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Younger employees' thoughts are brighter: all we needed to do is unleash their potential and channelise their energy in the right direction. A hands-off approach worked the best for the HCL Technologies.
Mr. Vineet Nayar
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Following above you will read today success story of Mr. Vineet Nayar :
Mr. Vineet Nayar is the Vice-Chairman and CEO of HCL Technologies, the leading global IT Services Company. He is the person who steered HCLT to emerge as one of the fastest-growing and profitable global IT services company. HCLT has been ranked by the Business Week as one of the twenty most influential companies in the world. Nayar is an active member of G100, a group of CEOs of some of the world's most significant companies.
Born in 1962, Nayar received his bachelor's degree in engineering from Govind Ballabh Pant University of Agriculture & Technology, Pantnagar. An alma mater of XLRI, Jamshedpur he received his MBA degree in 1985 and joined HCL as a Senior Management Trainee (SMT) from campus. In 1993 he created the start-up company, Comnet where he developed and implemented many of the ideas which are core to his famous ‘Employees First, Customer Second (EFCS)’ philosophy.
Later HCL founder Shiv Nadar proposed Nayar to take over the reins at the floundering infotech major but the latter refused. This was in 2004. A year later, Nayar accepted the offer and emerged as the President of HCL Technologies. But it was a tough initiation: HCL lost three valuable clients during Nayar's first week as president.
Over the next 18 months, HCL transformed itself from a company that had been written-off to an enterprise that delivered the fastest organic growth among Indian IT companies. Such was the scenario that Nayar's change management initiative was closely watched by management experts everywhere and even found space as a case study in a recent issue of Harvard Business Review.
In next five years he turned around the company. HCL’s revenues grew from USD 700 million to about USD 2.6 billion, and its international expansion accelerated. In year 2007, Nayar was designated as the company's CEO and subsequently it’s Vice Chairman in 2010. The rest is history. Today, HCLT is recognized globally for its impressive business performance and innovative management practices.
HCL, which sells IT-related services such as systems integration, business process outsourcing, and software engineering and high-tech R&D, is known for both its technical strengths and an uncommon focus on internal transparency and employee engagement.
Nayar’s strategy has been reengineering his business four times in eight years to showcase the unique value in its services. He proved to the market that their organic business model would grow faster and could become the fastest growing company in the IT sector without an acquisition. Without compromising the year-on-year growth, they successfully launched disruptive and innovative initiatives like Employee First, 360-degree, Service + Thinking IT framework and so on.
His book ‘Employees First, Customers Second: Turning Conventional Management Upside Down’ which he penned deals with how one small idea can ignite a revolution. In the book he defied the conventional notion that companies must put customers first and turned the hierarchical pyramid upside down by making management accountable to the employees, and not the other way around. By doing so, Nayar fired the imagination of both employees and customers.
Under his stewardship, HCLT has been named ‘Best Employer in India’ by Hewitt Associates, and BusinessWeek listed HCLT as ‘one of the five most influential up-and-coming companies in the world’. Fortune magazine has characterized HCL as having ‘the world’s most modern management’ and IDC recognized it as having “the most cohesive and articulate vision" in the IT services sector.
Nayar has won many global citations for developing the EFCS model including the first ever ‘Leader in Digital Age Award’ by CeBIT, the world’s largest trade fair showcasing ICT and ‘HRD Excellence - Pathfinder CEO Award 2010’ by the National HRD Network.
At the age of 49 he has firmly cemented himself as one of today's outspoken controversial personality of the IT industry. Never afraid to offer an opinion that has raised many eyebrows in the past, the self-styled CEO booked his ticket to notoriety when he said most of the American college graduates are unemployable. The answer came in the wake of the question on why HCL, a USD 2.5 billion enterprise with more than 3,000 people across 21 offices in 15 states, wasn't hiring more people in USA.
In order to keep himself updated with the latest technology trends Nayar has embraced new media communication tools similar to today’s youth. A regular on Twitter and You Tube he blogs frequently on management and leadership. He is also one of the founding members of the Asia Gender Parity Group and an active member of the Global Gender Parity Group at the World Economic Forum (WEF).
Thus, much of Nayar’s attention is focused on meeting the challenges of convergence. He says, “HCL’s revenue-sharing approach, and its ongoing efforts to learn from customers and other outsiders as well as from employees, represents an ingrained awareness that the most important insights can come from anywhere — if you know how to recognize and absorb them.”
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