1.1 JOB DESCRIPTION FOR PRODUCT MANAGER
Job Title: Product Manager
Department: Product Development
Reported By: Jr. Product Manager
Prepared on: 3rd February, 2021
Job Purpose/
Summary
Key
Responsibilities
Job Code: 41319
Reports to: Account Manager
Location: Kolkata
Valid Upto: 3rd February, 2022
The role is responsible for business strategy, business development, & end-toend ownership of a product for the company with an objective to devise
strategy to increase existing and new businesses and identify suitable vendors,
coordinate across teams for the same.
Job Description (key responsibilities)
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•
•
•
•
•
•
•
•
•
•
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End-to-end ownership of a product in EasyClick
Research and recommend new products for the website. Recommend
any required enhancements
Coordinate across teams for any in order to analyze product
requirements. Develop user cases and ensure optimal customer service
and analyze all customer requirements and monitor all requests and
manage all defects in products for all monthly releases.
Create and test strategies and roadmaps to increase existing and new
businesses and identify appropriate vendor.
Coordinate with third parties if needed
Deal and assist with licensing and pricing issues
Analyze and asses the competition, and adapt marketing and pricing
strategies accordingly
Conduct quarterly meetings with the sales team, and weekly meetings
with the analysts.
Conduct various product workshops and assist in product development.
Coordinate with the quality assurance team for defects and
improvements.
Travel for meetings and conferences with vendors.
Train subordinates for optimum output.
Job Specifications
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•
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•
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Established records of goal achievements and accomplishments.
Skilled at leveraging resources to facilitate relationship building & the
art of get things done within a time frame.
Possess strong leadership skills, communication skills, presentation
skills, negotiation skills, problem solving aptitude, adaptability, and
foresight.
Well-developed interpersonal skills, with an ability of being a team
player
Proficiency in Microsoft Excel and Microsoft PowerPoint.
Demonstrates good knowledge on industry and sector classification.
Possess high level of integrity, morals, & work ethics.
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•
•
Reporting to
KRA and KPIs
Possess high level of commitment, passion & motivation.
Ability to work within a time frame and perform under pressure
Ability to guide and train for team development
This Role will report to the Account Manager.
KRA
Measured Against (KPI)
Sales Conversion Rate
Customer Lifetime Value
Customer Acquisition Cost
Revenue Increase
Market Penetration
Consumer Complaints
Target Completion
Target Completion
Reduction in average cost per
acquisition
Target Completion
Increase in the market share
Reduction in returns and
improved average ratings and
reviews.
Culture Code
•
•
•
•
•
Innovation
Constant Personal and Professional Growth
Integrity
Knack for Technology
Passion
Why Join us?
•
•
•
•
One of the top 100 places to work in India
Work in a space open to innovation and creativity.
Get a free hand at experimentation.
Work in an environment that is conducive for mental and physical wellbeing.
Open door policy and fast-paced and startup-like culture.
Generous employee benefits
•
•
Qualifications •
and Experience •
Min Qualifications: MBA (Marketing or General Management)
Experience: At least 5 years in the ecommerce retail industry.
Characteristics of a High Potential Employee
A high-potential employee is identified by his ability, aspiration, and engagement, and has the
promise to become the firm's future leader. EasyClick needs to ensure that the company's talent
pipeline is strong, and that people who demonstrate the requisite skills and passion are given a
nudge in the right direction. There are three main indicators to look for when scouting for highpotential employees. These are:
•
Ability: A high-potential employee possesses both the technical skills as well as emotional
intelligence required for the job.
•
Aspiration: A high-potential employee knows his responsibilities and consistently goes
above and beyond the necessities. They value recognition and gratitude, as well as
feedback, and they are fervent in their pursuit of a more important role.
•
Engagement: The HiPos have a high degree of emotional intelligence and rational
commitment, and they are most likely to remain with the company for a long time.
The drive to excel, catalytic learning ability, an enterprising spirit, and the desire to discover
innovative ways are the four primary attributes of high-potential employees.
