Name: Genpact CEO On Leadership in the New Decade: If You’re Curious, You’ll Succeed
Uploaded: 2020-01-03
Duration: 6 min 4 s
Description: Genpact predicts that CEOs that embrace learning and continuous curiosity will be the winners in the 2020s.

Tiger, 2020 is almost here. And that means we're also going into a new decade. So let's talk about one of the key issues for the decade ahead. We know that technology had a transformative impact for the past decade, whether you're talking about AI or machine learning, you know, stuff like that. How will technology shape the next 10 years and what do companies have to do to get ahead of the curve and not be left behind? It's only the beginning. It's not even touched the tip of the iceberg. The next ten years could just be a real scaling up of the previous ten years with all the lessons learned of the previous ten years. And then it'll deliver more value right now. On the face of it, I think if you do the math, it may not have delivered all the promise that it has had. But why is that a surprise? Because it's only been 10 years. How do companies get ahead of all of this? Because there is still a fearfulness about changing and new technology. No there is and it starts with Have you learned lessons from the past ten years? one lesson, for example is what problems do you want to solve using technology? The danger in the world of hype is that people just bring in let's take AI machine learning, for example. And say, AI machine learning is going to solve all problems. So it starts with problem. Big enough to solve, worthy enough to solve, impactful enough for me, for the client, for competition. And two, what are the changes you want to do to solve it? It may not be the solution. Maybe it is just changing the process. Maybe it has leveraged it or better, and so on. So I think going about it that way, learning lessons and doing that, focusing on outcomes other than cost, We'll deliver more value we hear so much about the importance of the piece of change the urgency to change our companies set up to implement change fast enough simple answer is no if you were to ask me what the single most important characteristic that's become incredibly important in today's world. It is speed. And speed doesn't mean perfection. Speed actually mean sit okay to make mistakes as long as you can iterate your way through. They aid our way of learning and feedback looping. So that's one thing that all companies are learning, How to become more speedy both as an enterprise and as individuals. let's talk a little bit about training workers because I know this is an area that you really focus on everybody's talking about job training and re skilling up how critical is this developing the work force for the future Suzzy the training of people and re skilling of people is Incredibly important. For the workforce of the future, it starts with so you understand that you have to learn rapidly again and again. That itself requires a rethinking of the way I think about my life. I'm going to spend a certain number of hours a week, a month, learning. I have to train myself to do that, I have to get into the habit of doing that that itself is a big thing. So one of the things we are doing inside the company is we just implemented a brand new platform that actually measures people on how much they. Apply themselves to self training. We give them content that is 10 minute bite sized training. We don't think training anymore is classroom. In the future. People will be trained by video bite sized training that is 10, 15 minutes. So do we need a different breed of CEOs to lead us into this New Era move. What are the characteristics going to be for the successful leaders of the future. Curiosity is clearly one of the key characteristics that I think CEOs should have a leader should have to lead us into this future. They have to embrace the new. They have to be risk taking. So they have to be courageous. They have to be okay making mistakes. Gone are the days when CEOs have all the answers, or businesses have all the answers. You gotta try. And the only way you learn is by trying. So experimentation is the way you'll grow. Start- ups do that very well. Tech companies do that very well. But everyone is gonna become a tech company, so you gotta experiment. And then you gotta be inclusive. I mean, it comes back again to include people on the journey rather assume that you know the answers. So what kind of companies will succeed in this new world? What's gonna separate the winners from the losers? Culture will be the single biggest separator of the winners from the losers. What's the culture of the company? And the culture of the company has to In corporate, curiosity has to incorporate risk taking ability, has to incorporate no fear of failure, has to incorporate learning coming from failure. And actually rewarding failure in a very strange way. And then saying, all that matters is trying, learning, and moving on. I love Satire Dela statement saying, we are a learning company. Rather than a know it all company. We are big believers in that we think every company has to become like that. That requires a very different set of skills much more humble. humbleness is going to be way more important than saying I know it and I'm really arrogant. To very different leader. Tiger, your clients are mostly Fortune 500 companies. Yeah. So what's the key piece of advice that you tell your clients on how they should reinvent their businesses for the next decade? You should find a way to be the driver of change, rather than the receiver of change. Which means if you think Some of the change you're gonna drive is gonna destroy your own business do it because otherwise someone else will. It's one of the fundamental things that disruptors do. But you can disrupt yourself so disrupt yourself to therefore embrace new things and make your people do it. And three, if some people are not playing your game and the leadership team, change the leaders It will get too late otherwise. Hopefully the leader that you're talking to is someone who believes in it, embodies it, and can drive it. Otherwise actually you're in trouble, or the client is in trouble. But that's what we do. [ BLANK_AUDIO ]

Genpact CEO On Leadership in the New Decade: If You’re Curious, You’ll Succeed

Leadership

Genpact CEO On Leadership in the New Decade

Genpact predicts that CEOs that embrace learning and continuous curiosity will be the winners in the 2020s.