Message from MD – April 2017
01 April 2017
April always brings in a lot of confidence, a lot of expectations, a lot of satisfaction, a lot of enthusiasm and of course a lot of introspection and criticism. In spite of adverse business environment, we were successful for one more year. The growth we achieved in the last FY on both tangible and non-tangible fronts are really amazing. The whole credit goes to all the task masters and their team members. The remarkable performance of the past year was the highest in our history and I bow my head to the Almighty that showered great blessings on the Asset family!
Today’s disruptive business environment demands us to empower our team to be most innovative and productive. To be truly successful, members in an organization not only need quick access to all the relevant information but should also be able to trust it enough to act upon it. This can only be achieved when the organization takes conscious steps towards openness and transparency. The question that emerges at this point is – how can we become more transparent and gain the team trust? Transparency is all about putting all the facts on the table, even when some of them are uncomfortable. It’s about being honest and open about what actions are taken, by whom and on what grounds. It also provides every member with the opportunity to question the existing decisions in the pursuit of making them better. The best companies recognize the benefits of an open work culture and feature numerous examples where they have successfully created transparent, trust-based cultures. The first and foremost aim to be achieved in the next financial year is nothing but this culture.
The impact of a high-trust culture extends far beyond a company’s performance and bottom line, and reaches the heart of what people desire and long for in a work environment, a place where they trust the people they work for, have pride in what they do, and enjoy the people they work with. By making a commitment to build trust in our organization, we are investing in the emotional health and well-being of our colleagues and in the communities in which we live and work. After all, if over a third of our lives are spent at work, our businesses ought to be places that accommodate basic human desires for positive relationships. At high-trust organizations, employees are empowered to make decisions that they believe will serve the customer without undue oversight or bureaucracy.
A recent study shows that attitude is a better predictor of success than intelligence is. And the biggest differentiator between a high-performing individual and others has been identified as a growth mindset. While an attitude change can be driven by various factors, multiple studies have established a strong correlation between attitude and social factors such as peer perception, appreciation, criticism and feedback.
Considering the above factors we are bringing in a new structure – First Circle – an empowered team of twelve, consisting of six monitors and six task masters. The effective identification of tasks, determination of most effective method of execution and smart implementation of the same will definitely reap great results in fixed time frames.
We had drawn our budget and business plan for next FY on 22nd March. We have set our objectives and key results for the year and specific plans to attain the same. All our budget objectives are ambitious and challenging. Key results are measurable and should be easy to grade with a number. OKRs are public so that everyone in the organization can see what others are working on. If someone consistently fully attains their objectives, their OKRs aren’t ambitious enough and they need to think bigger. Low grades should be viewed as data to help refine the next OKRs. In practice, using OKRs is different from other goal-setting techniques because of the aim to set very ambitious goals. When used this way, OKRs can enable teams to focus on the big bets and accomplish more than the team thought was possible, even if they don’t fully attain the stated goal.
Recognition is always a critical driver of high-performance. However, recognition mostly gets paid great lip service. Knowing that their work matters and being personally recognized at the highest levels inspires employees to give their best. Asset Homes recognized five outstanding employees and the best branch for the last financial year. Congratulations to the winners for their amazing and dedicated performance.
Friends, there is a lot more to arrive along with the new financial year. Ours is an organization with stronger values, more supportive leaders, and a culture that allows for more risk-taking and innovation than many other competitive brands. This year I wish all teams and individuals get outside of their comfort zones, prioritize work, and learn from both success and failure, and create a new story in the history of Asset Homes. Wish you all a wonderful and result-oriented new financial year!