The position of the Product Manager was established as the core position for EasyClick in
phase one of the project. The organization intends to promote the high potential employee to
the role of Product Manager over the next two years, owing to an accelerated development
plan. The development plan is an expedited path for select early-stage employees who are
granted more responsibility and control in order to inculcate the necessary skills.
As there will be a movement in the role of the HiPo, the following core competencies need to
be developed in the employee over a period of 2 years.
Key competencies for a Product Manager
1. Leadership Skills
2. Decision-making skills
3. Technical Skills
4. Innovation
5. Communication and negotiation skills
6. Strategic Planning and Implementation at a larger scale
7. Domain specific basic knowledge of all cross-functional teams
8. Time management
Objectives of the Development Program
When designing a two-year growth strategy for High Potential employees, it's imperative to
note the end-goal that EasyClick wants to accomplish with this initiative for both itself and the
employees selected. This will ensure that we don't lose sight of the program's primary objective
when planning diverse aspects of it.
•
For EasyClick
Employees groom and transition into future effective leaders, promote good ethics and
work environments within teams, and assist the company in staying lean and navigating
various challenges.
•
For the employees
Accelerates the development of passionate employees and creates leaders capable of
addressing the demands that the given industry faces
Discovering key success factors of the Development Program
To create a development strategy, we need to identify the key success factors that aid in the
planning of the program and motivation of employees.
Evaluating Employees
Employee progress can be measured using metrics against a list of pre-defined benchmarks by
the program. Employees benefit when assessments are written formally rather than shared
informally because it promotes clarity and encourages them to continue working in
potential growth areas.
Our learning policy establishes appropriate benchmarks for workers and employs a welldocumented formal evaluation methodology. For e.g., a product manager would be measured
based on certain KPIs such as Customer Lifetime Value (CLV), Revenue increase,
and reduction in customer acquisition costs, etc Although rewards will be offered to employees
based on their achievements, the areas of potential growth will get the primary focus. It's
crucial to keep track of how an employee develops and reflects in the aspects that they need to
progress over the course of the two-year journey.
Challenging Employees
To challenge employees, we need to provide them with a framework that puts them
outside their comfort zone, where they can face unfamiliar challenges and come up with new
ways to solve them.
In our programme, we create scenarios in which the product manager is confronted with various
problems. Senior management will document and review the path taken to resolve the problems
in order to determine the extent of progress.
These simulations will assist them in obtaining professional counsel, which they will put into
practise in the future. They will develop their problem-solving and leadership capabilities as a
result of their exposure to certain problems.
Creating a Sandbox Environment
Employees will face rising levels of stress and job burden over the duration of the two-year
program. Organizations must take reasonable steps to aid staff in dealing with the crisis and to
ensure that they do not lose their bearings.
We provide social events such as buffets and outings for these employees as well as senior
management in our scheme. Employees can easily interact with senior employees through these
tasks, share their mistakes, and receive personal input. The information gained from these
experiences can help them deal with high-pressure scenarios. EasyCLick should cultivate a
culture that values both loss and success.
Moreover, a mentorship program with individual mentors getting assigned to the HiPos will
help them build relationships as well get the necessary guidance from an experienced
professional in the company. The mentor’s feedback will further help the employee grow while
also check the stress levels simultaneously.
Planning a Development Program
The sustainable management and retention of high-performing employees is critical to an
organization's performance. As a result, in order to provide a proper forum for early-stage high
potentials, EasyClick has designed a growth strategy dubbed to provide proper guidance and
training to the firm's future leaders.
The development programme spans across four major steps:
1. Articulation of capabilities, strategy and competencies
The organisation will hold interviews with high potential Product Managers to determine the
key competencies needed in a good Product Manager. This will aid in evaluating the skills
needed on a regular basis to succeed in the position and maintain service quality. The company
would still need to identify the objectives it wants to accomplish with this development
initiative, as well as the overall ramifications of the work that a Project manager would be
responsible for.
