilities to not just deliver value in the present but also be equipped for the future. Our ambition is to make sure all members can reskill, upskill, work more flexibly, and adapt to the future of work.
We have deployed several Digital Capability building initiatives, which are closely linked to our business priorities. These include
1. Digital Enablement Journey Chrysalis was designed to explore the deeper nature of the digital technologies and exponential trends, and to learn to execute in the digital world by
2. Digital Marketing Certificate Program by Wharton - To further build on the advanced level skills of members in the domain of Digital Marketing, we deployed an advanced learning journey in association with Wharton Executive Education. This journey is designed by world renowned marketing professors at Wharton School. The focus is on key marketing skills to upskill members in domains like omni-channel marketing, marketing analytics, social media strategy and analysis, and datadriven customer-centric approaches to customer retention.
3. FutureSkills, an initiative by NASSCOM and leading IT & ITES companies, is “A Skilling Ecosystem focused on Emerging Technologies” to upskill our Members in the Business Process Transformation and Information Technology domain. It is designed to:
4. Demystifying Data Science: A learning journey focused on Data and Analytics to upskill members on data-driven decision-making and using data and analytics to enhance process efficiencies and improve business outcomes.
At Marico, we continue to invest in empowering our members to take ownership of their own learning and development and to thrive in this dynamic environment. We have enabled access to a machine learning driven intelligent Learning Experience Platform (LXP), providing highly personalized learning, available anytime, anywhere for all our members. We continue to explore newer channels of learning with some of the best-in-class content and technology platforms. Additionally, our Learning Guideline is a testament to the organizational commitment of partnership in member capability building. Under this guideline, Marico fully / partially sponsors eligible members investing in building business relevant capabilities for themselves.
With a focus on driving exponential growth through the 4Ds & hiring for future ready skills, we have initiated multiple programs to build Diversity in our talent pool. We have further strengthened our efforts in this direction through multiple initiatives:
We have leveraged job portals like Naukri, IIMjobs & social media platform like LinkedIn to reach out to prospective talent resulting in faster hiring closures and direct cost savings.
We encourage our Members to refer professionals from their social network & get rewarded for every successful referral. 13% of vacancies at the junior and mid -management level were filled through our referral program.
Our strong alumni network acts as a potential source of talent pipeline for us. Through our re-hire policy, we have welcomed several ex-Mariconians back into the Marico family.
With a focus on incorporating thought diversity in our talent, we hire Graduate Trainees from top institutes like Shri Ram College of Commerce, Lady Shri Ram College for Women & Shaheed Sukhdev College for Business Studies. The trainees work on several cross-functional projects enabling an all-round learning and development for them. This year, the second batch of GLP has been successfully onboarded and they are undergoing the 18-month program before being absorbed in different functions at managerial positions.
With our focus on grooming young talent, we proudly secured the , 7th rank as the most desirable FMCG/Beverage Company in B-Schools in the Dare2Compete Award. This is a testimony to our robust campus programs which are among the strongest sources of upcoming young talent from premier B-Schools.
Our flagship leadership program, IGNITE provides a holistic learning to the management trainees who undergo cross-functional stints under the close guidance of the leadership. Along with imbibing an early ownership and responsibility through multiple live projects, regular mentorship connects help in an all-round development of the management trainees. The number of leaders at senior positions who joined us as IGNITE management trainees are a testimony to the success of our campus program and an inspiration for the new batches.
