That India is emulating the global trend of self-employment is evident from the various startups mushrooming all over the country across a myriad of sectors. It is not the sloth of striving for someone else or the desire for a better work-life balance or more income that is driving the younger generation towards such risk-taking ventures that come with no guarantee of success. On the contrary, they end up putting in more work hours and earning less on an average. So, what exactly is the thing that’s drawing them away from the perks and prestige that accompany a traditional job and making them chart their own pathway? It’s the freedom to take decisions, flexibility to operate at one’s own pace, liberty to be creative and, above all, pursuit of true fulfillment that make up the causes for such a leap. Sounds fair, isn’t it?
If one pays closer heed, it’s the message being conveyed to the organizations that they must decipher. There is an immense scope for a mutual exchange: If all the things that the aspiring entrepreneurs pursue are provided to them by bringing in challenging roles with a fair share of recognition and reward the organizations can harness the entrepreneurial passion, talent, and disruptive innovation that can fuel the company’s growth and help take it to the next level.
Organizations must start offering their workforce a sense of purpose with adequate autonomy to execute the tasks assigned to them with minimal intervention, providing them a guide in case they need any assistance. This would instill in them a sense of owning their failures, which would have otherwise been swept under the proverbial rug. Similarly, this would offer them the right to claim their success. The process leads to a win-win situation with the employees being able to unleash their creativity with no restraint and the companies breeding a more responsible and creative workforce.
Companies should strive to create a positive culture that can get its people enthused to face challenges head on and turn them into opportunities. Their efforts must then be acknowledged with rewards such as partnership in projects, in addition to a bonus at the end of the year based on the project goals and their performance evaluation.
Such practices will hugely benefit companies that otherwise are plagued with issues of employee retention and happiness quotient. Tangible results will soon surface as a result of people getting inflicted with the spirit of entrepreneurship in the process.
Organizations that were earlier struggling to engage quality workforce will soon be brimming over with ‘doers’ ‘chasing their dream’. By helping employees be the best versions of themselves, companies can unlock their highest potential, thereby achieving their highest goals.
T K Ramesh
Whole time Director and CEO
Micromatic Machine Tools Pvt Ltd