PRASHANT SRIVASTAVA
The founder of W.E.-Matter
where W stands for wellbeing and E for engagement.
In 2018, as the Group CHRO of a conglomerate, Prashant Srivastava took responsibility for job losses in a subsidiary forced to shut down due to macroeconomic factors. Collaborating with the Chairman and Vice Chairman, efforts were made to transition affected employees to other group entities. Support from CHROs across the HR community also facilitated placements. Reflecting on this experience and overall reduced job availability in India during a dinner conversation, a friend questioned, “What are you doing to pay back to society?” This sparked the inception of WE-Matter, driven by the desire to give back to society.
It was not long after that Prashant laid the foundation of W.E-Matter, where W stands for wellbeing and E for engagement.
A new-age HR Tech firm that aims to transform businesses and improve lives by harnessing the potential of Employee Engagement and well-being, W.E.-Matter was set up with the purpose of collaborating with 1000 companies in India to:
Help clients achieve a 30% increase in revenue
Empower 5 million individuals to lead improved lives
Contribute to a 1.5% growth in GDP
The vision of W.E.-Matter is to be the market leader in India by 2026 and to be a leading company in the world by 2030. W.E.-Matter’s uniqueness lies in its multigenerational model suitable to Boomers, Gen X, Gen Y as well as the incoming Gen Z.
Close to the launch of W.E.-Matter, the world was hit by the pandemic. W.E.-Matter initially had humble beginnings, with only 5 people on board, working tirelessly towards the purpose. It took one year for Prashant and the team to create MVP and work towards the other aspects like the model and research behind it. However, a small passionate team of Gen Zeers, driven by the values of Bias for Action, Listen Actively, Create Trust, Passion, and Fun, ensured that the company thrived in the pandemic.
Prashant goes against the common belief that Gen Z is lazy, demanding, and difficult to work with. Through his experience and research, Prashant has concluded that Gen Z is hardworking, and employers should start thinking like them.
Having seen their parents in professions go through job losses and recession, Gen Z has become straightforward in their approach to jobs and workplaces. They might appear transactional, Prashant believes, but if you communicate the plan for their growth and career path, then they will work above and beyond and emerge as great employees.
He also feels that it is fair for every generation to ask for what rightly belongs to them. Wanting it defined and fixed is the beauty of this generation, and reciprocating this straightforwardness is the right way to engage Gen Z.
His opinion surrounding Gen Z paved the way for W.E.-Matter’s multigenerational model, catering to workforces from various generations.
It is due to the continuous efforts of Prashant and his team, that W.E.-Matter was awarded Fortune Super 30 Company in 2021.
Behind W.E.-Matter’s success lies a long story of how Prashant became a part of employee engagement. Initially a strategy consultant in firms like TATA Strategic Management Group, where he drove 7-fold growth in 6 years. He later moved to Gallup India, entering the arena of Employee engagement, where he leveraged engagement to enable strategy, growing Gallup’s business six-fold in 6 years.
All these experiences shaped him into a professional who knew all about employee engagement, human psychology, and the impact of behavioral science on business.
Since eighth grade, Prashant harbored a clear ambition to become a mechanical engineer involved in projects and the establishment of large manufacturing units. After pursuing mathematics in school, he attended NIT Raipur to study mechanical engineering. However, he later discovered that the field did not align with his initial expectations, lacking the creative aspect he desired in developing something new.
After completing engineering, he took to managing supply chain and distribution at Hindustan Petroleum Corporation Limited. His manager, peers, and friends told him that he was meant for doing something better.
Born into a family of academicians, both of Prashant’s parents were professors of political science. Since childhood, he was immersed in the ideologies of political thinkers and gained insights into human behavior, which molded his values and instilled a sense of purpose and ambition to make a positive impact on humanity and the economy.
Prashant is married to Sarita, who holds an M.Sc. in physics but has transitioned into a yoga mentorship role, focusing on physical and mental well-being. They have two sons: the older one, holds an MBA from Wharton and currently works with a consulting firm in the US, and the younger one, works as a software developer at Amazon after studying Computer Science at the University of Washington Seattle. Their family discussions about economics, politics, and other significant subjects have enabled him to discern differences between India and the US in terms of markets, consumer base, technology utilization, and more.