retail | IST

Marico Chairman Harsh Mariwala on success mantra and leadership learnings in COVID times

Mini

Talking about leadership learning from the current COVID situation, Marico's Harsh Mariwala said all this has brought us much closer to our members. On the business front, we have to give a fair picture of where the business is headed because there is lot of anxiety on whether their jobs will be there, whether there would be salary cuts. So, it is very important to be authentic and empathetic with your own employees and that is the big leadership learning for all of us, he added.

Harsh Mariwala, founder & Chairman of Marico, in conversation with CNBC-TV18 shared his success mantra and learnings over the past many years of his journey in building the company.
The world in the past couple of years has changed and COVID pandemic situation has been difficult for most companies. Mariwala also talks about how doing business in these coronavirus times have changed and transformed.
He said there are two ways of looking at the COVID-19 situation, first is the negative side, which all of us are fully aware of that is health, death, suffering from the infection for long period of time and the second is positive long-term benefits of COVID, which we must reckon to deal with.
“These positives are how you look at all the stakeholders and not just your shareholders. When I talk about stakeholders I refer to your own employees, your customers, associates and finally, the society,” said Mariwala, adding that organisations have realised that it pays to look at all the stakeholders and not just the shareholders.
“There is a different way of looking at your own members and that different way has to take into account the anxiety and stress they are going through and how do you mitigate that. The boredom which they and their families are facing at home. How organisations cope up with this is a big challenge to the senior leadership team,” he said.
Talking about Marico’s experience, he said, "We have gone overboard with communication- we have monthly ‘town hall’ meetings virtually, we have virtually everyday something or other to keep the family members engaged. It is a great opportunity for the organisation to know the family members."
“So, whether it is a hobby we are promoting or exercise or diets or art classes, we try and involve all the members in this journey. We also have lot of contests,” he said.
Talking about leadership learning from the current situation, Mariwala said all this has brought the company much closer to its members. "On the business front, we have to give a fair picture of where the business is headed because there is lot of anxiety on whether their jobs will be there, whether there would be salary cuts." He added it is very important to be authentic and empathetic with ones' own employees and that is the big leadership learning for everyone.
For the entire conversation, watch the accompanying video.
 
next story

Market Movers

Currency

CompanyPriceChng%Chng