Long Journey. Many Lessons. What I Learned from Econz

All journeys teach you something. My journey of around 15 years with Econz has taught me something as well.

When Econz was established in 2006, we knew we were in for the long haul. We had a few ground rules to start with, and we stuck to them fervently. 

Looking back, I’m so glad we did.

Because these ground rules acted as our North Star, always guiding us in the right direction even when the unexpected happened (and it happened multiple times). So now, around 15 years later, I can confidently jot down these guidelines as the biggest learnings I have taken away. 

1. Establish a business methodology

Draw up a framework for business operations, which will act as the solid foundation for your business to stand on. Establish processes early in the game; they will be the forces that keep chaos at bay. Processes help you be prepared and what could be better than that?

It was very clear for us from the beginning that set processes – in general operations, in departmental functions, and in HR – must be given their due importance. At the risk of sounding severe, processes were so crucial to us that they form one of the three core factors in our HR principles – people, process, psychology.

These processes manifest in hiring, interviews, performance review, client onboarding, and whatnot. And they have never let us down.

2. Focus on the people

Businesses, when they start, are rightfully obsessed with the success of their products and services. What is also equally important is the investment in your people. People make the company. And it’s only common sense that you invest your time and cost in them as well.

Employee retention starts with delighted employees. The ultimate aim of your investment must be to give them a reason in turn to invest in you. 

Employee holistic development is one of our core cultures and we love to look beyond whether an employee is happy in the current situation. Employee growth and their desire for accomplishments are as important to us as their satisfaction.

Courtesy: Vecteezy

3. Never stop learning

I understand. We all lead busy lives. Whether you are at the top of the so-called ladder or at the beginning of it, continuous learning is a major requirement. Every quarter must begin with the roll-out of an employee L&D calendar.

Leaders, on top of training, will also benefit from keeping their ear to the ground. Be active in forums and networks that match your profile. Attend webinars and online sessions on a regular basis to stay updated on what’s new in your industry.

Learning always pays off.

4. Provide a platform for applying their learning

Build a culture of innovation. That is the simplest and the straightest path to encourage employees to apply what they have learned. An open inclusive culture will also help immensely in this endeavour as it provides your people with the conviction that they and their ideas matter. 

5. Hire superheroes

Hiring is one of the most important areas that we invest in. We put in the time and effort to handpick the best people for the job. How do you evaluate these best people? Is it through their educational qualifications?

The answer is not as simple as that.

We always look for people who showcase commitment, adaptability, and a strong moral compass. Ethics is something that is non-negotiable for us. We believe that success is always the result of more than hard work. There is a soulfulness that guides each of us along in our paths and this is an essential factor that defines whether we succeed or fail.

In the long run, ethics and commitment will matter more than degrees and certifications. 

6. Always be proactive

Once again, processes to the rescue. Have your contingency measures in place so that you’re never caught off guard. If anything, 2020 has taught us that.

Speaking of 2020, we believe it is our obsession with being process-oriented that helped us with our excellent employee retention rate during COVID-19. I’m proud to be leading a company that did not have to resort to lay-offs and salary deferment during these toughest of times because we were ready for this contingency.

7. Intent and innovation go hand in hand

The intent to do well might sound too simple a principle. But it is a mighty force in a business environment. Someone who is intent on being committed and getting something done will go out of their way to innovate.

Encourage employees whose intent matches their zeal and you get a winning combination.

8. Go beyond your promises

Do not make promises to a client you can’t keep no matter how urgent or desperate the situation. Reputation is as important as revenue. In fact, ensure that you’re constantly in a position to over-deliver. 

And how about making that a habit? Or a normal state of functioning? 

Courtesy: Vecteezy

9. Build trust with clients and employees

I don’t think that even now, trust is given the importance it deserves in a professional environment. Building trust with your clients and employees goes a long way in creating lasting relationships. 

And I can’t stress this enough. Relationships matter. Do not burn bridges no matter how much you are pushed. That’s where true professionalism comes into play. 

10. Make customer delight your one true goal

I dedicated a previous article completely to discuss how crucial customer delight truly is. Here, we go beyond customer satisfaction because customer satisfaction is only what is expected. There’s nothing great about just meeting expectations anymore.

Go beyond your promises. Capture some hearts. Influence some opinions. Delight.