Many a time a question arises in a manager's mind as to which of the stakeholders ( viz. employees, customers, shareholders, society) is more important. When it comes to taking a decision on a trade off between differing stakeholders interests there is an ambiguity as to whose interests are to be given the highest importance.
I believe in “People First” philosophy and believe that all the people managers should explore and experiment with this point of view. I genuinely believe that people are the "greatest" assets that every organisation has. If people are well taken care of then they inturn will take good care of customers by delivering high quality and high value output. Satisfied customers give the firm more business and this will create greater growth for the firm. More growth and more profits for the firm would mean more opportunities for growth and better career prospects/remuneration for people within the firm. This inturn will motivate people to further perform better and also create more employment opportunities for the society.
Thus this will become a self reinforcing loop which is beneficial for all stakeholders ( employees, customers, shareholders, society).
So keeping employee interests ahead of everything else helps achieve all the outcomes that are amicable to all the different stakeholders.
Dear Deepak - Can't agree more w/ the concept of self reinforcing loop. A "people First" organization will not only have excellent human resources leadership but a workforce that is diverse, inclusive and committed to creating quality customer service. Cheers, Vaneet Arora
ReplyDeleteHi Deepak,
ReplyDeleteAgree with your viewpoint. They say that
"greatest technological advancenment is a failure in the absence of human competence to use it".
But its also true that people management is still a mystery for managers.In competetive IT industry we still have challenges on how to create a high performance team and to effectively engage people. We still loose best talent working under organizational norms.
Cheers,
Smriti