Bangalore based e2e People Practices is a HR consultancy firm which emphasises on the need for good HR practices for profitability. In an exclusive interview with SupportBiz.com, Yeshasvini Ramaswamy, managing director, e2e People Practices shares her views on the status of HR practices among SMEs.
“It is unfortunate that some entrepreneurs underrate the potential of HR best practices. They must understand that long term sustainability is essential for any growing business,” says Ramaswamy. Edited excerpts:
What inspired you to start your own venture?
It was an experiment, when I incepted this company. Basically I wanted to explore the potential of HR practices in the growth of businesses. We have developed some innovative means of nurturing leadership skills among the top management and middle level management and motivational tools for employees. It was realised that best practices would help business achieve results, hence, the company was formed.
There are several HR firms. What is your USP?
Apart from regular leadership-enhancement training sessions, and employee motivation sessions, we have designed an innovative methodology for leadership audit.
In the leadership audit, we monitor the employee’s maturity levels. We also undertake benchmarking studies for entrepreneurs and we nurture leadership capabilities. We hand hold the entrepreneur as well as the employee in the journey, of becoming more influential, efficient and matured towards work. This model impacts the company significantly and then people realise the potential of HR for their business.
What challenges do SMEs facing with regard to HR management?
HR practices and policies can impact the company’s profitability directly. Contribution of HR in the company’s growth must be highlighted.
CEOs and entrepreneurs must acknowledge the potential of empowering and motivating employees. They must have a clear roadmap for building capabilities in this direction. There has to be a procedure around nurturing leadership qualities among employees.
We have witnessed that SMEs often tend to ignore this potential and face challenges in meeting growth. SMEs usually focus on product development and new customer acquisitions. HR then becomes a low priority area for them. Very few entrepreneurs think about HR when they would like to hire new people. This perception must be changed.
What is needed in the industry in order to bring a mind-set change?
Proper awareness towards the subject can make an impact on the market. Ultimately, willingness has to come from the top boss, or the key decision maker. The trend is moving in the right direction but a lot of action is required.
Within HR practices, which components should SMEs handle with care?
Employee motivation is very important. The work culture of the company has to be taken care. The entrepreneur must keep his / her eye on the appraisal system. Hiring strategy and employee engagement practices should also be worked upon.
What is the ideal roadmap for entrepreneur’s personal growth in the business?
It is very important to have an eye on growth. The entrepreneur must look at growth for himself, apart from just making more profits. Entrepreneurs should aspire to become a mentor. The entrepreneur must think about his future in terms of building such a strong legacy in professional life that a talented and deserving employee can take up the leadership role to drive the business, allowing an entrepreneur to graduate to the level of mentorship.