Alvarez & Marsal (A&M) is a global consulting firm with over 6,000 employees, 65+ offices, spanning over 5 continents. For more than three decades, A&M has set the standard for helping organizations tackle complex business issues, boost operating performance and maximize stakeholder value.
A&M is known for digging in and asking the tough questions. Not only that, but they listen well and are prepared to toll up their sleeves to take action. This helps them solve their clients problems and also quickly act on the needs of own employees. Let's take a look at how one of A&M's divisions, A&M Taxand does this through real-life example.
Asking Tough Questions: Alvarez & Marsal has conducted an employee engagement survey annually over the past few years because they value creating an employee experience that is collaborative, diverse, and inclusive. They strive to cultivate an environment that focuses on client service, entrepreneurship, and having fun. They know asking those tough questions on a regular basis helps achieve these desired outcomes.
Listening Well: It isn't enough to ask the tough questions - you have to listen to the responses. A&M does this by analyzing the data from their employee engagement survey, identifying areas of opportunity, and the acting upon their findings.
Digging In: A common theme that presented itself from A&M's engagement survey results for the A&M Taxand practice was the need for rewards and recognition. Employees within A&M Taxand wanted to be seen for their contributions to the organization, and they wanted to highlight their teammates" success. And while monetary rewards were important, specifically the employees wanted to build the mindset and habits for non-monetary recognition. A&M knew that recognition was a top driver for employee engagement, and so they were committed to finding solutions.
Rolling Up Sleeves: With the Recognition feature implemented at A&M Taxand and their employees taking advantage of the tool, A&M Taxand was faced with the question: "How do we share the great things our people are doing?" They started with one simple yet powerful step: sharing the recognition from the tool directly to LinkedIn. In doing so, they were able to get positive brand exposure and drive top talent to their organization.
Since 2020, A&M Taxand has utilized Quantum Workplace's Recognition Tool: a platform designed to celebrate and motivate employees by highlighting great work and sharing success stories across an organization.
Snapshot of the recognition and work anniversaries feed was also added to The Beat, a weekly email communication from the CEO promoting internal exposure. Thus allowed employees to see and celebrate each other's success. The snapshot also linked directly to Quantum. That created a new habit: quick snapshot of those already recognized in prior week and one step process to add own recognition for fellow team members. As a result of this, A&M Taxand has had more recognition happening than ever before.
Alvarez & Marsal's approach to working with clients through asking tough questions, listening well, and taking action has proven success internally as well. Through this strategic approach, employees are more engaged and their successes are being celebrating by A&M Taxand internally and externally. With an employee- first culture, everyone wins.
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