2. Definition of the organisational context
When the employee is promoted to Product Manager, his or her duties will change. Employees
used to report to the Product Manager, but now that the Product Manager has been promoted,
the Product Manager will report to the Account Manager. This will be the official relationship,
but workers will be encouraged to develop informal relationships as part of the leadership
program and the dominant culture. This will foster a supportive work environment, assist
employees in expanding their networks, and promote holistic growth. The core functions and
duties will change, but they will remain consistent with EasyClick's cultural ethos and
structure.
3. Factoring in individual differences
EasyClick would have to inspire workers to take control of their self-development process in
order to promote and fully leverage any high-potential employee and fully harness their
abilities. Employees' personality differences can be taken into consideration at this time in
order to provide a comprehensive growth plan for them. Employees who are poor
communicators will be given priority, and others who are poor presenters will be given more
chances to change. As a result, at the end of two years, any chosen employee will have a good
understanding of the skills expected of a Product Manager.
4. Choosing the development method
After the first three steps have been completed, the final step ensures that it is able to distinguish
the individual and recognise his skills that are compatible with EasyClick. Feedback processes,
Training programmes, Job responsibilities, and Development relationships can all be used to
ensure that leadership skills are established during his transition from employee to Product
Manager. Since each approach focuses on various facets of leadership, such as experience,
ability growth, and organisational skills, each method focuses on a different part of what it
takes to lead a team and become a successful leader. The growth process is set up in such a
manner that the employee gets a wide variety of perspectives and plenty of chances to reflect
in order to make better choices and recognise high-potential employees for the next cycle.
Structure of the Development Program
The program will be divided into 5 distinct phases spanning over 2 years.
The following phases will facilitate the transition of an employee to a Product Manager:
1. Discovery (2 months)
2. Cross-divisional Domain specific training (8 months)
3. Guided client interaction training (4 months)
4. Simulations and situational training (6 months)
5. Supervision (4 months)
Program Development Methods
The development methods that the program will entail are training programmes, rotation-based
job assignments, building relationships, and detailed feedback.
Training Programmes
Training programs are an important component of any development strategy. We
have activities where employees can get hands-on experience with the problems.
In our scheme, employees are assigned to cross-functional teams that operate in a division for
a few months before being shuffled and a new team assigned to a new division. Each employee
rotates across all departments at least once during the process. Each division's duration is
determined by the mission it is responsible for as well as the existing skill of the employee. As
a part of this process, the employee gains a comprehensive understanding of the business and
will be able to coordinate and work with all the functional teams. Moreover, since a huge part
of a product manager’s role involves client interactions, based in their pre-existing skills,
training in this will be aided via the use of online learning resources, and later, real-world
interactions in order to ensure that proper protocols are followed.
Job Assignments
In this process, employees are given job assignments comprising of different verticals to
explore their talents, and also get acquainted with the minor details of all the functional teams.
In these assignments they develop new competence and brainstorm to develop their own
strategy for the issue faced. These competencies will lie on both the technical side as well as
focus on soft skills.
Here, we have three different kind of job assignments namely leadership-based assignments
and creative based assignment.
1. Cross divisional assignment: Since a product manager is required to coordinate and work with all the functional
teams like namely, finance, marketing and sales, and operations. The job assignments
will include working with these groups regularly to understand their roles and the
challenges faced by them. This will provide the employee a perspective as to how the
other teams manage a situation in their respective domains, and what goes into each
process of the various teams. These job assignments will follow a training for each
group, and it will be followed by the 4th phase of the program, which includes
simulation and situational training, where the individual will be required to test and
polish their newly acquired skill
2. Leadership-based assignment: They will be delegated as a supervisor for a few workers with fewer than six months of
experience in the fifth period of their two-year leadership programme, and a series of
assignments will be provided to the team. The team's success will be evaluated in order
to determine the employees' leadership skills. They will require leadership qualities
when promoted to change in charge, which will be checked in this task, and the
guidance offered will be helpful for them to incorporate in the future.
3. Innovation-based assignment: In the same fifth phase, the employees will be given a problem which would have
different solution but each with their own set of consequences. The employees creative
as well as critical skill will be tested in this assignment. Every choice we make has its
own set of consequences. So here the employees will be given a chance to explore with
new ideas to the problem but they need to also solve the issues due to the consequences.
