Organization- The way to go

Recommendations for improvement which will lead to increased productivity

1. Processes: We need to have processes but need to clarify the reasons for setting them up. Transparency is the key to bring about equilibrium.


2. Sales: Emphasis on education and learning. Marketing tools should be used to engage and something that allows access. Relationship managers need to be more disciplined. Their jobs should not hinge only on events and humoring distributor partners. While all that is important and one is not recommending to do away with them, it is important for relationship managers to enhance their knowledge so that they can improve the quality of interaction with distributor partners. It is imperative for them to realize that they cannot succeed only on the basis of the key parameters of the products that they sell. They need to reposition themselves as consultants in order to get more respect from their key stakeholders. However for that to happen the organization should provide the best technology available such as eISC, Laptops, Blackberry, Internet, wireless surfing, etc. The point should not be about whether they deserve the technology. If they have been hired they are well worth it.
   
3. Fund Management: The fund managers should carve out a extended role for themselves. Nobody can get the calls right all the time. The business is about talent and correct calls. But it is also about sentiments of the investors and here FM can play an active role in assuaging their fears. Hence there is a dire need for fund managers to communicate actively with stakeholders. While rational results hold the key, perceptions too play a significant role in our business.People want to hear from the fund manager and want to know that he is on the job and what steps he is planning to take in the medium to long term.
   
4. Services: We simply need to best in class. Internet and mobile are the platforms that will shape our future. And we need to understand their potential. Most MF investors and especially the ones with the capacity to invest are net and mobile savvy. And this is only going to grow in the future. Hence we need to be present in this space in a very active manner. We need to have all the tools that are available such as online investing and also need to promote it actively, mobile investing, checking account statement online and so on and so forth. Data management /de-duping /data mining/ data analytics should be explored and exploited strategically using the best of consultants and tools available in the market.
5. HR- People should feel comfortable. They should be made to feel important and useful. New processes that have been set should be explained. All HR related facilities should be transparent and should be clearly put down in a manual. All perks should be clarified for the employees through the manual. There should be better canteen facilities. Employees should be forced to take leave during the year as is done in most banks. It sends a signal that the management cares. It also tests the company processes and brings comfort for the management that work does not suffer in the absence of an employee. Increments and bonuses should be always disbursed on time and should be clearly linked to performance. Career path planning can be improved. Some amount of job rotation should be built in. People should be made to enjoy their jobs. There should plenty of informal gathering which will bring people closer. All departments should be given an entertainment budget for their people. This should be independent of programs designed for the entire organization. There should be more empowerment and accountability. Hence quality MIS systems should be designed to reflect this.
   
6. Overall positioning:
   We should be seen to be an organization which is trustworthy and follows a path which is safe for the investor.We should be proud about our strategy and spell it our clearly to all our stakeholders.
   Our emphasis on risk management should be well communicated and we should not hesitate to say that we are not chasing returns at any cost. If we are taking steps for the well being of the investor for which returns will get compromised, we should make it clear and communicate the same actively and be proud of our positioning.
   We should also emphasise on learning and training. Our stakeholders need to view us as the most learned organization. We should package all our products extremely well and should not cut corners here. We need to understand that well packaged products be it educational tools, training, website, POP material, advertising, communication play a very important role in shaping the perceptions of people at large. Hence while we manage the details so that all our product deliveries are consistent and of high quality, we need to also understand that sentiments and perceptions are key business drivers. Hence both micros and macros have to be managed with dexterity.