Putting people at the heart of organizational growth
Venkatesh Veerachamy (Venky)
Co-Founder & COO - Zuci Systems & INTICS.AI
In 2003, Elizabeth Holmes seemed all set to be the next icon of woman entrepreneurs. Her company, Theranos—a combination of “therapy” and “diagnosis”—was launched and its valuation soared after it claimed to have revolutionized blood testing by developing methods that needed only very small volumes of blood, such as from a finger-prick. In 2015, Forbes named Holmes the youngest and wealthiest self-made female billionaire in the United States with a $9-billion valuation of her company. Dressed in a characteristic black turtleneck—possibly influenced by Steve Jobs’ famous Issey Miyake look—she was the talk of the town.
However, in the following year, revelations of fraud about Theranos' claims surfaced, and Forbes revised its estimate of her net worth to zero, and Fortune named her in its feature article on The World's 19 Most Disappointing Leaders.In 2018, the US Securities and Exchange Commission (SEC) charged Holmes with raising a "massive fraud" involving false or exaggerated claims about the accuracy of the company's blood-testing technology. In 2023, she was sentenced to serve 11+ years in prison.
What went wrong?
Despite her visionary ideas, Holmes' authoritarian leadership style and disregard for employee well-being ultimately led to her company's downfall. By neglecting to cultivate a culture of trust and communication, Holmes alienated her team and eroded morale, ultimately squandering the potential of her groundbreaking technology.
The importance of people management
People management isn't just about overseeing tasks and deadlines; it's about fostering a culture of care, collaboration, and growth within your team. As a people manager, you hold the key to unlocking the full potential of your team members and guiding them towards success. However, effective people management goes beyond just ticking off boxes on a to-do list; it requires a genuine investment in the well-being and development of each individual under your care.
One shining example of effective people management can be found in the leadership style of Satya Nadella, CEO of Microsoft. Under his guidance, Microsoft has undergone a cultural transformation, placing a strong emphasis on empathy, inclusivity, and employee well-being. By prioritizing the needs and aspirations of his team members, Nadella has fostered a culture of innovation and collaboration, driving Microsoft's success in an increasingly competitive tech landscape.
Here are some interesting stats:
According to these statistics:
===========================================================
Employees who feel their voice is heard are 4.6 times more likely to feel empowered to perform their best work.
===========================================================
Tips for effective people management
?Based on my experience managing people over a long period, here are some tips that have worked for me and may work for you as well.
?By leading with empathy, you foster a sense of trust and camaraderie within your team, ultimately leading to greater collaboration and success. So, for instance, if your team members struggling with a challenging project, instead of dismissing their concerns or pushing them to work harder, you take the time to sit down with them and truly listen to their perspectives. You empathize with their struggles and offer your support, helping them feel valued and understood. You never know what insights may emerge out these discussions, but you’ll definitely win their enduring trust and loyalty.
?How often have you been told you will receive information on a need-to-know basis? This might make sense in a spy movie but if it happens too often in a corporate setting, it’s a sure-shot red flag. So, if you are leading a team meeting to discuss a new project, instead of keeping all the details to yourself or only sharing information on a need-to-know basis, you openly communicate your vision, goals, and expectations with your team. You encourage everyone to share their thoughts and ideas, creating a culture of transparency where everyone feels heard and valued. You get everyone on the same page and empower your team to work collaboratively towards a common goal. This open communication not only strengthens team morale but also leads to better decision-making and outcomes.
Have you fueled your team's aspirations by actively supporting and encouraging their growth and development? Ideally, you should identify and seek out their aspirations and provide opportunities for training, mentoring, and skill-building, empowering them to reach their full potential. ?By prioritizing growth and development, you not only invest in the success of your team members but also foster a culture of continuous learning and improvement.
How often have you seen people in your team working late into the night and skipping lunch breaks to meet deadlines? Instead of applauding this dedication or ignoring the signs of burnout, you should encourage them to prioritize their well-being and take time for self-care. You should lead by example, setting boundaries and demonstrating the importance of maintaining a healthy work-life balance. By encouraging work-life balance, you ensure your team members are happy, healthy, and productive in their professional and personal lives.
领英推荐
Nothing motivates an individual more than success. But how do you handle failures?
Instead of dwelling on the failures or assigning blame, you gather your team to reflect on what went well and what could be better. By embracing failures as learning opportunities and celebrating successes, you create a culture of resilience and innovation, where every setback becomes a stepping stone to future success. And celebrating every win, no matter how small, can actually set your team up for success. It doesn’t have to be a big bash, even a simple pat on the back can work wonders.
Your actions and behaviors leave a lasting impact on your team. Whether it's showing up on time for meetings, actively listening to your team members, or taking ownership of your mistakes, you lead by example every day. Your actions speak louder than words, setting the tone for a positive and productive work environment. By demonstrating the values and behaviors you wish to see in your team members, you inspire them to do the same, creating a culture of trust, respect, and accountability.
Remember that it is your people—their talents, aspirations, and well-being—that truly drive organizational success.
===========================================================
Each individual brings unique skills and perspectives that drive innovation and growth. Organizations foster engagement, productivity, and loyalty by nurturing employees' aspirations and prioritizing their well-being.
===========================================================
It is essential to recognize the need for people-centered strategies to create fulfilling workplaces that thrive amidst the complexities of modern business.
References:
2.???? According to the State of the Global Workplace: 2023 Report
3.???? Based on a study by Gallup
4.???? From a study by Hubspot on the Importance of Employee Feedback
5.???? According to a report by Salesforce
Readers – A Quick Note:
People management is not just a matter of dry theory; it's about practical insights and actionable strategies. So, if you are curious about leveraging your team's full potential and understanding the true power of people, read my book, People Forever. In this book, I have tried my best to dive into the 'how' and 'why' of team building, employee recognition, and everything in between.
Now available in Amazon and Notion Press!
Would love to hear your feedback and suggestions. Thank you.