Building Relationships
In tough situations where employees have reached a dead end and need assistance, these formal
and informal relationships will ensure that they find a solution.
•
Formal Relationship
To make sure the employees extract maximum value from seniors within the
organization, during the implementation phase post onboarding and discovery phase,
they will be put through the Mentorship Program – Right from the beginning, an
individual mentor will be assigned to the HiPo. This mentor will be someone from the
upper management, who has had experience as a product manager, so that he knows,
and is able to guide in navigating the nitty-gritties of the job. Since the mentor will
come from a totally separate team, he or she will be able to provide impartial advice
and feedback in a given situation. Moreover, the mentor will ensure that just the right
amount of burden is being put on the employee. This mentor will guide the HiPo
throughout the program and even after it if the HiPo requests.
•
Informal Relationship
“Buddy Program” will map a newly onboarded trainee to an exit level employee. This
will encourage them to form an informal bond and pose questions about which they
were previously reluctant. During the exploration process, exit-level staff will also
support the employee in fitting in. The most significant feature of this initiative will be
to include feedback from prior encounters as well as big obstacles they encountered in
their early days.
Feedback
It is a procedure in which workers are given the positives and negatives of their work. Owing
to racism, it may be inefficient or counterproductive in general. As a consequence, a proper
feedback system is necessary. We need multiple inputs from different individuals, like
colleagues and direct leads, to prevent these prejudices. In certain situations, retailer or
consumer input is often taken into account. 360-degree feedback is the name given to this kind
of feedback. The information obtained through this method should be carefully analysed to
determine important variables and conveyed to the required employee.
We will perform bi-annual 360° feedback for employees as part of our program, and the results
will be analysed by someone with experience in this area. The feedback must be inclusive, with
both positive and negative feedback delivered in a way where managers could appreciate the
problem and come up with a solution.
This feedback will be different from the one provided by the mentor as it will be provided about
the work in general, and not the day-to-day activities.
Retention of High Potentials
Employee departures cost a company time, money, and other resources. A lot of costs go into
an employee’s training and development, even more so in the case of HiPos, who, if retained,
could be extremely beneficial for the company. To that end, the primary motivators for HiPos
are:
1. Quality of relationships at work – The three compulsory sets of people that product
managers have to deal with are – (a.) their reporting manager, which is the senior
product manager, (b.) their colleagues, including the cross functional teams the
product managers work with, and (c.) the direct reports, the Jr. Product managers.
HiPos expect praise and recognition from these relations as a reward for a job well
done. Moreover, the also look for newer opportunities to grow and improve their
capabilities as well as networking. Exposure and engagement with upper level
management plays a key role in motivating the employees. Some of these
relationships go beyond the formal setup, and transform to social relationships, which
further acts as value addition for the HiPo.
2. Credible commitment to development – HiPos are always conscious of their growth
opportunities and accept constructive feedback, training programs with a very positive
outlook. They look towards not only support, but also active help from the
organization and his or her relations in their pursuit of development and growth.
Training sessions which align with the HiPo’s personal growth aspirations as well as
the organisation’s expectations play a key role in retaining them. These should not
only be focussed on their current role, but also prove helpful in their future prospects.
3. Challenge in job experience – HiPos are hugely motivated by a challenging job which
enriches them in a holistic manner. Involvement of Product managers in decision
making in cross-functional teams enables them to utilize their skills, as well as, instils
a sense of autonomy for their product which further motivates them to continue
working within the organization.
The Plan
In order to ensure the retention of HiPos, the following measures will be undertaken by
EasyClick:
1. Continued Mentorship Program – One-on-one mentorship program that was
introduced during the development phase will be continued. This will provide the
employee with a mechanism to seek advice from an unbiased party in case of any
complicated situation, both w.r.t the job, as well as office politics. Furthermore, the
mentor can groom the HiPo for their future prospects and continue giving them
feedback on their job as needed. This will also ensure that the HiPos feel cared for
within the organisation. The mentor will also gauge the stress levels of the HiPo and
help manage the amount of extra training sessions accordingly.
