3M’s Global Human Resources Operating Committee has identified the need for a diverse high performing team to drive the achievement of 3M’s 2016 growth objectives.
“3M’s Human Resource objective is to create a diverse and engaged workforce that delivers sustained growth” explains Nishanthi Fonseka, Head - Human Resources at 3M Sri Lanka. The Global Human Resources Operating Committee has identified business and country needs; marketplace, workplace and workforce trends; and strengths opportunities for improvement, as part of its five year strategic planning process.
“In line with the company’s global strategy, 3M Sri Lanka also aims to focus on employee engagement activities to drive the company’s growth locally” further elaborates Fonseka. “We had a retention rate of 97% last year, the highest in the history of 3M in Sri Lanka. The various training, development initiatives and recognition programmes we provide also contribute to the level of engagement we see today”.
3M globals vision is that the company becomes the talent powerhouse with a diverse and engaged workforce to grow 3M to a $60 billion company. As part of its strategy to grow the business by growing its people, 3M has developed top priorities and development plans. In the talent development front more focus is being placed on enhancing leadership development activities across all subsidiaries and thereby developing a strong leadership pipeline.
“At 3M, we believe that employee empowerment is key to driving business growth” notes Suren Rajanathan, vice president – 3M Sri Lanka. “It has become a vital aspect of the company to encourage employees to exercise their initiative and take decisions to help the customer to succeed. 3M employees are encouraged to challenge themselves by taking risks, in the pursuit of excellence”.
3M follows the 70 : 20 : 10 principle, and believes that leadership development and on the job learning versus formal training has a significant impact on performance today. The company places focus on 10% formal training (3M and external courses, degree sponsorships), 20% relationships and networks (mentor partnerships, industry connections, solid global network) and 70% work experience and on the job training activities (unique on the job developmental goals and timing, challenging assignments).
3M Sri Lanka is an innovation-based company which boasts a catalog of over 1,000 products sold in Sri Lanka that span 25 different business categories. 3M has an income internationally of $30 billion in sales, employs about 84,000 people worldwide, and has operations in more than 65 countries with products sold in nearly 200 countries. The local contingent works with over 30 channel distributors as their ‘partners in innovation’.