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In today’s competitive world, the corporate leaders strive hard to manage its resources strategically. Business leaders often focus on Money¸ Material, Technology and Process resources that are common to all business. What they fail to understand is that the most important resource and yet poorly managed is the Human Resource!
This millennium is all about people. Fast growing economies like China, India or Brazil have one thing in common: many people.
People often ask me how I achieve 200% growth rate. I think the question should be how I maintain such growth rates. Of course anyone can attain 200% growth rate at a given point, and it take seconds for the business model to be copied by rivals.
But the question is of sustainability!
Anyone can copy my business model, my technology, and my process. What they cannot copy is my human resource.
Since the prehistoric times business leaders focused on the money resources. Who had the money could do the business. Later the focus changed to Material resources during the commodity boom era. With the industrial revolution, focus was on Technology Resource. Twenty years ago we saw strong shift in focus on Process.
In today’s world you cannot have competitive edge with these resources alone. Having large funds or best software or best technology does no longer gives you edge over your competitor. It’s the Human Resource, your strategic resource, that is unique to you which cannot be easily imitated by your competitors. People are the greatest asset a corporation can have.
With that comes the challenge of managing people. It is the most complex resource one can imagine. Humans are very much unpredictable.
It is not that easy to motivate all employees using same technique or methodology. It is not the money that can motive all people all time. You will be surprised to know that these days most employees don’t leave their job or company, but they leave their boss. So the key is good boss. It is the boss who then decides what can motive his people. There is no single formula.
An employee looks at total satisfaction that he derives from his boss. If you treat your employee to be an asset of the firm and give him good working environment, then the output generated is really phenomenal. They work additionally longer and on weekends passionately.
For an employee, it is important to know the cause of his working. Working with cause and an aim is really meaningful than working just for pay. A boss really needs to add meaning in the life of the employee. Another key factor is what an employee gets in return for the services he performs. What is most important to employee is self building. Employees love to love to work with intelligent boss than boss he/she considers less knowledgeable.
When it comes to motivating we have to use both the negative and positive tactics. A boss is like a matured father, who at times of need needs to get hard and at times of need needs to offers softness. At times we have to reward and at times we need penalize. We have to follow a mixed strategy to get the best of our employees….
For a low skilled worker, nothing motivates more than the money. I mean look at the work they are doing. It is really hard and tough. These people come from financially poor background. For them support of large dependant family is the reason of their work. So a company should really meet their needs seriously.
In our firm, we really pay them far better than our rivals to get best of them ….
I founded this business with a vision: to grow really large and I know the key to this is my people. I continuously build the culture that can nurture this vision. For me, I really work hard to improve building my human capital.
I strongly consider that my people add to my success. If you look at Microsoft, it has the most number of millionaires employees in the world. So it is all about sharing the fruits of success….I mean it is a win-win situation.
For this, I really focus on building strong corporate culture. I believe corporate culture is an asset that gets cashed over a period of 5 years. For me this is really important. We recruit people that culturally fit our organization. Things become really easy then.
If my firm focuses on aggressiveness and customer satisfaction, then we really need people of that kind. I cannot have people for this that are not customer friendly by nature Of course I can train them but it would be too artificial and would not last long.