2. Performance-based recognition and rewards – Non-monetary and monetary rewards
should be provided to HiPos for exceptional performance; this will motivate them to
put in the extra effort. Non-monetary rewards like recognising the best product
manager for a quarter and annually, and competitive payed leaves structure will drive
them for further. Such recognition at annual events will also provide the HiPos the
confidence boost to perform even better. Performance based cash incentives like
bonuses and variable pay will be one of the fore-front strategies. Another reward will
be in the form of a ESOPs or the Employee stock ownership plan, where the HiPo
will be provided a certain number of company stocks as a reward which may be
liquified as per requirement by the individual. These profit-sharing plans, coupled
with direct-cash incentives will motivate the HiPo to continue working with the
organisation.
3. Challenging job assignments – HiPos are always looking towards future growth, and
the biggest avenue for this growth is the on-job experience. In order provide the
product manager with new challenges, he will be assigned jobs to different segments
upon completion of a project. This will ensure that he or she gains knowledge about
various segments which help them with their future prospects. It will further polish
their soft-skills as well by making them collaborate with a large number of people in
the organisation. This will also help them with exposure to various top-level
executives in the organization and improve their relations and networking.
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Characteristics of a High Potential Employee
A high-potential employee is identified by his ability, aspiration, and engagement, and has the
promise to become the firm's future leader. EasyClick needs to ensure that the company's talent
pipeline is strong, and that people who demonstrate the requisite skills and passion are given a nudge
in the right direction. There are three main indicators to look for when scouting for high-potential
employees. These are:
• Ability: A high-potential employee possesses both the technical skills as well as emotional
intelligence required for the job.
• Aspiration: A high-potential employee knows his responsibilities and consistently goes above and
beyond the necessities. They value recognition and gratitude, as well as feedback, and they are
fervent in their pursuit of a more important role.
• Engagement: The HiPos have a high degree of emotional intelligence and rational commitment, and
they are most likely to remain with the company for a long time.
The drive to excel, catalytic learning ability, an enterprising spirit, and the desire to discover innovative
ways are the four primary attributes of high-potential employees.
The position of the Product Manager was established as the core position for EasyClick in phase one of
the project. The organization intends to promote the high potential employee to the role of Product
Manager over the next two years, owing to an accelerated development plan. The development plan
is an expedited path for select early-stage employees who are granted more responsibility and
control in order to inculcate the necessary skills.
As there will be a movement in the role of the HiPo, the following core competencies need to be
developed in the employee over a period of 2 years.
Key competencies for a Product Manager
1. Leadership Skills
2. Decision-making skills
3. Technical Skills
4. Innovation
5. Communication and negotiation skills
6. Strategic Planning and Implementation at a larger scale
7. Domain specific basic knowledge of all cross-functional teams
8. Time management
Page
Objectives of the Development Program
When designing a two-year growth strategy for High Potential employees, it's imperative to note the
end-goal that EasyClick wants to accomplish with this initiative for both itself and the employees
selected. This will ensure that we don't lose sight of the program's primary objective when planning
diverse aspects of it.
• For EasyClick
Employees groom and transition into future effective leaders, promote good ethics and work
environments within teams, and assist the company in staying lean and navigating various
challenges.
• For the employees
Accelerates the development of passionate employees and creates leaders capable of addressing
the demands that the given industry faces
Discovering key success factors of the Development Program
To create a development strategy, we need to identify the key success factors that aid in the planning
of the program and motivation of employees.
Evaluating Employees
Employee progress can be measured using metrics against a list of pre-defined benchmarks by the
program. Employees benefit when assessments are written formally rather than shared informally
because it promotes clarity and encourages them to continue working in potential growth areas.
Our learning policy establishes appropriate benchmarks for workers and employs a well-documented
formal evaluation methodology. For e.g., a product manager would be measured based on certain
KPIs such as Customer Lifetime Value (CLV), Revenue increase, and reduction in customer acquisition
costs, etc Although rewards will be offered to employees based on their achievements, the areas of
potential growth will get the primary focus. It's crucial to keep track of how an employee develops and
reflects in the aspects that they need to progress over the course of the two-year journey.
