Management lessons By a 4th grade pass out

Two stories on this Deepawali - Satya Nadela got a whopping 80 million USD salary and a Mr. Dholakia , a little known diamond merchant giving away 50 crore worth of bonus to his 1200 employee in the form of house, jewelry and cars.He calls it "Social Business". Two extremely inspiring stories but sure the second one is more non conventional and has better TRP. Traditionally, Deepawali is a occasion for gifting to employees but no one would have imagined,it could be beyond the packet of sweet and a petty gift item. Sometimes, generosity could be as much as a month salary to the workers. But this has created a new benchmark. I watched this interview y'day evening and heard better management lessons then perhaps Harvard graduates would have been able to give. ....

Some of the key elements stated by him ...

- the money spent on employees will be recovered sooner or latter. The ulterior motive of money making is not lost in the win win process.

- wife and parents should be taken care more . In fact, his practice of taking the parents on pilgrimage is a unique one.

- The incentive given to employees is directly linked to value he creates. There must have been a strong performance measurement system to attribute the value to individuals.

- The incentives is for the individual need. One needing a car got a car, needing house have it and those having both got the jewelry for their wife's. I wonder if any where the incentives are so well differentiated and customized for each ones needs.

- he calls his ordinary skilled employees dimond engineers and diamond architect - no better way to motivate than is by acknowledging the skills and attaching prestige.

- he provides apprentice training to fresh ones. A process which has been some how lost in the MNC culture and fast changing turfs. But still an important aspect for building loyalty . The GET system has more performers than the lateral hires.

- He created stadia for employees to play and gel well with managers. This is a well accepted and proven method of creating engagement at work place and cordial atmosphere.

A 4th grade pass out defenetly has a better wisdom than the management pundits.

more importantantly, indirectly he created a brand without spending anything in media. Everyone is talking about it ...wish all of us get a similar employer....HaPpY DeePawali.....