Uncategorized Ganesh Natrajan

Building HR Strategy, Managing Culture Design & Change Inder Walia

Building HR Strategy V. Balsari

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Uncategorized Harsh Mariwala

Uncategorized Ajit Isaac

Uncategorized Tanmay Kapoor

Uncategorized Ian Ridgwell

Organization performance has been the focus of scholars since long. From Fortune 500 list of companies in 1992, only 120 appear in the list of Fortune 500 for the year 2007. That is, over 76% of the Fortune 500 companies disappeared from the list in 15 years, Accenture study (2007).

In India, one of the most readily available organized data on performance of the business organizations is published by Economic Times, in terms of ranking of Top 500 companies in India. This is published every year so that the comparison from year to year is possible. For the purpose of this paper, 10 years’ data from the fiscal year 1995 to fiscal year 2005 was taken. These 10 years have been the years of liberalization and growth in Indian economy, marked with unprecedented and sweeping changes. This has thrown open opportunities in all sectors of economy.

Organizations have had wider choices to embrace new technology, launch new products, enter new markets and become global companies. These opportunities have been available to all companies in India. Some of them made full use of these opportunities and grew very rapidly. On the other hand, a large number of companies have not been able to cope with this new liberalized competitive environment. Economic Times ranking of 500 top companies in India shows that 309 out of top 500, i.e. 62% of the companies listed in the fiscal year 1995 are no longer in the Economic Times listing of top 500 companies for the fiscal year 2005.

Further, 101 out of total 500 companies i.e. 20% of the companies have declined in their ranking from fiscal year 1995 to fiscal year 2005. Only 90 companies, which are 18% of the Top 500 companies, have improved their ranking over the last 10 years. Both Fortune 500 and Economic Times 500 indicate a trend that large number of organizations are not able to sustain their success over a time period of 10 to 15 years.

Why does this happen? Does leadership play any role in influencing the company’s performance?

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Building HR Strategy, Managing Culture Design & Change Arvind Agrawal

“Let’s say that I have to go to a tower a few kilometres away from where I am. What matters is not only to identify the path to reach there but also how to reach the desired destination,” says Mr. S. Vardarajan, EVP and Chief Human Resources Officer at Quattro BPO Solutions, in a recent conversation with HR Talks Team, National HRD Network on Execution Excellence.
Raja, as he is fondly called by the members of the National HRD network, has had an illustrious career in HR. One of the founding members of Quatrro BPO solutions, he has played a major role in the company’s rapid growth to over 3000 employees in less than five years. Under Raja’s visionary leadership, Quattro has won several awards and recognitions such as Watson Wyatt Awards (2002 & 2003 for the most innovative HR practices), the World HR Congress (the most innovative HR practices in the Services Sector, 2003), Great Places to Work Survey 2003 and 2004, Hewitt Best Employers of 2003 and 2004, and National HRD Network (Network Trailblazers Award 2004). He was also awarded with the HR Leadership Award by World HR Congress in 2009 for his thought leadership and contribution to the field of HR.

The statement above was spoken in context to delineating the role of strategies in achieving a particular goal. “If you are able to achieve what you have planned to achieve in the most optimal manner- i.e. at the right cost and at the right time- this is what I would call excellence in execution ,” says Raja. Execution is to do with strategy, whereas excellence would be doing it right in a shorter period of time.

It is true that the focus has always been on formulating strategies in majority of the organizations. But it only makes sense because strategy forms the backbone of any goal that organizations want to achieve as it gives a clear cut direction for them to follow. “Strategy plays a very critical role because it provides the overall path to reach a particular goal. It is necessary to understand the steps to achieving something-only then can those steps be implemented to realize the ultimate purpose”, explains Raja. “The focus should be- 80% on strategy and the remaining 20% on the action steps”, he further elaborates.
The role of the manager becomes extremely important in implementing the plans charted out. His/her role should be that of formulating strategies for majority of the time. “However a manager should give equal importance to the execution of the plans as well”, he reminds us.
Achieving organizational excellence is what Mr Vardarajan speaks of in earnest passion. He says that it is important for organizations to plan properly and monitor the action steps that will be followed. “Once the steps are laid down one should monitor the action steps during the course of these steps rather than responding at the end of the entire process. You should keep monitoring your action steps as you go by”, he adds.
Even though managers have a pivotal role in formulating strategies, every level of the organization has to be involved for achieving excellence in execution- “ it is not a one man job; each person has to be involved at every step from the VP of the company to the lowest level of worker. Execution should be done by everyone in every manner”-he says. This only makes sense because today i.e. the age of Gen X, people want to feel empowered and the more involved they are in the processes of the company, the better it is for all concerned.
Communication also plays a very critical role. ‘Communication is extremely important in explaining the strategy, defining the steps and measures of performance” he explains, “because clearly communicated steps ultimately leads to high performance level”, he adds. He also points out that communication plays a vital role in giving feedback to the employees. Communication and strategising therefore are very important to let the workforce know as to where they are headed.
In conclusion, Raja avers that one should strategise and execute the plans correctly, as also communicate the plans to the people involved to achieve execution excellence.

Execution Excellence S Vardarajan