Challenging Employees
To challenge employees, we need to provide them with a framework that puts them outside their
comfort zone, where they can face unfamiliar challenges and come up with new ways to solve them.
In our programme, we create scenarios in which the product manager is confronted with various
problems. Senior management will document and review the path taken to resolve the problems in
order to determine the extent of progress.
These simulations will assist them in obtaining professional counsel, which they will put into practise in
the future. They will develop their problem-solving and leadership capabilities as a result of their
exposure to certain problems.
Creating a Sandbox Environment
Employees will face rising levels of stress and job burden over the duration of the two-year program.
Organizations must take reasonable steps to aid staff in dealing with the crisis and to ensure that they
do not lose their bearings.
We provide social events such as buffets and outings for these employees as well as senior
management in our scheme. Employees can easily interact with senior employees through these
tasks, share their mistakes, and receive personal input. The information gained from these experiences
can help them deal with high-pressure scenarios. EasyCLick should cultivate a culture that values both
loss and success.
Moreover, a mentorship program with individual mentors getting assigned to the HiPos will help them
build relationships as well get the necessary guidance from an experienced professional in the
company. The mentor’s feedback will further help the employee grow while also check the stress
Page
levels simultaneously.
Planning a Development Program
The sustainable management and retention of high-performing employees is critical to an
organization's performance. As a result, in order to provide a proper forum for early-stage high
potentials, EasyClick has designed a growth strategy dubbed to provide proper guidance and training
to the firm's future leaders.
The development programme spans across four major steps:
1. Articulation of capabilities, strategy and competencies
The organisation will hold interviews with high potential Product Managers to determine the key
competencies needed in a good Product Manager. This will aid in evaluating the skills needed on a
regular basis to succeed in the position and maintain service quality. The company would still need to
identify the objectives it wants to accomplish with this development initiative, as well as the overall
ramifications of the work that a Project manager would be responsible for.
2. Definition of the organisational context
When the employee is promoted to Product Manager, his or her duties will change. Employees used to
report to the Product Manager, but now that the Product Manager has been promoted, the Product
Manager will report to the Account Manager. This will be the official relationship, but workers will be
encouraged to develop informal relationships as part of the leadership program and the dominant
culture. This will foster a supportive work environment, assist employees in expanding their networks,
and promote holistic growth. The core functions and duties will change, but they will remain consistent
with EasyClick's cultural ethos and structure.
3. Factoring in individual differences
EasyClick would have to inspire workers to take control of their self-development process in order to
promote and fully leverage any high-potential employee and fully harness their abilities. Employees'
personality differences can be taken into consideration at this time in order to provide a
comprehensive growth plan for them. Employees who are poor communicators will be given priority,
and others who are poor presenters will be given more chances to change. As a result, at the end of
two years, any chosen employee will have a good understanding of the skills expected of a Product
Manager.
4. Choosing the development method
After the first three steps have been completed, the final step ensures that it is able to distinguish the
individual and recognise his skills that are compatible with EasyClick. Feedback processes, Training
programmes, Job responsibilities, and Development relationships can all be used to ensure that
leadership skills are established during his transition from employee to Product Manager. Since each
approach focuses on various facets of leadership, such as experience, ability growth, and
organisational skills, each method focuses on a different part of what it takes to lead a team and
become a successful leader. The growth process is set up in such a manner that the employee gets a
wide variety of perspectives and plenty of chances to reflect in order to make better choices and
recognise high-potential employees for the next cycle.
Structure of the Development Program
The program will be divided into 5 distinct phases spanning over 2 years.
The following phases will facilitate the transition of an employee to a Product Manager:
1. Discovery (2 months)
2. Cross-divisional Domain specific training (8 months)
3. Guided client interaction training (4 months)
4. Simulations and situational training (6 months)
5. Supervision (4 months)
Program Development Methods
The development methods that the program will entail are training programmes, rotation-based job
assignments, building relationships, and detailed feedback.
