Amid worsening employment scenarios in the country, leaders at the forefront of guiding various companies through the pandemic urged their counterparts to treat the workforce with empathy. "It is important to not treat them as liabilities. They are assets," said Mythili Ramesh, CEO and co-founder of NextWealth, during a virtual conclave on Human is Not a Resource (HINAR) leadership programme conducted by Isha Foundation on Saturday.
This year's conclave comes at a time when layoffs have become a norm of the day as businesses struggle amid the pandemic. Inaugurating the conclave on Saturday, spiritual leader Jaggi Vasudev observed that treating humans as a resource would come in the way of exploring the real potential of an individual. "Humans are not a resource but a source of infinite possibilities. Especially in challenging times, leaders who invest themselves in cultivating human potential can turn every challenge into a new possibility," he said.
"It is my wish that you must become that person who constantly unlocks potential in other people. Let’s make it happen. Especially when times are uncertain, what sort of human beings you have around you in your business is important. People who will give their best, people who you can trust, who will not be an impediment," the spiritual leader, popularly called Sadhguru, added.
The panel discussion featured Alok Tandon, CEO of INOX Leisure; B.S. Nagesh, founder of TRRAIN and non-executive chairman of Shoppers Stop; Murali Sivaraman, former president of Philips Lighting; Sangeeta Pendurkar, CEO of Aditya Birla Fashion and Retail's Pantaloons and Jaypore brands; Basab Mitra, partner at McKinsey & Company and Rahul Prakash, partner at Route to Market Partners, among others. COVID-19, for sure, was a learning curve for these leaders.
They emphasised on the importance of empathy, especially while treating employees. The mood of the employees were best summed up by Pendurkar, who said, “Cut my pay, don’t cut my self-esteem."
The leaders also shared interesting insights and learnings from their experience of wading through the pandemic. “A leader has to be over communicative. He should not shy away from showing that he, too, is vulnerable,” said Prakash.
“I know our team is strong. Everyone who is working with me is helping me stay optimistic. How people motivate themselves and inspire themselves when the chips are down is very important," said INOX's Tandon. With no business happening for the past three months, INOX was forced to lay off a few employees. "We are at a place where, from generating Rs 400-500 crore every quarter, not even a single rupee has come in since April. We are planning restructuring to come back in flying colours," he added.
With remote working becoming a necessity, it is also time for leaders to introspect and script a new working culture. “We have to instil a new culture. Leaders must lead and not micro-manage. We also must change the definition of success and failure,” said McKinsey & Company's Mitra.
