Tisco Group CEO converts high worker morale into results
Throughout her three years of making happiness and positive thinking among employees the priority of working at Tisco Financial Group, Oranuch Apisaksirikul has been convinced that her vision is the right one.
Since becoming the firm’s group chief executive officer, Oranuch has believed that her method of human-resource management will lead to the business growth.
She said boosting the “emotional quotient” of staff fuelled their productivity. When the employees are happy, they engage with the organisation and do what they can to make the firm hit its targets.
She takes the time to visit employees at all Tisco branches to communicate with them and hear their problems. She then initiates activities that encourage positive thinking.
“We look after all 4,000 employees as if they are members of our family, because we believe their efficiency will be released when they are happy. The efficiency of employees is positive to the business, reflected in the annual growth rate of 30 per cent throughout the past three years,” she said.
Tisco Financial Group recorded annual loan growth of 30 per cent from 2010 to 2012 and achieved record net profits of Bt2.88 billion in the first year, Bt3.26 billion in the second and Bt3.7 billion last year.
The turnover rate has improved to 7-8 per cent over the three years from 15 per cent, compared with the average rate in the banking industry of 15-20 per cent.
Tisco Group recently received the “Best Employer in Thailand” award from Aon Hewitt (Thailand) in col?laboration with Sasin Graduate Institute of Business Administration of Chulalongkorn University. The award represented the company’s high employee engagement, compelling employer brand, effective leadership and high performance culture.
About 70 organisations were shortlisted for the award.
Oranuch said Tisco decided to compete for the award not because it wanted the top honour but because it wanted to test the results of its human-resource strategy.
The group was named best employer because it was found to be above average in all four categories. In terms of employee engagement, Tisco scored 80 per cent compared with 61 per cent on average. In the compelling-employer-brand category, it got 83 per cent against 62 per cent on average. In terms of effective leadership, Tisco got 92 per cent against the average of 59 per cent, and for its performance culture it scored 77 per cent, against the average of 57 per cent.
Though having 80 per cent of its staff “highly engaged” with the firm may be an unusual achievement in the financial sector, Oranuch is keen on winning over the remaining 20 per cent as well.
“We also carefully screen first-jobbers to ensure they will stay with us for the long-term because like other sectors, the financial sector is facing a labour shortage,” she said.
She noted that the group was evaluating the efficiency of employees to encourage them to climb the career ladder.
“Our employees know that Tisco is ready to offer them a chance to be high-level executives if they put in full effort. Even though we set our targets high, Tisco does not leave its employees to work alone – we are ready to help them to reach the targets,” she said.