The 2-month internship program for students from premier B-Schools provides them an opportunity to work on highimpact live projects under the guidance of the leadership. In efforts to make our program holistic, this year we went international and provided the interns opportunity to work on cross-geography projects to enable them to grow beyond
This year, we went global, and Marico Bangladesh also launched their version of Over the wall. Our flagship case competition this year was bigger than ever and received an overwhelming response with over 12,700+ registrations from over from 33 B-Schools. The competition, in line with our philosophy of nurturing and mentoring young talent, provides students an opportunity to share innovative business ideas and a chance to work on live projects.
of campus hires are women (Including STAMP Interns, IGNITE & LLP Management Trainees)
To further increase the focus on Digital as one of the 4Ds in our journey towards institutionalizing Marico 3.0 , the following major interventions were adopted & executed:
Overall, with a focus on attracting the best talent there have been multiple initiatives on enhancing candidate experience through our new employer brand proposition via various channels like Marico Career Page, Social Media Platforms, chatbots, B-school students interaction etc.
Within the in-house portfolio, there has been a sharp focus to build the Business Units (BUs) as separate and agile organization within Marico. We laid a strong foundation with the right business strategy, talent mix and core cultural pillars in last one year :
Inclusion & diversity has been identified as one of the four key drivers of Marico 3.0 journey and is one of our key talent priorities. We truly believe that building an inclusive environment where diverse individuals thrive, will help us in building organizational resilience. In times, where constant disruption and change is a norm, access to diverse and engaged talent will be a competitive advantage to meet the changing customer needs, aspirations, and expectations.
In the last few years, we have made significant strides in enabling our policies, processes, and infrastructure to incorporate needs and requirements of diverse individuals at an organization wide level. This includes making all our policies gender neutral, extending same-sex partner benefits for members identifying on the gender spectrum and building disability friendly infrastructure in some of our key sites.
However, now we are shifting our focus to identify needs of smaller diverse cohorts and address those through niche custom solutions. Over the last year we have focused specifically on Women in Sales, Persons with Disability integration and focused on building greater inclusion in specific teams through targeted interventions.
In alignment with our People-first philosophy, we continue to accelerate our efforts to bring-in further policy, programs, and infrastructural changes to build a more inclusive workplace.
To ensure continuous tracking and adherence to our internal and external policy and I&D vision, we have ensured the following:
Diversity thrives in an environment that is enabling and where each individual is able to bring their authentic selves to work. In order to foster a culture of inclusion we regularly sensitize and create awareness around diversity and inclusion related concepts that are important to build a workplace where each individual has a chance of equal success.
In the past year, we have created more awareness around importance of visible Allyship and have focused on onboarding members across teams and geographies who are passionate about Inclusion and Diversity and are keen to become champion I&D goals.
To ensure that Marico provides equal employment opportunities to candidates irrespective of diverse backgrounds, following are our focus areas:
In order to enhance organization effectiveness while strengthening Marico culture, our focus is to create High Performing and Innovative teams, nurtured with trust and care. Through the year, our utmost priority has been to continuously listen to member needs & aspirations and align our people practices to support their holistic wellbeing and growth.
of our members voiced their opinion to make Marico a future-ready workplace
We had consistent high member engagement score of
through the year, 6 points above global benchmark
of our members are deeply connected with Marico purpose
of our members say that Marico provides great opportunities to learn and grow
of our members have strong sense of belongingness and connectedness with Marico
of our members say that Marico takes care of their wellbeing
members recognized for their commitment to Marico through Long Service Awards
iii. “Amber - CEO’s personal digital assistant” is a Chatbot developed to communicate with our new members and take their regular feedback. Amber enhanced our connect with the new members and ensured their sustained engagement with their team and organization
Events organized
Volunteers engaged
Volunteering Hours
Covered
*SDG = Sustainable Development Goals
At Marico, we believe that people are at the core of an organisation’s success and hence protecting member wellbeing has been our foremost priority. Basis the data from numerous member listening exercises, we are constantly evolving and adapting best practices across four pillars of wellbeing e.g., Mental, Physical, Financial, and Social wellbeing to create a workplace where wellbeing conversations are encouraged, acknowledged, and supported. Some of the notable initiatives are as following.:
of our members say that Marico takes care of their wellbeing.
of our members say that they can openly discuss mental health challenges and concerns with their supervisor at Marico.
