Hire employees that fit the DNA of your firm, say experts
dubai — For companies to be successful today, a lot is riding on their ability to hire employees that will prove to be a good fit within their organisations.
Speaking at the Dubai Global Convention 2017, which is organised by the Institute Of Directors, India, experts discussed several ways in which companies can achieve business excellence through their boardrooms.
Raj Chinai, MD of Sobha Group Dubai, noted that a company’s successes are defined by its employees, which makes hiring the right people such a crucial step.
“Find people who fit within your organisation and its very DNA,” he said in a panel discussion. “This is not information that you can immediately see in their degrees, but is something that you must find out for yourself.”
Chinai also spoke about other factors that contribute to the success of an organisation, such as visionary leadership, dedicated employees, and comfortable work culture and engagement. Another way for a company to be successful, he said, is by having a proper system in place that rewards employees with higher ranks within an organisation. “Over 60 per cent of the most successful companies have senior officials on their board that are promoted from within their own organisation, as opposed to hiring senior officials from outside the organisation.”
“Also, be sure to establish a common understanding of culture and the metrics for it,” he added. “Be sure to remain focused on raising the bar through constant innovation and by learning from your competitors.”
Another panelist at the event, Samira Shaloh, MD of quality, strategy, and business development, World Security, Dubai, also spoke about the challenges facing boardrooms today. “Governance versus business decisions, digital transformation, high expectations from shareholders, and compliance with an increasing number of rules and regulations, are all issues that are impacting the boardrooms of today,” she said.
Gone are the days, she said, when board members only had to have meetings about day to day operations within their companies. Instead, they have to contend with a number of different issues that have become important in recent years.
“Strategy and the risks associated with it have to be on the agenda of every board meeting today,” she said. “Also, we all live in an uncertain world; what is present today might not be tomorrow, so companies have to look at succession planning so that there is no danger of any upset when it is time to pass on the leadership of a company. In addition to company vision, meeting should also have discussions on their short-term and long-term goals, and performance reviews across the board.”
When speaking on the various barriers that prevent board members from being effective and efficient members, she pointed to a fear of failure, and a resistance towards innovation. “Establish a practice of developing a business excellence strategy and review the progress that is being towards it at every board meeting. Also, it is a very good idea to have a business excellence paper at each board level.”
Professor Colin Coulson-Thomas, another panelist at the event, said that one of the most unfortunate events that a company can encounter today is innovation and creative thinking happening outside the organisation.
— rohma@khaleejtimes.com