27 Jun 2019, 13:00 — 6 min read
Background: In the current business scenario, the biggest challenge for an organisation is to retain their talented resources and provide them with the best benefits for them to profit the organisation in the long run. Is it then advisable for companies to just use their employees to achieve their short term goals or letting the employee grow with the growth of a company is the ultimate strategy for success? Roshan Dsouza in his previous article shared how
'No company was built with a single person.'
The challenge today for companies is not getting new customers but retaining the high quality talent they have in their company. The risk of losing talented employees is a challenge that businesses have been grappling with for years. Well, there is always a solution, when there is a problem and we need to get to the root of the problem first.
Money is not the problem
The recruitment of an individual begins with a carrot of remuneration. The growth is based on remuneration, the increment is based on remuneration and the need to reward the person is remuneration. All this is good, but the drawback is the connection between employees and the management.
The bridge is too wide and the accessibility for understanding the business vision is only on paper and never in person. While all are victims of our own creations, we have to understand that a company is not great without its employees. The problem of churn starts with a brutal taskmaster in a form of a manager or head of the department or a just a wayward company who is not looking for long-term growth and focuses on immediate gratification.
An employee is thus trained from the beginning that they have to make a difference in the world if they are looking to make a difference in their life, travel, buy their dream house, drive the fancy car, eat at reputed restaurants and much more than we can imagine. Yet, there are employees who know the long-term goal and work towards it to make sure they and the company can grow together.
There is synergy in the work executed and a lot of hardship is shared to help growth be of mutual benefit and mutually exclusive. This brings us to the solution.
Also read: 3 hacks to skyrocket your productivity
Giving them control of the time
A classic example is a behemoth called, Alphabets Inc., commonly known as Google. They do not make their employees responsible for the company growth. They allow the employee to grow in their dimensions and abilities of performance which are synced with the company goals or achievements. Google gives its engineers 20 percent time to innovate on whatever projects strike their fancy. We can see the end result of their achievements on any channel or site.
A similar model is adopted by the company 3M who are into manufacturing and marketing. All their products are developed by their employees or most of them. And that is made possible by as 3M gives people 15 percent of their work week to explore new opportunities. The benefit of this shows in their churn ratio and the number of people who look towards leaving the organization which is very low.
The challenge today for companies is not getting new customers but retaining the high quality talent they have in their company.
At the start of this article, I mentioned that an employee is lured to join an organisation due to the remuneration and everything that follows is remuneration too. The examples cited above also had the same lure yet they wanted something more than just the money that allowed the employee to make a choice to remain in the company and help both grow towards independent goals. The magic is not only recruiting the right talent for the job but the right personality that the company has created or visioned for themselves.
The end result
There are many nodes that are not in the scope of achievement, some of them are not mentioned in a resume but on interacting with the individual the learning is shared and the opportunity to realise the individual’s capacity to deliver based on the culture and personality of the organisation is clear. When we are able to match the personalities in a harmonious manner, there is a synergy and the result is growth without boundaries or limitations.
The unfortunate part of this whole understanding is that people are treated as mechanical objects to achieve a goal and the goal is not cleared with them and worst yet, those people are not equipped to face the challenges in an organisation. This gap is creating the struggle in a company and limiting their growth potential to that of the owner or the management.
I strongly recommend to the management to let go of their control on the people and allow them to perform in the best manner possible.
Image courtesy: shutterstock.com
To explore business opportunities, link with me by clicking on the 'Connect' button on my eBiz Card.
Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views, official policy or position of GlobalLinker.
28 Nov 2019, 11:34
4 Nov 2019, 14:00
1 Oct 2019, 17:02
Most read this week