As HCL faced the prospect of being lost in a sea of competitors in the IT services industry, he chose to focus on and value his employees as the company’s value proposition. Vineet describes the employee value proposition entire process he went through in this Harvard Business Review article. He identified four vital keys to jumping ahead of the competition:
- Mirror, Mirror Engage in honest, candid discussions with your entire organization and involve them in the strategizing process. They probably have a better idea of what’s happening on the frontlines anyhow, so bring their ideas into the discussions from the beginning.
- Trust Through Transparency Transparency is important for all areas of the company. You must be willing to share your financial data with all your employees. In addition, think about the most effective way to receive and manage feedback with employees and managers. HCL implemented a 360 performance review system that was public, which helped create accountability.
- Invert the Organizational Pyramid While easier said than done, giving employees the freedom to innovate without being micromanaged can completely transform your organization. Not sure how to do that? Read the article I wrote on How to Harness Organizational Creativity.
- Recast the CEO’s Role Instead of PowerPoint presentations of business plans, HCL made the employees the CEO and switched to short, online, business plan videos, which were available for everyone in the company to view and provide feedback.
I’ve only glazed the depth of this article, so read more here. And then let me know: Have you undergone a massive organizational change recently? Was it a positive experience? Negative? Leave a comment on my website.