Laxmikanth Venkatraman (MD, Broadridge Financial Solutions India Pvt. Ltd.) tells Schweta Chaturvedi that leaders should attract the right talent and allow them to be themselves by following the right approach

Q. What makes an ordinary company a ‘great organisation’?

A. It is the people and always the people; this is what I have always believed in and have experienced too. It is the ability to attract, retain and nurture people that makes an organisation great. People make all the difference inside or outside a workplace and that is why they need to feel connected with the organisation. Our job as leaders is primarily to attract the right talent and allow them to be themselves which can be done through the following approach:

Experience, Explore and Grow

People should feel empowered. We, as leaders, have to be the Thirthankara (according to Jainism, Thirthankara is a human being who in addition to achieving liberation and enlightenment, became a role model and leader for those seeking spiritual guidance) who with knowledge and guidance will enable the connection and bridge the gap.

Q. What are your thoughts on the talent base in India? What is the need of the hour to generate more employment opportunities for them?

A. I think, fundamentally, our talent base is good both from the perspective of technical skills as well as from that of soft skills and this is increasingly being recognised globally.

There are some challenges that we have from our education system and from companies which do not equip people adequately to be job ready. But the biggest hurdle in my view is embedded in our thinking. Our system constrains us to think only in a certain manner. Our upbringing and milieu have instilled fear in our minds which has conditioned our living. We need to learn to unlock ‘that’ fear. I believe in F=S=O, that is, fear = scarcity = opportunity (on the lines of counterfactuals). Click here to read more...

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Emerging trends

The short-time working programme in Germany, known as ‘Kurzarbeit’, is supposed to ensure that companies across all sectors keep workers employed in times of crisis or low demand by reducing working hours and consequently wage costs. The Federal Employment Agency provides funding for short-time working based on business cycle and economic reasons, providing that certain conditions are met. The agency tops up reduced wages by a certain percentage and subsidises social security contributions on short-time wages by 50 per cent (up to 100 per cent during qualification programmes and after seven months). The programme existed before the crisis, but was extended because of it. The incentives to encourage employers to retain workers by reducing working hours instead of firing them were originally due to expire in 2010-end. According to the German government, the scheme has proved itself during the economic crisis by keeping unemployment lower than in many of the country’s trading partners.

Organising union activities in transnational firms
Between 2007 and 2008, Romania’s Free Trade Union Federation of Commerce (FSLC) carried out activities in companies operating in Romania, with the support of other trade organisations. FSLC concentrated on organising employees in transnational companies. The main companies targeted were Metro Cash & Carry, Carrefour and Billa-Rewe. As a result, FSLC and the newly established Metro union ‘Solidaritatea’ signed a collective agreement in April 2008 for Metro Cash and Carry.

The agreement improved working conditions and wages for the employees at Metro. An information and consultation forum for social dialogue at Metro Romania was also established, and the Romanian employees won a seat on Metro’s European works council. The Metro collective agreement gave a 9.5 per cent increase in wages, a loyalty bonus after five years of employment, and a 10 per cent bonus for work on Saturdays and Sundays. It also provides three paid days each month for union representatives, and stipulates that employers have an obligation to focus on improving working conditions. Click here to read more...

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Universities have two roles – creating and disseminating knowledge.

Third, focus on improving faculty quality. Universities have two roles – creating and disseminating knowledge. This translates into two key responsibilities for faculty, research and teaching. The importance of faculty undertaking these dual roles is demonstrated by the fact that there are almost no top teaching business schools globally that do not also excel in research. Indeed, excellence in research is an important requirement for eminence in teaching and education. Unfortunately, most Indian business schools do not recognise research, and do not view it as related to teaching and education. As a result, with few exceptions, faculties undertake little research and many institutions rely heavily on practitioners who lack fundamental understanding of theoretical foundations.

Not all faculties or institutions need to undertake global-standard research. Yet the current state in India, where perhaps only one business school does so, suggests a major underlying problem. The solution is a challenging one – introduce research-oriented PhD programmes, hire better quality faculty, offer adequate compensation and align incentives to include research excellence. A concerted effort to draw on Indian faculty abroad to help develop doctoral programmes and faculty should be an immediate priority.

