Managing Talent: Followed by Many but Known to Few.

Where everyone around us is busy planning and starting their own startup ventures and where every Indian companies are planning to strengthen their human force to give stiff competition to MNCs, the bitter reality is8 out of 10 companies’ fails. Why? Because of lack of funds? Because of lack of resources? Because of poor idea? No! The main reason is poor ability to manage talent of their organization (the greatest asset of the company).

Where business enterprises has taken leaps and bounds on employee management policy around the developed nations, employers here are keeping hawkish eyes on the employee and are still following the same somberly silence, military discipline and colonial formalities banning even the use of mobile phone in the office.

Gone are the day when employees only looked for high salaried job and an unrelenting office set up. Now it’s the job satisfaction and office atmosphere that ultimately makes a difference. Research show that average employee turnover rate in most of the Indian Companies is 6 month to 1 year. The number one reason employees quit their jobs is because of a poor quality relationship with their direct manager.  No one wants to work for a boss who doesn’t take an interest in their development, doesn’t help them deepen their skills and learn new ones, and doesn’t validate their contributions.

When work stress, pressure and overtime work is becoming the routine of employees of Indian companies, there are  companies going out of the way to make their staff love the work they do, ensuring they have great work life balance, reaching out to its employees in the time of crisis and even supporting them for their personal life.  

So here are some tips to manage the human resource of the company and taking the best out of them.

1. Respect the people and nurture the performance.
Respect and value the people in an organization. Make them feel that they are the part of it and their presence is valuable to your organization. Encourage creativity, employees want to be listened to. Instead of saying “yes but” start saying “yes and”.

2. Delegation is an art.
“Ram, do this…”  This is not delegation. This is an order. A good delegator is a good teacher. Start delegating this way “Ram, here’s what I need you to do. This is why it’s important. This is how it fix into what we are trying to do. This is how I usually do it, but the key parts are this. The key thing is don’t do this... Now go to it, if there is any doubt, I am here for it. I will be checking on you and how you are doing. Don’t worry!” I bet employee will give his hundred percent if you delegate the task in such manner.

3. Expect Mistake.
Learn to live with the humanity of employees- mistake will happen. Expect mistake, look for them, and find them. Teach don’t punish.

4. Critique performance, not the person.
Never start by saying “You are doing it wrong.” You are conveying that the person is bad. Instead say the performance of task is heading to our standard. Choose your words wisely, they have great impact on people working with you.

5. Reward and Recognition
If you want your employees to do something, measure it. But if you want your employees to do something well, measure and reward it. Not necessarily monetary, reward can be emotional values as I earlier said employees are not in your company only for money, they want value.

6. Shift from “How can I get excellent performance out of my team members?” to “How can I get excellent performance out of my team members while helping them grow?”

7. Teach them, train them and let they know you care for their growth not only the growth of the organization. Trust your employees. Follow principles not rules. Success depends on teaching, motivating and relating and on daily basis, engaging employees and managers in pursuit of excellence and high performance. Have you watched the farewell speech of Hollywood actor Leonardo DiCaprio in the movie ‘The wolf of Wall street’? If not, you must.   When you start treating your employees as asset rather than costand trust them, care about them, employees view their work as more than a pay check. They are proud of where they work and find meaning and emotional satisfaction in being part of your business. And do keep in mind A Happy Highly Engaged Employee Creates Highly Engaged Customers that Creates Money.

Keep Learning, Keep Improving and Keep Motivating!

CA Final
Specialization on “Leading People and Teams”
Ross Business School
University of Michigan  
प्रकाशित : 9:04 AM