Winning Secrets: How Singlife built a unified workforce to drive engagement and growth post M&A

Following a merger and rebranding, Singlife developed a unified people strategy that prioritises employee engagement, competitive rewards, and career development. Piyush Wankhede, Senior Vice President, Reward and Performance, tells us the story.

In the wake of a recent merger and rebranding, Singlife was faced the dual challenge of integrating diverse teams while navigating change fatigue among employees. Believing that exceptional customer experiences stem from an engaged workforce, the organisation crafted a people strategy focused on alignment, trust, and equitable rewards.

Through a holistic approach to employee engagement and development, the organisation has not only overcome these challenges, but also earned a gold win for 'Excellence in Total Rewards Strategy' at the HR Excellence Awards 2024, Singapore.

Here's how they did it, as told by Piyush Wankhede, Senior Vice President, Reward and Performance.

Q What was the motivation that sparked your passion & business case for pursuing your outstanding people strategy? 

At Singlife, we believe that a good customer experience can only be achieved through an engaged workforce. Having undergone a merger and acquisition (M&A) recently, Singlife has had to create a unified people strategy from scratch. This galvanised us to develop a people strategy to help us attract and retain top talent, foster employee engagement, and ultimately give Singlife a competitive edge.

Moreover, we believe our people strategy should be more than a mere check-in-a-box and should focus on how we can add value to both the organisation and its employees. It is imperative that we look for win-win – for both Singlife and Singlifers.

Q Looking back, can you share a challenge that you overcame in your journey of HR excellence? How did you triumph?  

Ancient Greek philosopher Heraclitus said, "Change is the only constant". While most of us understand the statement, there are times where we face changes in a short span of time. This is particularly true for us at Singlife as we underwent an M&A (2023-2024) and a rebranding effort (2022-2023).

One significant challenge we had to overcome was the change fatigue that had set in among Singlifers. We were also faced with the challenge to align Singlifers’ compensation expectations with their skill levels as we made changes to our corporate structure and compensation benchmarking philosophy. This helped us create a competitive and equitable pay structure. We further softened the impact of change with the provision of clear pathways for career advancement and fostered a learning environment.

Through these changes, it was crucial that we build a relationship of trust with Singlifers.

Q Beyond the recognition, what impact do you hope your feature in the HR Excellence Awards would have on the HR community and manpower landscape?

When a rewards strategy is done well, it creates significant value for the success and effectiveness of organisations – it demonstrates that we’re not just about salary benchmarking and comparative ratios. 😉

Q Could you share some advice you would give to others aspiring to follow in your footsteps? 

Get a breadth of experience before you decide to specialise in any specific role. Understand your interests and aspirations – there is no better way to know this than getting your hands dirty.

After which, get deliberate and plan out the skills and experience you need to acquire. In my case, I love analytical thinking, solutioning, numbers and excel so my present role allows me to effectively tap on my strengths.

Q Let's talk inspiration! Who has been a driving force behind your success?

The driving force behind our success has been our dedicated employees and loyal customers. Our employees’ resilience, adaptability, and commitment to excellence have been inspiring. Their willingness to embrace change, support one another, and strive for continuous improvement has been instrumental in our journey towards HR excellence.

Equally, our customers’ trust and feedback have motivated us to continuously enhance our services and strategies. Together, our employees and customers have built a strong foundation that propels us forward.

Read more interviews on why organisations have won trophies for their HR practices - head over to our Winning Secrets section! 

Photo: Provided