Fourth, allow foreign institutions to establish campuses in India, as that will increase options for students, introduce beneficial competition, raise standards and increase investments in education. While there must be some quality standards, a broad range of institutions should be allowed in. The rationale for doing so is similar to that of encouraging foreign direct investment and arguments against doing so, equally mistaken. Click here to read more...

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Professionals make for better teachers

Q. Please give us an overview of the education system in the United Kingdom. Also, how different is it from that in India?

A. The education system in the United Kingdom has experienced the same set of challenges that the Indian system has at some point or the other. In terms of quality and availability of faculty, we have been through a fair share of challenges. Universities in the United Kingdom have depended on faculty with no real-world work experience, even for teaching accountancy courses. On the contrary, the independent training institutes have relied heavily on qualified business professionals to teach professional courses. What we have seen, therefore, is a trend where the independent institutes have almost taken over the entire demand and supply of accounting professionals. Students have moved away from university degrees in accounting to professional programmes supported by training institutions.

Q. What kind of training programmes are conducted for teachers in the United Kingdom?

A Training or qualification is as critical as its application and relevance. Quality teachers have experience of working in the field to back their academic knowledge. The best teacher training programme would expose teachers teaching accountancy or business-related subjects to the real world of business and finance.

Q. What is more important – education or experience, especially at a time when universities and companies are shaking hands?

A. When it comes to teachers, relevant work experience is as important as the academic qualification. Sound exposure to industry ensures that their teaching is backed by examples and case studies from the real world. That means students are more ‘business ready’ when they come out of the institute and the companies do not have to spend too much time in training them. Click here to read more..

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During a crisis situation, it is not enough to have just one backup plan. In the current economic scenario, it is necessary to plan for the worse.

When a company – regardless of its industry – is going through a rough patch and the CEO is an experienced veteran, then according to Chen and Hambrick, the CEO would not be able to think the way out. “He is too trapped by the baggage of the accumulated wisdom of that industry, so the longer the tenure of the industry incumbent, the more a company will benefit from getting rid of him,” says Hambrick.

The same would not be applied when the CEO is an industry-outsider; in that case figuring out a new pathway is easy and seems feasible.

The in-house talent cannot be ruled out in this case but the ‘any-fresh-face-will-do’ attitude will eventually prove worthless unless you are lucky enough. Looking for an in-house alternative can also help avoid the internal unrest that could result from disgruntled employees over missing the opportunity.

One of the key factors in deciding the turnaround is the board’s involvement. The matters related to the CEO shuffling are amongst the most prioritised jobs for any board. Read more...

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The focus of HR should be to attract the talents who are willing to take risk and script success stories in the form of intrinsic rewards.

HR professionals must acquaint, update and equip themselves with the financial and operational aspects of the turnaround plan and a thorough understanding of market forces in operation to address the pressing realities of the function and interdepartmental needs. Turnarounds are uncertain, demanding, risky in nature and tricky in approach and, the key issues are leadership, communication, and change management. These are the issues that require a competent HR team to handle and set directions for organisations. The role of HR leader is critical and crucial as he or she not only steers his or her team to brace and facilitate change, but also guides the top management including the CEO in overcoming HR challenges in the form of layoffs, legal tangles, reorganisation and absorbing the cultural shocks. Lastly, the HR team needs to devise an exit strategy from post-turnaround phase as organisations cannot continue to work under a war-like scenario.

Turnaround phase in organisational life is not uncommon. The turnaround HR team needs to understand the realities and act upon the best ideas and innovations. The role of HR leader during a turnaround can be aptly summarised as “Obstacles don’t have to stop you. If you run into a wall, don’t turn around and give up. Figure out how to climb it, go through it, or work around it”. Read more...

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Managing the Concern Together

Q. How can HR increase its visibility in the organisation?
A. HR can increase its visibility by having a deep understanding of the business it serves. HR cannot just focus on HR topics (compensation, benefits, staffing, employee relations, etc.) but also needs to understand how the business operates to have an impact on profit or service. This is what CEOs want from HR, in addition to managing its responsibilities and keeping the organisation on track to be competitive.

