Nurturing home grown CEOs is still a far-fetched dream. Here is what we can do about that
As ironic as it may sound, despite having an abundance of people in our pool the local high-end job market in many cases is filled by the expats recently. Is it a comedy of errors like Shakespearian classics? It is a folly created by combined sins of policy implementation and management practice which we have been pursuing over the decades. It is a gap between the market demand and our lack of capability to meet that need. It is a dichotomy.
I am trying to dissect this heart burning gap that creates a hole in our body politic. I am a bit critical to analyses this gap and trying earnestly to find out the real missing link. Why does it happen? Why are we lagging behind even our neighboring countries in this race?
We live in the age of digitization. We are living in a global village. We are far from the race, and we do not have much time to lag behind. The policy of wait and see will lead us more far back.
Let us delve into it.
Through my professional experiences, I have witnessed that even successful entrepreneur sometimes do not know how to pick the right person. Sometimes even headhunters are not well-knowledged about professional talents available in the market.
It is the missing link we are discussing. I must say there are lots of talents in Bangladesh. But we have a mindset or mentality that expats are more professional and fit for the job. To some extent that is right because, regarding professionalism and technical know-hows, they are much better than us. But if our people can learn those things they can catch up very easily and quickly. With that point of view, I must say we have a noteworthy talent pool. Miserably, we are not nurturing and grooming them properly. That is happening due to our narrow mindset, lack of succession plan, and senior management role or leadership plan in companies. There are many large companies which do not have any particular job descriptions or role profile or even the need assessment of the skillsets requiring for specific job or function. They think they will hire someone and he/she can perform automatically. but that’s not the case. Now in and around the organization, it requires multi-skilled people and some of them have to be specialized. Some are thinkers and planners, while some are performers or doers, and some do routine jobs.
Three categories of people are needed in a company. Somebody have to think and strategize the plan. Somebody has to play and score. To succeed, a company needs the right HR mix.
We live in the age of digitization. We are living in a global village. We are far from the race, and we do not have much time to lag behind. The policy of wait and see will lead us backwards.
Strangely enough, almost half of our population are youth; they will be our next leaders, policymakers, and entrepreneurs. So we need to read their minds and prepare our roadmap taking them in the right direction. The youth force is posing an endless opportunity for us. We have to empower our next generation by honoring their unique skills. They are entirely different from the peoples of two decades back. They are not the babies of Stone Age, but of Digital Age. We have to understand what makes them successful or they will be derailed. The millennial generation is very tech savvy. They wanted to find everything at their fingertips. In reality, there is a need of touch and feel otherwise they will be techno based only, and human factor will be missing. Logic is that for leadership there has to be some human aspects or combination of both. We cannot avoid technology, modernization, urbanization, digitation as well as globalization. I am talking about the Internet of Things (IoT). We have to accept these things and apply them strategically.
A lot of companies are copying models instead of strategizing their vision, mission, the requirement as well as; they do not have any value proposition.
Some companies have it only to write in their annual report. But it is not found in their practices. The companies have to live by the brand values. Why are the Multi-National companies ruling over the world? They follow their vision, mission and brand values. Corporate branding, like a human being, has its own DNA. Positive brand culture shapes the future of a corporation. If you go by the traditional culture, your company will not grow after ten years.
The essential factor is to consider the empowerment of netizens. We have to have some time-bound commitment and sincere efforts to develop our skills, e.g., leadership skills, professional skills, managerial skills and thinking skills above all human ability. In most cases, our thinking and leadership skills are missing. We only try to manage things. But the requirement is to improve through a holistic approach. In most of the cases our local companies do not have any Key Performance Index (KPI) and Policy & Processes (P&P) and quality human resources.
Indeed, we have successful CEOs but future CEOs must attain trust and loyalty as a person and should have dynamic and strategic long-term vision. Excitement shall be there, but it should satisfy their work environment; they need to excite people by motivation. There should be performing work environment, respectful employee relation and coexist with diversified people.
It is a globalized world, so we have to set up our mindset as a global manager. You have to share and transfer your thought to other persons and prepare people for implementing your dream. If you are not hiring right people, then they cannot match with your vision. You have to hire right human resources also otherwise will be negative. A company cannot grow with negative people; only passionate performers can shift a company from the conglomerate, which requires a platform to perform, and allows them to play a role rather than giving task oriented unproductive job.
We have to understand what makes them successful or they will be derailed. The millennial generation is very tech savvy. They wanted to find everything at their fingertips. In reality, there is a need of touch and feel otherwise they will be techno based only, and human factor will be missing.
Narrow mindset coupled with lack of knowledge, sycophancy, and nepotism form a vicious cycle. To break it individuals should come forward proactively. If we go through the case study of successful people, then we see that they are patient, timely, vision-oriented, committed, dynamic and modern in thinking level. They are trying to develop themselves every day. Nevertheless, the case is not the same for us. After finishing academic courses, we think that we know everything. But the real learning starts after passing the academic course. We are not trying to upgrade ourselves.
The way forward is that everybody has to develop individually. They have to decide to have a vision, and go there; only then does it becomes a collective vision. The company should understand that besides hiring, it has a responsibility to provide training and development and give proper environment so that those resources can be used in the long run.
Last but not least, we have to be futuristic and shall count what will happen in future. Now the service sector is emerging. In the physical sector, there is an option of copy the products but not the services. In character, services are unique. Any kind of services from tourism to banking everything is unique. It may be tangible or intangible. The road to success is to create a small difference through your service branding.
Finally, it is time to recognize openly and build a relationship through collaborative efforts and inspire the future generation to grab future possibilities and minimize the missing link.
THE WRITER IS an internationally recognized brand marketing professional