Save Your Internal Customer: Save Your Business – You’re Organisation

Real Estate Industry the second largest employment generator (both directly and indirectly) is facing a tremendous slowdown because of a lack of demand and liquidity crisis.

Developers who are trapped in the debt cycle are staring at closure.

Large scale layoff and salary cuts in real estate are visible across the cross-section of the industry.

While it is scary to think about the industry as a whole my thoughts are directed towards the midlevel employee today.

{I SALUTE MANAGEMENT OF ORGANISATIONS LIKE ASIAN PAINTS, HINDUSTAN UNILEVER, DLF, MOTILAL OSWAL and others who have not laid of any employee, on the contrary, have given increments to the ones who performed and also handed over bonuses per their commitment during these tiring times of corona pandemic}

It is so frustrating to pick up the newspaper in the morning and see organization laying off employees, cutting salaries, and painting a grim situation on account of the economic recession we are facing as an outcome of the corona pandemic. There are misery and stress in the middle class like never before and if this cycle of layoff and salary cut continues then it is not only the middle class that will be affected but the businesses at large will face closures as there will be no demand as people will spend only on essentials to survive.

We keep pleading to the govt for fiscal stimulus to save the industry save the economy by providing a policy framework that would fuel the demand on one hand and the other hand we are firing employees cutting salaries on the other hand. How will we be able to generate demand from people who have lost their jobs or who are taking reduced salaries home? They will struggle to survive to forget them going out and buying white goods or automobiles and of course not a capital expensive product like a HOME for sure.

The Capitalist – The Business Owners – The Decision Makers surely need to control cost at the moment but must revisit their action of terminating employees or cutting salaries of a certain section who are any which ways working on a hand to mouth situation. These acts will not only put their survival at risk but also will damage the fabric of the organization.

WHAT SHOULD THE ORGANISATIONS DO ..???

SAVE THE INTERNAL CUSTOMER

No organization can survive if the customer is dissatisfied either with the product or the service offered. The customer relationship department in all industries is pampered and trained to deal with the customer in all good and bad times. The CRM department is responsible for collection from the product or service tendered, for handling grievances and also for communicating. The organization pays special attention to keep the customer experience at its best so that the customer becomes brand loyal and revisits to fulfil his product service requirement in the future as well.

While the organization is so focused on EXTERNAL CUSTOMER the organization must remember to keep the INTERNAL CUSTOMER – THE EMPLOYEE happy and satisfied. The organization must take responsibility for the well-being of the employee in all GOOD & BAD times.

INTERNAL CUSTOMER – THE EMPLOYEE

The organization is nothing but the employees working in it. The team makes the organization the business. The power of employees must not be underestimated – the employee as a team can sail through the most difficult times. The HR team under the guidance of the Chairman, or the business head, or CEO of the organization must ensure that in tough times like today (Corona Health Crisis & Economic Crisis) steps forward and COUNSELS the employee and males him a part of the troubleshooting exercise. The HR should discuss and understand the minimum requirement of the employee and make a collaborative agreement that can help the employee sustain himself and his family and also does not risk the existence of the organization.

Your employee is your best bet in these tough times. He has an emotional bond with the organization, he understands the nitty-gritty and he also has a sense of ownership. He can contribute not only by agreeing to a salary cut but also by sharing ways and means to cut costs and work extra hours to generate new business. the cost of hiring a new employee and then training and bringing him to a productive level is much higher when compared to retaining the existing.

TRUST YOUR INTERNAL CUSTOMER – HAVE EMOTION – EMPATHY & COMPASSION IN THESE TIMES.

HE WILL LAY DOWN HIS LIFE FOR YOU FOR THE ORGANISATION.

REAL ESTATE INDUSTRY IS IN TROUBLE …. WAY FORWARD??? 

MY SUGGESTIONS: – 

1.   COLLABORATIVE PARTNERSHIPS 

2.   OUTSOURCING 

3.   CONSOLIDATION. 

These are some of the ideas. I will write on this separately 

Wait to read in my next blog.