Q. What are the roadblocks that CEO-HR relationship faces while working on a common ground?
A. If HR fully understands the business it supports, the roadblocks should be few and far between. A strong relationship between the CEO and HR can be powerful, as HR supports the mission and vision – that the CEO has for the business – by bringing in and retaining the right talent. If there are conflicts around legal issues or ethical violations, HR must do what it can to protect the organisation but ultimately, it is the CEO’s responsibility to manage the operations.

Q. Are there any sector-specific expectations from HR? Please explain through an example.
A. A great example of industry specific expectations from HR comes from Zappos — a retail company that does not see itself as selling shoes. It has positioned itself as a customer service organisation and prides itself on having every employee interviewed based on cultural fit. Read more...

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NITIN KULKARNI CHIEF OPERATING OFFICER, PERSISTENT SYSTEMS

With a prolific career spanning over 18 years, Mr. Nitin Kulkarni has worked with companies such as Infosys, Siemens Information Systems Ltd, and NELCO ( a TATA company). Knowledge of formulation and implementation of operational strategies in the areas of IT products and services is his forte. At Persistent Systems, he is responsible for running the entire delivery and HR operations for the company.

Q. What is the leadership’s take on HR as a partner?
A. The HR essentially needs to be involved very strongly in the business strategy. A clear understanding of the business strategy will ensure that HR gets the right talent on board. Strong focus should be on mentoring and training, having new programmes besides ensuring a healthy environment in the company to keep the employees motivated and retain them.

At Persistent Systems, the HR head is actively involved in business planning activity, budgeting activities, and is also a part of all business forums and the operation forums. Therefore, he is aware of the grass-roots level and can respond to the business requirements.

Q. Do you think HR needs to make itself more visible to the top management?
A. When I look back at the past three or four years, the role of HR has become more strategic. In most IT companies the HR Head is a part of the executive council. So, I do not think visibility is a big problem for HR. As far as being a part of strategic business is concerned, it is more about the CEO involvement. Today, HR has gained sufficient visibility to be part of the top management and is involved in business decisions as a strategic partner.

Q. Talking specifically of the IT sector, what is the CEOs’ common perception of HR?
A. We see HR as our business partner, and essentially, a very strong enabling function for all our business strategies. HR in the organisation really needs to work on talent acquisition with utmost efficiency and foster their growth and create the employer brand.

As we talk more and more about beings partners in the company’s success, CEOs also need to focus on employee engagement and work closely with the HR. They should adopt the best practices that HR suggests and help it work in an organised manner. I believe, the CEO-HR relationship should be a very strong bond. Click here to read full interview...

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Zipdial

Continued..But given that there are various other telecom or internet based information providers or engagement platforms - the Indiatimes 58888service being one of the most prominent ones - what makes Zipdial unique and saleable to clients? Clarifies Valerie, “For us being toll free and being a dialing service sets us apart and makes us frictionless and disruptive! Otherwise, consumers in India generally end up paying anywhere between INR 3 to INR 10 as premium SMS charges for seeking information. Also, SMSing is much lesser of a priority than simple dialing, in India.”

However, another important differentiator according to her is that, as a service they are more about creating a pull for the customer rather than pushing information into them. “You only get information only when you ask for it. There is no breach of privacy or pesky SMSes. This is a boon keeping in mind the recent TRAI regulations that prohibit SMS pushing,” she explains.
>br> The start-up is Bengaluru based, with a small team of around 14 people and offices in cities like Delhi and Mumbai. Ensuring global delivery to clients, Zipdial relies on cloud computing, while the IVRs are local to each region. Though the company and the concept is unique to India, they have done campaigns in the Carribean and very soon plan to get into Southeast Asia.
>br> And when it comes to hunting for talent, Valerie feels that anybody can learn technology, but what they look for is that, whether the person has belief in the business and finds any value in it.
>br> Having to hop across various cities in the subcontinent quite frequently for work, Valerie is quick to point out that her work is her life! She says, “The first thing I do in the morning is check my mail and that’s the last thing I do at night, too.” However, a gush of excitement overrides her as she shares her marriage plans in June this year and that the newly-weds plan to settle down in Bengaluru itself, as we reach the end of the conversation. Click here to read more...

