Pradeep Singh’s movement from the Indian Administrative Service to an NGO & thereafter to a corporate, demands more than just professional skills. A willingness to take up challenges & immense self-confidence are prerequisites. All changes have been quite synergistic & he must have drawn from his experience for the new assignment at hand.
At CARE, an experience in handling large projects & the advantage of networking would have benefited him. However , he got an ideal opportunity in the form of the offer from IL&FS, to synergise public & private efforts in developing infrastructure in India.
India is on a high growth path & more & more companies are trying to attract people with relevent skills despite them not being from the industry concerned, This is true for all emerging & fast growing sectors like retail, infrastructure, hospitality airlines etc.
1.Create Awareness: Unless yours is a major company with a large area of influence, creating awareness is going to be necessary.
The idea is to develop a talent pool of prospective employees in advance of actually needing them. Advance preparation will allow you a better opportunity to select from good talent.
2. Provide Opportunity & Expectation of Growth: Researchers agree that the best way to hire & keep top talent is to create a company culture where the best employee wants to work, a culture in which people are treated with respect & consideration at all times.
3. Selection Criteria: Choosing the right candidate is an important decision. While some people may have the right history, they have the wrong atitude. Some may have the right atitude but score poorly on a compatibility test. When hiring an individual who is new to the company, two criterias are paramount, atitude & motivation.
They don’t want a relationship with you. Just help them make good choices.
Marketers see today’s consumers as web savvy, mobile -enabled data sifters who pounce on whichever brand or store offers the best deal. Brand loyalty, the thinking goes , is vanishing. In response, companies have revamped up their messaging, expecting that the more interaction & information they provide, the better the chances of holding on to these increasingly distracted & disloyal customers. But for many consumers, the rising volume of marketing messages isn’t empowering- its overwhelming. Rather than pulling customers into the fold, marketers are pushing them away with relentless & ill- concieved efforts to engage.
What consumers Really Want?
Businesses broadly misjudge what consumers want from them online. In particuar, marketers often believe that consumers interact with them on social media to join a community & feel connected to the brand. But consumers have little interest in having a relationship beyond the merely transactional. Their top reasons for connecting online, to get information & discounts, & to buy things
Consumers Actual Reasons
Why they interact with companies via social sites
- 61% discount
- 55% purchase
- 53% reviews & product rankings
- 53%General Information
- 52%Exclusive information
- 51%Learn about new products
- 49% submit opinion on current products /services
- 37% customer service
- 34% event participation
- 33% feel connected
- 30% submit ideas for new product/ services
- 22% Be part of a community
Businesses’ Perceived Reasons
Why consumers follow them via social sites
- Learn about new products 73%
- General Information 71%
- Submit opinion on current products/ services 69%
- Exclusive information 68%
- Reviews & product rankings 67%
- Feel connected 64%
- Customer Service 63%
- Submit ideas for new products / services 63%
- Be part of a community 61%
- Event participation 61%
- Purchase 60%
- Discount 60%
Some Important points throughout this article:
- Poor returns from equity business due to low valuations
- Existing investments & spotting new opportunities proving difficult
- Promoters unwilling to divest in volatile market
- Banks faced with bad loans turning cautious
- Regulatory arbitrage due to restrictions on banks to lend for real estate & capital market activities
- IPO & other sources of raising money dried up for companies
Just 10 years ago , western executives returning from trips to India & China would say : I think the one to watch is India, not China.
They couldn’t have been more wrong . China has routed India. The Primary reason is that Indian Leaders are not transforming their business culture to one driven by meritocracy, where people feel fulfilled.
My Recommendation, Indian leaders should change all their metrics. They should stop placing emphasis on GDP, interest rates & inaccurate unemployment data. They should move to new metrics of behaviourial economics – to states of mind versus simple transaction data. These metrics are:
- percentage of good jobs
- percentage of engaged & actively disengaged workers
- perceptions of government & business corruption
- belief that working hard will get you ahead
- perception that India is a good place to start a business
- percentage of those saying they are dissatisfied with their personal freedom
- percentage of those who rate their lives so poorly they are considered suffering.
Ask about every decision taken, what does this have to do with driving the above demands?
D. The Impact of Bosses:
How much do bosses matter? There are two notions of the impact of bosses. One is the increase in productivity that a typical worker would achieve by moving from a poor boss to a good boss.
The other is the increase in the productivity of all team members, resulting from more time with the Average boss.
If bosses were mere decorations, one would expect no variation in boss effects beyond sampling error.
B. To which workers should the best bosses be assigned ? Do good bosses improve productivity more for the best workers or more for the worst workers.
C. Workers are Additive, Bosses are Multiplicative.
For instance Why is a research scientist who makes a great breakthrough so valuable to a firm? It is because the innovation enhances the productivity of a large no of workers.
The effect is multiplied by the number of workers that the innovation affects.
The effect of worker talent on output is just the effect itself, whereas the effect of the bosses talent on output is multiplied by the number of individuals supervised.
Workers switch bosses about about four times per year. It is switches to different bosses that permits estimation of the effect of bosses on worker’s productivity.
Workers & Bosses should be matched according to performance. The effect of good bosses on high quality workers is greater than the effect of good bosses on lower quality workers, but the effect of sorting is not large.
A. Human capital & Effort : An individual worker’s output at time ‘t’ depends on human capital, hich reflects both innate ability & previously learned skills & on effort.
A worker’s stock of human capital at time’t’ depends on experiences with current & previous bosses .
Past bosses can affect the worker’s output at time ‘t’ because some of the knowledge & work habits acquired from those bosses may be retained.
Bosses, in the context in which we study are most important in their ability to teach & motivate workers . For the most part, they do not engage in task assignment , hiring or other aspects of the supervisor job, although they may play some role in firing & in promotion.
Should good bosses be matched with good workers or with bad workers?
Living a luxury lifestyle means enjoying the best, the world has to offer.
A Beautiful luxury dream home to relax in , is a wonderful reward for all the long hours & hard work. Success is not for the faint hearted that is why the best home available is what you should have.
Once you educate yourself about the best , its time to shop from the best.
A luxury lifestyle is one that is all encompassing in all areas of life, from the material to the immaterial. Sharing life with loved ones makes life worth living.