PT Jaminan Kredit Indonesia (Jamkrindo) held its 2021 National Coordination Meeting (Rakornas), bringing together key executives from across Indonesia. Amid the ongoing COVID-19 pandemic, the event was conducted virtually on February 1-2, 2021, under the theme "Tuning and Consolidating Business to Maintain Sustainable Performance."
With no clear end to the pandemic in sight, businesses must adapt and evolve to sustain economic activity. As one of Indonesia’s leading state-owned enterprises in credit guarantees, Jamkrindo is implementing new strategies to navigate an uncertain 2021.
President Commissioner Sri Mulyanto emphasized that growth requires change, and transformation must extend beyond business operations to include corporate culture. “For state-owned enterprises, this cultural transformation is guided by the core values of AKHLAK (Amanah, Kompeten, Harmonis, Loyal, Adaptif, Kolaboratif), which must be ingrained in the company’s DNA,” he stated.
Citing Harvard Business School professor John Kotter, Sri Mulyanto noted that 70% of business transformations fail because they prioritize strategy over culture—focusing on ‘Head without Heart.’ Successful change requires a holistic approach that integrates vision, skills, incentives, resources, and action plans. He identified several factors that often hinder corporate performance, including: Comfort Zone Syndrome – Resistance to change, Routine-Based Work Culture – Lack of skill-driven productivity, Cultural Entropy – Energy wasted on non-productive activities, Lack of Leadership Role Models – Ineffective mentorship from senior executives, Inefficient Reward & Punishment Systems.
To overcome these obstacles, Jamkrindo has prepared a "Room of Improvement" strategy, focusing on: Optimizing the Gearing Ratio – Strengthening capital with a Rp 3 trillion injection and increasing KUR loan distribution to Rp 253 trillion, Human Resource Development & Talent Management – Increasing millennial workforce participation to 80% and enhancing talent management programs, Strengthening Risk Management & Claims Control – Implementing a Risk Management Information System (SIMR) for structured risk mitigation, Leveraging Digital Transformation – Enhancing business process automation, IT governance (IT maturity level), and workforce digital capabilities, Boosting Subsidiary Performance – Jamkrindo Syariah’s contribution to net guarantee fees is currently at 6.4%, with total assets at 7.8%—a performance gap that must be addressed.
Sri Mulyanto introduced the "AS Strategy" for success, emphasizing: Antusi-AS – Enthusiastic work ethic, Cerd-AS – Smart work approach, Kualit-AS – Commitment to quality, Ikhl-AS – Sincere dedication, Tunt-AS – Goal-oriented execution He also stressed the need for strong commitment and collective effort from all levels of management to achieve Jamkrindo’s 2021 Business and Budget Plan (RKAP) targets.
To ensure the realization of RKAP targets, Jamkrindo will implement: Cascading & Deployment of Targets across all business units and subsidiaries, Comprehensive Monthly Performance Monitoring & Evaluation, Contingency Plans to adapt to business and market fluctuations, Optimization of Jamkrindo’s Role in the PEN Program to support Indonesia’s economic recovery.
With strategic foresight, business transformation, and cultural reinforcement, Jamkrindo is committed to sustaining its role as Indonesia’s premier credit guarantee institution while supporting MSME growth and national economic stability.