Training Programmes
Training programs are an important component of any development strategy. We have activities
where employees can get hands-on experience with the problems.
In our scheme, employees are assigned to cross-functional teams that operate in a division for a few
months before being shuffled and a new team assigned to a new division. Each employee rotates
across all departments at least once during the process.
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Each division's duration is determined by the mission it is responsible for as well as the existing skill of
the employee. As a part of this process, the employee gains a comprehensive understanding of the
business and will be able to coordinate and work with all the functional teams. Moreover, since a huge
part of a product manager’s role involves client interactions, based in their pre-existing skills, training
in this will be aided via the use of online learning resources, and later, real-world interactions in order
to ensure that proper protocols are followed.
Job Assignments
In this process, employees are given job assignments comprising of different verticals to explore their
talents, and also get acquainted with the minor details of all the functional teams. In these
assignments they develop new competence and brainstorm to develop their own strategy for the
issue faced. These competencies will lie on both the technical side as well as focus on soft skills.
Here, we have three different kind of job assignments namely leadership-based assignments and
creative based assignment.
1. Cross divisional assignment: Since a product manager is required to coordinate and work with all the functional teams like namely,
finance, marketing and sales, and operations. The job assignments will include working with these
groups regularly to understand their roles and the challenges faced by them. This will provide the
employee a perspective as to how the other teams manage a situation in their respective domains,
and what goes into each process of the various teams. These job assignments will follow a training for
each group, and it will be followed by the 4th phase of the program, which includes simulation and
situational training, where the individual will be required to test and polish their newly acquired skill
2. Leadership-based assignment: They will be delegated as a supervisor for a few workers with fewer than six months of experience in
the fifth period of their two-year leadership programme, and a series of assignments will be provided
to the team. The team's success will be evaluated in order to determine the employees' leadership
skills. They will require leadership qualities when promoted to change in charge, which will be checked
in this task, and the guidance offered will be helpful for them to incorporate in the future.
3. Innovation-based assignment: In the same fifth phase, the employees will be given a problem which would have different solution
Page 2
but each with their own set of consequences. The employees creative as well as critical skill will be
tested in this assignment. Every choice we make has its own set of consequences. So here the
employees will be given a chance to explore with new ideas to the problem but they need to also
solve the issues due to the consequences.
Building Relationships
In tough situations where employees have reached a dead end and need assistance, these formal
and informal relationships will ensure that they find a solution.
• Formal Relationship
To make sure the employees extract maximum value from seniors within the organization, during the
implementation phase post onboarding and discovery phase, they will be put through the Mentorship
Program – Right from the beginning, an individual mentor will be assigned to the HiPo. This mentor will
be someone from the upper management, who has had experience as a product manager, so that
he knows, and is able to guide in navigating the nitty-gritties of the job. Since the mentor will come
from a totally separate team, he or she will be able to provide impartial advice and feedback in a
given situation. Moreover, the mentor will ensure that just the right amount of burden is being put on
the employee. This mentor will guide the HiPo throughout the program and even after it if the HiPo
requests.
• Informal Relationship
“Buddy Program” will map a newly onboarded trainee to an exit level employee. This will encourage
them to form an informal bond and pose questions about which they were previously reluctant.
During the exploration process, exit-level staff will also support the employee in fitting in. The most
significant feature of this initiative will be to include feedback from prior encounters as well as big
obstacles they encountered in their early days.
Feedback
It is a procedure in which workers are given the positives and negatives of their work. Owing to racism,
it may be inefficient or counterproductive in general. As a consequence, a proper feedback system is
necessary. We need multiple inputs from different individuals, like colleagues and direct leads, to
prevent these prejudices. In certain situations, retailer or consumer input is often taken into account.
360-degree feedback is the name given to this kind of feedback. The information obtained through
this method should be carefully analysed to determine important variables and conveyed to the
required employee.
We will perform bi-annual 360° feedback for employees as part of our program, and the results will be
analysed by someone with experience in this area. The feedback must be inclusive, with both positive
and negative feedback delivered in a way where managers could appreciate the problem and come
up with a solution.