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Prof. Shlomo Ben-Hur (Professor of Leadership, OB and Corporate Learning, IMD) advises how to Create an Environment where Employees Speaking out can lead to better decisions

This assessment is not a reflection on individual ability or motivation, but is because of natural group dynamics. Put your best people in a cohesive group and chances are that sooner orlater, group dynamics will get the better of them.

These are not faults that arise when someone does something wrong, but are instead natural occurrences that require extra steps to avoid.

Traditional learning mechanisms are insufficient in addressing the pervasive and deep-rooted challenges of good team decisions.

This is because many of the causes of the problem are default human behaviours – what most people are accustomed to do in a given situation.

Merely establishing processes is unlikely to deliver improvement. To help people do something other than what comes naturally to them requires more than just imparting awareness of how they should act and then leaving them to it.

It demands hands-on help and repeated practice and feedback: direct and individualised interventions that enable the development of new skills. It often requires an expert coach. Click here to read more....

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While the West is both excited and paranoid about India’s potential, the average Indian is still not empowered as the polity continues to wither India

Very few sitting in India would not hold countries like France in awe. And even fewer sitting in this part of the world would believe if one is to say that an average Frenchman or a British is today as much paranoid about the increasing clout of the Indian economy and Indian Inc as outsourcing to India is becoming a key issue in the US presidential elections. Out on a casual walk on the streets of Paris, chances are high that an average Indian would first of all be asked if he is a Pakistani or a Bangladeshi. Even before the shock and the sheer disgust of being equalled with a Pakistani or a Bangladeshi overwhelms one, the realisation dawns that however much India might go ahead in the race, racially the Indians, Pakistanis and Bangladeshis would still be the same for an average European. So when one visits those places, quite often one has to take the pain of explaining that ‘we are Indians and not Pakistanis.’ Prompt would come the reply, ‘What are you doing here then? There’s so much happening in your own country!!’ If your are on an educational trip, the sarcastic smile would be complimented with a shocking reply, ‘Thank God you are not here for a job’ or ‘What is there to learn from France or Europe? Don’t you see how they are busy splitting it all up in the name of unity? Don’t you see the way they are encouraging the formation of smaller countries like Kosovo? All the jobs are in any case shifting to your country and your neighbour? And now what is that is left to learn?’ Such replies are common and not unjustified either. But it also proves the sheer irony and vindicates the old adage which says that the grass is always greener on the other side of the river....Continue

Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Why India has no answer to the Pakistan issue?

But with that dream going sour, like the Kashmir dream, a desperate Pakistan has let loose all its fangs in all corners of India. Now that it finds it difficult to continue with the mayhem in Kashmir, given the near huge deployment of CRPF, BSF and army, it is paying back the defeat of 1971 by making Bangladesh its new pawn. In the recent blasts in Malegaon and in Mecca Masjid in Hyderabad, there has been clear evidence of the involvement of the Bangladesh based radical Islamic group HUJI. In the same league, there is enough evidence to believe that Naxalites and ULFA, who otherwise are diagrammatically opposite the Islamic ISI in terms of ideology, are getting much monetary and technical support from across the border.

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Source: IIPM Editorial, 2006

An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative

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Godrej? Why?

It’s like promising to marry your girlfriend and then marrying someone else. Hershey, the world’s leading chocolate producer, after a succinct romance with Amul, tied the knot with Godrej Beverages & Foods Ltd. (GBFL); leaving Amul stranded. Hershey will now buy 51% stake in GBFL for around $55 million.

Amul’s loss is indeed great, since cutting- edge advantages like superior technology access, global recognition & access to Hershey’s worldwide distribution network will now go to GBFL. Richard H. Lenny, Chairman, President & CEO, Hershey, says, “India is an important growth market with tremendous longterm potential... Hershey & Godrej will create a powerful partnership...”

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Source : IIPM Editorial, 2006

An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative

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