‘I CHANGE MY PAST BY NOT REPEATING IT – JAMES HETFIELD (Lead Vocalist of Metallica)’
This quote has helped me channelize a lot of my thoughts and stopped a lot of my actions. It showed me that knowledge, learning and development can come from anywhere. Just like Mr. Hetfield; vocalist of Metallica, the biggest heavy metal band giving me the mantra of my life. It also talks about a very key characteristic that we human beings possess – WE REMEMBER. The Past can often be very daunting or scary for some who has explored their dark side. It is often forgotten by doing good/beneficial deeds to show remembrance or ensuring that we have had a learning.
Past also plays a very crucial role in the lifecycle of a MSME. Remember, WE REMEMBER. Lot of employees remember their colleagues at workplace, the visit their favourite haunt- their tapri and the small talks over a cup of tea, their workplace achievements, rewards and recognitions but; how many times have we heard someone say that I owe my career to the organization that employed me? I loved my workplace and I am saddened to leave? 10% out 100 or maybe I am quoting a large number. MSME is always prey to a monster called attrition (Salary and benefits will still be the number 1 reason they leave) and employees spoiling the brand image of the organization. The question is; is this news always fake or are we, the MSMEs turning a blind eye towards the horizontal needs and growth of our employees.
Let us re-visit the 3rd Quadrant -
A lot of times MSMEs forget that we need a skilled and developed workforce to meet our targets and fulfil our strategies. I am not saying that you always will have budgets to drive a corporate Training and Development bouquet and I also disagree that the MSMEs cannot build a custom Learning and Development culture.
Let us look at some reasons why an Employee does not stick around in the MSME – (Image source – Capterra Study)
Poor work life balance, managers, career progression etc. are all elements of what the MSME monster has always been fed and now coming, is the time when employees have easy access to data of an organization or have their own reference checks in place. They do not fall prey to this monster and choose what is best for them; they join an MNC. I really ask you; is it really that difficult to create a culture of choice, a learning environment in our small cosy setups. Why can’t an MSME look the MNC in the eye and say, ‘Hey you; the customer will choose me’ or why can’t the MSME say to the Customers what every Bollywood vamp says, ‘Usme aisa kya hai jo mujhme nahi? ’ Robust systems and processes help a lot of organizations do their math of risk management perfectly. They also ensure a 360-degree approach of learning.
I think of two major reasons why a Business Owner does not invest in Self or Employee development –
1.It is only meant for me because it is expensive
2.Will they stay with me for long enough if I invest in them?
The dilemma is created by wanting to eat everything on the plate. I often say this in my Sales pitch to every business owner, ‘You cannot build a Reliance even if you have the money’ and you CANNOT. It requires Strategy, efforts, money and time investment and I think they have mastered the art of Customization. They did not do all that they were capable of; they mastered one and moved to the other. The rise of Mukesh Ambani and the fall of Anil Ambani is the best example of this. He wanted it all at once and the other ensured that he planned his entry as per his audience.
There are a lot of reasons why Small Business Fail.
Below are some critical ones. (Image Source – MBA Central)
Business owners have become perceptive in nature. They feel as if they know everything and they and only they can seek the power of knowledge. Yes, I agree that an owner needs to be skilled and evolved but as and when you and your organization will grow; you need to create your succession with systems and processes in place. The owner needs to drive self-resilience which can help his/her and a lot of stomachs which are dependent on the business. Some key initiatives can help us plan well and create those relevant growth patterns: (Image source – Mckinsey Case Study).
COVID 19 has shown you who has stood with you and your confidants. It will throw more-light when the lock down starts to lift. You will need a very capable and filtered workforce to sustain and or pick up from where you left. The competition is going to multiply with the Make in INDIA movement. RE-Instate will act as the ELIXIR to immortality and I give you the below mentioned pointers of Success –
>> Chose an Organizational Culture or have it chosen for you. Consultants exist because we know you need that kind of help.
>> Developing your Succession – Personal or Professional is the only way you can create more Success. You need someone who can free your time. Either to invest it more in business or for yourself.
>> Talent Hiring, Development and Retention mechanisms – Your workforce also need to feel valued like you do. Vertical growth will make them happy and Horizontal will satisfy them with what they have and why!
>> Human Resource Upskilling – Please invest in your HR systems and processes. They are your back bones. And please; do not pick up a random product for implementation, have it custom made for you. You know what you can sustain.
These not only empower your workforce; they also give you the data required for your growth mechanisms and how to create a perfect system which can be replicated for more growth and success. They are called Success Quadrants for a reason. The 4th Quadrant will throw more light on how to let go!!
Founder & Director
Skalent Consultancy Services Pvt Ltd.
Satchit Jamgaonkar is one of India’s leading Facilitator, Business and Life Coach decorated with an award from Silicon India, acknowledged for being amongst India’s top 10 most promising Learning and Development Consultants.
His proven track record and portfolio supports his diversified experience in various industries and capabilities for more than 20 years. With a Mission of ‘Delivering Legacies with a futuristic approach’; his custom solutions and deliveries have created a healthy and beneficial learning environment with complete focus on Implementation and Sustenance of the learning imparted. He has helped a lot of MSMEs grow across domains and industries and guides prestigious Corporate professionals, Senior Leaders, Managers and Individuals with diverse roles, hierarchies and backgrounds.
He presently lives in Pune and is engaged for deliveries PAN India.