Commenting on the news, Orient Group Management CEO Andrei Safronyuk said: “We continue our policy of openness. The fundamentally new Orient Group remuneration system introduction is another step in our chosen development strategy. Our position is simple and clear: partners of leaders should be leaders too. In Uzbekistan nobody needs to prove Orient's leadership, that is why the choice of such a company as Korn Ferry for such an important project is quite logical.”
Grading is a time-tested methodology that Korn Ferry has been implementing for 70 years to improve organizational effectiveness around the world.
“The demand for fairness, including in labor and employee relations, is a global trend, and we cannot and will not ignore it. It is normal that people want to receive fair wages in accordance with their contribution to the company’s main objectives. Already more than 12 thousand companies have introduced grading on the basis of Korn Ferry methodology and we invited professionals to introduce reliable and widely accepted procedure in our holding company”, - says Venera Yerzina, director of HR department of Orient Group.
Introduction of the new system will take place in several stages. After the initial stage for the top management, the grading will be extended to all positions in the group of companies. The entire process of rolling out the grading-based remuneration system is expected to be completed within two years.
“Uzbekistan is a very promising frontier market, because here and now companies have a high demand for qualitative changes. Local business is ready to dynamically introduce the best international practices in the sphere of organizational structure, corporate culture and employee motivation schemes. This approach makes the country stand out at the regional level, and I believe it guarantees advanced development of the Uzbek economy for years to come” - says Yulia Ten, Korn Ferry Director for Development in Uzbekistan and Head of Central Eurasia Sales & Marketing Practice.
“Orient Group's ambitions to develop management expertise are representative of the world's leading corporations. We will help the company introduce best practices in job evaluation, remuneration and compensation and corporate culture transformation. The upcoming changes will definitely have an impact on Orient's business performance,” says Svetlana Chekmazova, partner at Korn Ferry, Head of Corporate Transformation practice in Central Eurasia.
About:
Orient Group is one of the largest private investors in Uzbekistan. The company has been operating in the market since 1998. It includes businesses successfully growing in 7 sectors of the country - real estate development, logistics, textile industry, retail, etc. In 2020, Orient Group's revenue amounted to 1% of the country's GDP. The company employs more than 30,000 professionals.
Korn Ferry is an international organizational consulting company. Founded in 1969, it has 101 offices in 53 countries and is headquartered in Los Angeles. Korn Ferry is engaged in four areas of activity: consulting, online subscription services for corporate clients, executive search, and RPO (business process outsourcing to support the employee lifecycle in the company). Provides services to about 94% of Fortune 100 companies and 86% of FTSE 100 companies.