Financial Times - Be revolutionary – think “out of the box”

To be revolutionary may sound a bit alarming considering the global events of today, however it is a key factor for the Sri Lankan executive for career progression in Sri Lankan corporate organisations today.

This was the overview of a presentation given by Ramal Jasinghe, CEO of Asian Alliance Insurance at the monthly meeting of the Sunday Times Business Club last week.

The challenge to be equipped with the relevant skills to meet the changes taking place in corporate organizations of Sri Lanka is a vital factor for the Sri Lankan executive. According to statistics released by the Central Bank for 2005, the number of employed persons in Sri Lanka amounted to 7,518 million persons.

The private sector employed 85% of the total persons employed, thus showing the significant impact the private sector plays in the economic backdrop of Sri Lanka.
Job security remains the main concern of a majority of Sri Lankans, which is evident by the negative growth in the personal services segment where such services are provided by individuals.

“The culture shift in employment from the private sector to the public sector is of serious concern to the private sector which needs serious attention” said Jasinghe, a veteran in the field of marketing with over 20 years of experience and having held senior positions in companies such as Union Assurance and Union Carbide, has extensive knowledge and experience in marketing and managing organisations.

Corporate organisations place emphasis on performance, a key factor for the growth of the organisation.

Given this emphasis, organizations require skilled executives to be the driving force of growth for the organisation. “Sri Lanka has an abundance of academically qualified individuals; however most of them do not find suitable employment due to a lack of industrial training in most cases,” he said. Responding to a question from an interested audience as to who should be responsible for changing the mindset of people, Jasinghe said that it is the private sector that has to play a vital role in this aspect. “How serious are we in providing industrial training for qualified people in preparing them to meet the challenges of the private sector,” he queried, engaging the audience in an active discussion.

Organisations today have a need to employ executives who are able to meet the changing needs and challenges of the organisation. At the same time they would need to be multi disciplined or specialised.

This indeed is a challenge for the executive to achieve as much as it is for the organization to identify such executive talent. Corporate organizations today are looking to be in business for the long term, to seek market leadership and to become the most profitable in the segment. In addition the need either to be a local or regional conglomerate, to be a focused niche player and to be something for everyone creates an ever challenging environment which needs to be delivered by employees.

Jasinghe, who built his career in the Industrial and Technical fields of production and marketing and later migrated to the financial services sector, shared some of his personal experiences with the members of the club. Speaking further he also outlined the type of employees that are needed to be a part of today’s corporate organisations, as delivering profits to shareholders is a key objective of the board of directors in corporate organizations. “Employees need to be specialised or multi disciplined, be trained professionals who are persons that are very skilled in a particular activity, these are some important requirements” he said.

Responding to another question raised by the audience related to the increased usage of technology, mainly in terms of usage of email in organizations and the impact of it on HR relations, Jasinghe said that “while technology has its advantages, we must not forget the importance of physical interaction in employee relations. It is a must.”

Jasinghe also outlined key contributory success factors for the Sri Lankan executive - The “3 R approach”. The 3 R approach represents Relevance, Resilience and being Revolutionary.

Relevance ensures that your skills are never outdated. Continuous training and development in own and fresh skills by learning, practice, acquisition through education and upgrading of your skills is essential for the progress of an executive. “You need to ensure that your skills are needed and key to the organisation at all times.

Be equipped to switch your career if the need arises,” he said.The need to be resilient is another factor for the executive as “Winds of change is a certainty”, be it in a developed, developing or under developed economy. Business models and philosophies within an organisation could change and so would the working environment. Employees need to be resilient to these changes and thrive within the organisation, or seek and you will find your fortunes and comforts elsewhere.

Presenting some of his own experiences, he said that “One should not take perseverance too far, as you may thrive and progress within a different organisation, where you could contribute effectively”.

Being a revolutionary person himself, the need to always look for new and better ways to break routine, generating new ideas all the time and ensuring quality and efficiency in all you do and doing it well, will make you enjoy continuous success. Concludng his presentation to the members of the club, his message was to be Be Revolutionary – Think and Work “Out of the box!”

The meeting was held at the Trans Asia Hotel, the host of the club, and was co-sponsored by Lion Brewery Ltd.