This feedback will be different from the one provided by the mentor as it will be provided about the
work in general, and not the day-to-day activities.
Retention of High Potentials
Employee departures cost a company time, money, and other resources. A lot of costs go into an
employee’s training and development, even more so in the case of HiPos, who, if retained, could be
extremely beneficial for the company. To that end, the primary motivators for HiPos are:
1. Quality of relationships at work – The three compulsory sets of people that product managers have
to deal with are – (a.) their reporting manager, which is the senior product manager, (b.) their
colleagues, including the cross functional teams the product managers work with, and (c.) the direct
reports, the Jr. Product managers. HiPos expect praise and recognition from these relations as a
reward for a job well done. Moreover, the also look for newer opportunities to grow and improve their
capabilities as well as networking. Exposure and engagement with upper level management plays a
key role in motivating the employees. Some of these relationships go beyond the formal setup, and
transform to social relationships, which further acts as value addition for the HiPo.
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2. Credible commitment to development – HiPos are always conscious of their growth opportunities
and accept constructive feedback, training programs with a very positive outlook. They look towards
not only support, but also active help from the organization and his or her relations in their pursuit of
development and growth. Training sessions which align with the HiPo’s personal growth aspirations as
well as the organisation’s expectations play a key role in retaining them. These should not only be
focussed on their current role, but also prove helpful in their future prospects.
3. Challenge in job experience – HiPos are hugely motivated by a challenging job which enriches them
in a holistic manner. Involvement of Product managers in decision making in cross-functional teams
enables them to utilize their skills, as well as, instils a sense of autonomy for their product which further
motivates them to continue working within the organization.
The Plan
In order to ensure the retention of HiPos, the following measures will be undertaken by EasyClick:
1. Continued Mentorship Program – One-on-one mentorship program that was introduced during the
development phase will be continued. This will provide the employee with a mechanism to seek
advice from an unbiased party in case of any complicated situation, both w.r.t the job, as well as office
politics. Furthermore, the mentor can groom the HiPo for their future prospects and continue giving
them feedback on their job as needed. This will also ensure that the HiPos feel cared for within the
organisation. The mentor will also gauge the stress levels of the HiPo and help manage the amount of
extra training sessions accordingly.
2. Performance-based recognition and rewards – Non-monetary and monetary rewards should be
provided to HiPos for exceptional performance; this will motivate them to put in the extra effort. Nonmonetary rewards like recognising the best product manager for a quarter and annually, and
competitive payed leaves structure will drive them for further. Such recognition at annual events will
also provide the HiPos the confidence boost to perform even better. Performance based cash
incentives like bonuses and variable pay will be one of the fore-front strategies. Another reward will be
in the form of a ESOPs or the Employee stock ownership plan, where the HiPo will be provided a certain
number of company stocks as a reward which may be liquified as per requirement by the individual.
These profit-sharing plans, coupled with direct-cash incentives will motivate the HiPo to continue
working with the organisation.
Matched Sources :
An Annotated Bibliography The Unintended Consequences of ...
, states, “Employee departures cost a company time, money, and other resources. Res
earch suggests that direct replacement costs can reach as high as 50 percent – 60 p
ercent of an employee’s annual salary, with total costs associated with turnover rangi
ng from 90 percent to 200 percent of annual salary.” 14
https://www.diversitybestpractices.com/sites/diversitybestpractices.com/files/import/embed
ded/anchors/files/_attachments_articles/rr_uni-2.pdf (https://www.diversitybestpractices.co
m/sites/diversitybestpractices.com/files/import/embedded/anchors/files/_attachments_arti
cles/rr_uni-2.pdf)
3%
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3. Challenging job assignments – HiPos are always looking towards future growth, and the biggest
avenue for this growth is the on-job experience. In order provide the product manager with new
challenges, he will be assigned jobs to different segments upon completion of a project. This will
ensure that he or she gains knowledge about various segments which help them with their future
prospects. It will further polish their soft-skills as well by making them collaborate with a large number
of people in the organisation. This will also help them with exposure to various top-level executives in
the organization and improve their relations and networking.
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