RANK 75

Transport and logistics (1)

NUMBER OF AWARDS | 9

Ruwan Waidyaratne
Managing Director

Q: How relevant are awards for businesses today, against the backdrop of increasing competition from both local and international players?

A: At Advantis, our focus has always been on delivering excellence rather than chasing accolades. Awards are a by-product of our commitment to our purpose – Inspire, Connect, Enrich – and the values that drive us every day.

While we don’t participate in awards purely for recognition, we see immense value in the process itself. The rigorous evaluation involved helps us assess our strengths, identify areas for improvement and continuously raise the bar in everything we do. Awards for HR best practices, business excellence, environmental sustainability and brand leadership serve as meaningful validations of our efforts.

They reinforce confidence among local and international stakeholders, showcasing our dedication to excellence in a credible and tangible way. In a competitive landscape, such recognition sets us apart, strengthening our position as a trusted and responsible partner.

More than being mere accolades, they reflect our ongoing commitment to the communities we serve and our drive to create a lasting impact.

Q: Awards reward good performance… what other benefits do they offer recipients, in your opinion?

A: Beyond rewarding performance, awards offer many benefits. Firstly, they provide validation and recognition, boosting morale and fostering pride. At Advantis, we host the Advantis Awards to recognise exceptional contributions, driving motivation and productivity.

Secondly, awards enhance brand reputation and credibility, signalling leadership to customers and investors while opening new opportunities. They offer benchmarking opportunities, allowing companies to assess performance against industry standards.

Awards also generate publicity and media exposure, raising awareness and attracting attention, catalysing growth and solidifying a company’s position as an industry leader.

Q: How should award schemes be designed to inspire and influence companies to achieve holistic growth?

A: Award schemes should primarily focus on performance improvement, enabling organisations to gain valuable insights and identify areas for enhancement. At Advantis, we are highly selective, prioritising credible award schemes amid a landscape of increasingly commercialised, merit lacking awards.

Transparent, rigorous and independent judging processes are essential for credibility – with clearly defined criteria and expert evaluation panels. To inspire holistic growth, these schemes must assess performance beyond financial metrics, embracing a triple bottom line approach that considers social, environmental and economic impacts.

Sustainable practices are vital, rewarding companies that demonstrate environmental and social responsibility, encouraging long-term impact. Equally important is the recognition of innovation and employee wellbeing, fostering creative cultures and workforce development.

Customer satisfaction and community engagement should also be central, acknowledging strong relationships and positive contributions. By recognising diverse achievements, awards motivate balanced growth, fostering a sustainable and equitable business landscape.

Q: What new mechanisms should be introduced to Sri Lanka’s awards and recognition schemes for businesses – and why?

A: Local award schemes should evolve to reflect modern business realities. Introducing mechanisms that prioritise sustainability and social impact is crucial. This means integrating robust environmental, social and corporate governance (ESG) criteria into evaluations, rewarding companies that demonstrate a genuine commitment to responsible practices. This shift aligns with global trends and attracts socially conscious investors.

Another priority for Sri Lanka is digitalisation and technological innovation. Award schemes should recognise businesses that invest in R&D, adopt new technologies and create unique solutions.

Incorporating a best practices sharing component where winners present methodologies to create a learning ecosystem would also be highly impactful. These sessions should serve as a platform to communicate global best practices, ensuring broader industry alignment and innovation.

Additionally, there are limited opportunities for emerging organisations and entrepreneurs with inspiring ideas to thrive. Award schemes should incorporate a dedicated category for such entities, encouraging established organisations to provide funding and mentorship. This fosters a vibrant entrepreneurial ecosystem and encourages knowledge sharing across industries.

Q: And how should award schemes level the playing field for businesses of all sizes, types and origins?

A: To ensure a level playing field, award schemes should implement tiered categories based on company sizes and resources, allowing fair competition. Clear and accessible criteria, simplified application processes and support should be provided, particularly for smaller businesses.

Additionally, award schemes should prioritise impact over scale. Recognising innovation, sustainability and community engagement, regardless of company size, ensures diverse businesses receive due recognition.

Dedicated categories for specific industries and social enterprises enhance representation. Publicly sharing judging criteria fosters transparency and encourages improvement. These measures help create a more equitable and inclusive award landscape. 

Telephone 2167000 | Email info@hayleysadvantis.com | Website www.advantis.world