In one of my seminar on Global Financial Crisis, the speaker emphasize how the greediness associated to raise the fund leads to such a disaster, that brings recession in the world economy. Professionals from BFSI go for sub-prime and lead to ninja error. Sub-prime, is condition when the financial institutions giving Loan or debt to the people without checking there financial stability in near future. Such practices fascinates the company for a while, say it is more visible, and company considered it as profit ignoring the long term affect of the same, which lead to fatal. Some of the name I would like to mention at this moment are Lehman's Brothers, Marilyn, Morgan Stanley, JP Morgan, Fannie Mae, Freddie Mac and AIG.
Similarly, talk about the hospitality industry, which is known for its highest employee turnover ratio i.e up to 52%... always emphasize and concentrate on sale though at the same moment they talk about Personalized Customer Service too. This oxymoron I explained in an article “Professionalism in Hospitality” hosted on this blog only.




Today we working with a well structured system, where there are Appraisals by your immediate Boss, and feedback from your customer/client which decides the potential of your performance. Talking about Employee Appraisals the immediate senior i.e. Boss is now not only limited to the productivity of yours, but also check social factors, like how you make your boss happy, are you in good list of your colleagues, what other employee give feedback of yours, else you able to take into confidence to those who are near to your boss. Many time in my career I find that though there was severe mistake taken place by the employee, but just because of good terms with boss, that person wont become victim, and on other hand if a employee wont maintain a good terms with his boss, he become victim for a pity mistake. Discussing such hidden factor is an effort to bring forward which are the actual reasons of increase rate of employee turnover and thus loss to company followed by loss in economy… Check the root of errors, rather blaming each others…
Now moving towards Customer Feedback, Organizations like Educational institution, take feedback from the students, but never discussed with the Faculty openly in most of the institutions. Communication Gap is the only tool of Control with People who acquire high positions because of good lobby, rather repot… The same I discussed earlier in one of my topic “Communication Gap – the Most Vulnerable Threat for the System” hosted on www.soundofzeal.blogspot.com .
Today, once a employee enter into the Organization, his first motive seems to become a part of a lobby and working out for its longevity in the company. And for longevity its essential to take care of your boss for Appraisal and hiding negative feedback of yours and rectifying it at very initial stage. I emphasize again, its very important to incorporate and independent audit committee for employee performance appraisals. This will bring forward the junks out from the system. Why to entertain them… May be this is another root cause of mal-practiced system… Why to encourage them???
While working in hospitality education institutions I find faculties and directors are more into intimating the conventional teaching rather introducing the new theories and best practices… Its not a blame… it’s a real life experience… I know I am not specifying the name, but it is something going on… Working on old system without change brings the comfort zone to the system… Why to encourage Comfort Zone with-in the working atmosphere???? Introducing new system, new concepts, applied teaching will not only overhaul the junked professionals but also helps to widen the horizon for the students… Think about those students whose morale went down in very first year of learning the hotel management, just because of things conveyed by the instructors… Why not to change the way we see the things and conveyed to others????
Choosing the topic “ Is it your Motive or Vision” is an effort to make the people understand on what we are emphasizing not necessary helping the system to improve rather to improve ourselves… make a vision to bring a change…
Finally, its an plea to all to recognize those with-in your company who wants some change… who work for the long lasting results, rather just giving a profit…
Use wisdom, not every time talk likes an Intellectual!!!
Vikas.
ReplyDeleteIt is important to bring the change that you talk about. I would think it is more important to bring that change by being in the system.
Let me know if you would want to constitute a team that should look into and suggest changes in the Hotel Education curricula!
Best Regards.
sir,
ReplyDeletei feel this thght of urs is vry much required to be implimented into evry organisation.ignorance wil nvr take the system anywhre.it wil rwther jst stagnate.indeed a vry adorable & appreciable iniciative it is.hope it goes a long way!!
keep goin wid d gud wrk!!