BUILDING REPUTATION
Reinforcing Brands
Prasenjit Bhattacharya
Q: What is the significance of Sri Lanka’s awards landscape from an international perspective?
A: Sri Lanka evokes different thoughts in people outside of the country. Most would look at Sri Lanka as a tourist destination; some know of its unique cuisines and of course, cricket.
Apart from Sri Lankan tea and textiles, not many know about the country’s great organisations and leaders. Even the most successful leaders, some of whom I have had the good fortune of meeting, are rarely well known outside Sri Lanka.
It is in this context that corporates such as Hayleys, John Keells Holdings and Commercial Bank Sri Lanka, which have market caps comparable with global companies, need more brand awareness beyond Sri Lanka if they want to tap into global markets.
Conversely, smaller companies such as 99X, DIMO and Oxford College of Business must build their brands to compete with the big players.
Q: What do you believe is the most important facet of an award – recognition, validation or motivation for continued excellence?
A: People work for reputation more than rewards and punishment. This is true for all humans and the need for recognition is hardwired by evolutionary biology in the human brain.
If credible, awards reinforce the brand that people seek to develop, meet their social and psychological needs, and are often a validation of their hard work.
An award at the right time with no strings attached reinforces the self-image of recipients, thereby sustaining their successful journey. Awards that recognise the values and character of a person or company are even more desirable than awards for competence and results, as business results are often transitory.
Q: What role do awards play in recognising and motivating businesses and working people?
A: Who hands out the awards and how credible is the organisation are the important questions. In a world where giving awards has become a full-time business for some organisations, the credibility of the giver is equally important. It must be earned, not bought.
Great Place to Work® has been awarding organisations for workplace culture in Sri Lanka for over 10 years and more than two decades across the world. Occasionally, not receiving the coveted rank or recognition makes organisations unhappy. This does not impact our brand image as long as it’s understood that the award or ranking cannot be bought.
Awards need not be only external. The award I cherish the most is the one where all our employees vote anonymously to select our value champions. This award can only be given if more than 50 percent of employees vote on a name for a particular value.
I have never received an award for performance but I’m awarded for two of our five values – viz. transparency and having faith. These awards are a strong testament of the faith of our people, who make it difficult for me to display any behaviour that goes against these values.
“An award at the right time with no strings attached reinforces the self-image of recipients”
Q: What unique qualities or standards do you see in businesses in Sri Lanka that make them stand out on the world stage?
A: The perception of a country can lead to unique situations. Businesses in Sri Lanka have had to build resilience and adaptability thanks to the turbulence experienced by a political economy.
Thanks to its exports of tea, apparel and gemstones, Sri Lanka is also associated with a perception of quality.
In addition, Sri Lanka has a diverse English-speaking talent pool. There is less toxicity in the workplace culture with most organisations focussed on employee wellness. Moreover, the country has an added advantage for its geographical positioning.
Businesses in Sri Lanka are well positioned to build brands globally using innovation in niche markets such as IT, fintech and organic farming, in addition to being a logistics hub similar to Singapore and Hong Kong.
