00:00:06:08 - 00:00:39:19
Becks Grainger, Baringa
At Baringa, we understand the complex market environment that is facing our customers and want to ensure that we're helping drive value across their company by focusing on their people, their customers, their clients, the planet, and also ultimately their profit.
Today, I'm very lucky to be joined by Ilya Selivanov who is the SVP of Productivity and Transformation at Reckitt. Ilya, if we look at Reckitt at the moment, how does it ensure that it is driving value across the company to kind of compete with these market dynamics?
00:00:39:19 - 00:01:13:00
Ilya Selivanov, Reckitt
We're looking at consumer journey and we're looking at the long term sustainable value that can be delivered through our products to the consumers while taking care of planet and people. So the triple P, that you referenced to, the people, planet and profit, ultimately what we need to deliver to our stakeholders is what’s driving us.
But still primarily is to be best in what we do and delivering great products to meet consumer needs.
00:01:13:06 - 00:01:31:16
Becks Grainger, Baringa
So how we're defining generating value is broader than just productivity. It's across the entire business. And that looks at people, it could look at sustainability. From a Reckitt point of view, how have you made sure that those things are underpinning the work that you're doing within productivity?
00:01:32:01 - 00:03:06:15
Ilya Selivanov, Reckitt
So we started the journey purely looking into the efficiency agenda at Reckitt, and then pretty fast we realized that it's it's not a standalone agenda and it's an agenda that fully connects to the growth of the company and fully connects to what we do with our suppliers, what we do with the resources of the planet.
And we brought sustainability angle, we created a fully integrated agenda between gross sustainability and efficiency. And that helped a lot.
That helped a lot. Meaning that that unlocked a lot of cross-functional work between supply procurement, R&D, Marketing, category teams. So that’s basically really helping to really cover all aspects of the business. And sustainability, I know that many FMCGs been talking about that for decades, but it's not something that you have to do on top of your daily job. It has to be a license to operate. It has to be inside your operating model. It has to be the way you are delivering your products and the way you’re reaching your consumers. And I think keeping that in mind as part of the normal business cycle is what we need to do.
Sustainability is a license for us to operate. And it's also, you know, a long term value creation for the company.
00:03:06:15 - 00:03:14:00
Becks Grainger, Baringa
What advice would you give other people in terms of how to set themselves up in a in a sustainable way to deliver that value?
00:03:14:02 - 00:05:02:02
Ilya Selivanov, Reckitt
So I would say be bold in your ambition. So really stretch yourself to go the extra mile.
Secondly, the trick is to overinvest in the beginning with the right capabilities, project teams, transformation activities, because, you know, in the long run you're going to deliver... You're going to deliver the value. So try to overinvest in the year one and gradually adjust your pace of change throughout or for the years.
Third aspect, think about data systems, digital transformation. Get the right data. Understand consumer needs, understand master data for our products, understand our spend base. That would definitely help to reduce leakage and slippage and increase the speed of the transformation.
And then the last element is that people engagement is an extremely powerful tool. So we, at the year two of the journey we announced an agenda that basically connects our growth, sustainability and efficiency together. We call it SEG Agenda, sustainability, efficiency and growth. And we were extremely, positively surprised by the wave of and positive energy coming from our people, coming from our customers, coming from our suppliers, business partners that are willing to launch new projects that basically connects all of the growth, efficiency and sustainability agenda.
Sustainability angle and the growth angle help us to bring a new wave of ideas and a strong partnership, both with our customers, consumers and with our people.
00:05:02:02 - 00:05:08:11
Becks Grainger, Baringa
Ilya, I want to thank you for taking the time today. It's been very inspirational listening to you about Reckitt and the journey that you've been on.
00:05:08:11 - 00:05:10:05
Ilya Selivanov, Reckitt
Thank you, Becks. And thank you for being a partner.
