Leadership is not taught in any school or institution. Leaders are made — with the necessary skills over the course of their lives.
But who is a good leader?
Warren Bennis states, “Leadership is the capacity to translate vision into reality.” Therefore, a good leader creates a vision for his startup and aligns and motivates people toward achieving that vision.
However, building a startup and leading a team of people can be challenging in a startup environment, especially during the initial phase. Leadership in a startup involves having an in-depth understanding of the business, coming up with strategies and innovations to solve the business problems, and developing a culture where employees flourish.
For this article on Entrepreneurship 101, we focus on fostering leadership in the workplace and becoming the best role model for one’s team.
Who is a good leader?
YourStory asked startup founders to list some of the qualities of a good leader. Here is what they had to say:
A good leader is essentially a team player. They treat their employees with respect, irrespective of their designation and social status, and value what they bring to the table.
While bringing their own expertise to the table, a good leader is aware of their limitations. Thus, instead of wanting to do it all by themselves, they work with their employees as a team and let the subject experts take over.
A leader must be able to differentiate between the long-term and short-term goals and gains. They should focus on creating brand values that would eventually help them stay on track, acquire, and retain more customers.
A good leader must be able to maintain a “Balance between long-term and short-term goals…They focus on expanding and scaling, rather than focusing on immediate funding, generating an early exit option, and pursuing immediate advantages,” says Kamalika Bhattacharya, Co-founder and CEO of SaaS startup QuoDeck.
Companies across the world rely on a complete suite of business activities and processes that go into creating a product or providing a service. Commonly referred to as Value Chains, these multiple stages in a product or service offering increasingly determine an enterprise’s efficiency, profit, and success. However, any Value Chain can only be as effective as the people behind it.
Though the world of business was already on the cusp of change in terms of technology and digitization, the pandemic changed the way businesses thought, by placing the workforce in the ‘driver’s seat of a company’s growth. It was no longer about where people worked, or how many hours they put in; instead, it was about taking ownership and delivering results in the absence of structured workplaces. And the fact was, it took motivated employees and value chains to do this well, leading to a virtuous cycle of productivity and loyalty leading to customer retention and market growth for businesses.
With the pandemic slowing, but the new ways of working here to stay, companies are being pushed to adopt technologies and platforms faster to support this way of working. We’ve compiled 5 apps and platforms that can help companies get the best from their value chains in today’s world:
1. Digital Training and Enablement (QuoDeck) –
QuoDeck is a SaaS Digital Learning and Engagement Platform that enables organizations to use interactivity and games to engage their employees, value chain, and gig workforces.
QuoDeck caters to the growing need for organizations to drive last-mile performance improvement through a better understanding of products, services, processes, and sales & customer service approaches. The platform creates pull through the use of games and gamification mechanics, driving higher adoption and retention, and delivering market-beating performance improvement outcomes for organizations. Furthermore, by using interactivity and games, QuoDeck helps capture valuable data in real-time, and analyze it through big data analytical tools.
QuoDeck offers a complete digital engagement suite, called the QuoDeck Interactive Cloud that promises engagement, speed, mobility, regionalization, data, and security. Today, QuoDeck is the market leader in its category, catering to over 5 million users across Fortune 500 clients.
2. Employee Financial Wellness (Valyu) – Valyu secures the employee’s financial wellness through its tailored financial products and services. It builds literacy around better personal finance practices and takes care of all unexpected financial crises, celebrations, and smart savings.
Valyu.AI is a fintech startup committed to innovation and financial wellness that partners with companies to enhance their employer brand. Valyu offers a suite of financial services & products on social inclusion and financial wellness for all employees across the board. The company has set out to reduce employee financial stress by providing employers with a holistic approach that addresses financial well-being issues at its core. Their financial wellness programs have changed lives, and improved staff retention and productivity by providing enterprises with a holistic approach that addresses financial wellbeing issues at its core.
Founded in 2020, The company leverages AI and Machine Learning to develop advanced salary solutions that can help companies alleviate their employees’ financial concerns by giving them early access to their earnings and establishing a financial care framework.
3. Employee Gifting (IGP for Business) IGP for Business is India’s 1st Gift tech Company and is a one-stop destination and partner for enterprise rewards and loyalty solutions. With a fully automated, high-tech gift tech platform, IGP for Business empowers companies to leverage gifting as a growth driver. IGP for Business offers a robust Digital platform for enterprises to manage the Rewards & Incentive Programs for their employees, channel partners & customers. You get access to India’s widest multi-category reward catalog across personalized and perishable merchandise options, as well as 100+ e-gift cards.
Employee Gifting is important because it helps build engagement and overall loyalty by creating an experience that sparks an emotional connection, strengthening the employee’s relationship with the company. With IGP for Business Platform, enterprises can celebrate their employees’ birthdays, anniversaries, and special occasions by uploading a bulk order through a customized dashboard. IGP for Business does the rest. The company ensures your pre-selected gift reaches your employee’s office or home, wherever they may be. What’s more, they ensure it reaches a pre-designated time, and the proof of delivery with the timestamp is updated in real-time on your dashboard. Invoicing gets digitized as well. If you are an enterprise that runs Loyalty Programs, Channel Incentive Programs, or Employee R&R programs, in that case, IGP for Business can power your entire rewards catalog across Merchandise as well as Gifts Vouchers.
4. Employee Benefits program (Advantage Club) –
Advantage Club was founded to define employee benefits beyond just provident funds and corporate discounts beyond just dining. It has grown into a platform through which corporates can engage more meaningfully with their clients. Advantage clubs aid employees with rewards and recognition, early wage access, perks, and other products in order to increase employee engagement within the firm.
Launched in 2016, Advantage Club runs a corporate discount platform and an end-to-end reward and recognition solution. When corporates enroll with Advantage Club, they get access to exclusive offers from over 10000 brands, including Samsung, Faasos, PNB Housing, Myntra, and Apollo Pharmacy, among others.
With over 370 corporate clients, including giants like Concentrix, EY, Technotree, DXC, Maruti Suzuki, Punjab National bank, and Mphasis, Advantage Club is leading the $10 billion market in SE Asia.
5. Corporate Wellness (HealthifyMe) –
HealthifyMe offers corporate wellness programs to enterprises to improve employee health & engagement. Employees have witnessed a 50% increase in physical activities and a 59% increase in engagement. The programs are based on a gamified app that includes a leader board, teams, and tasks & objectives and is tailored according to employee needs.
HealthifyMe is an Indian digital health and wellness platform headquartered in Bangalore that provides services such as calorie tracking, one-on-one nutrition and fitness coaching, and diet and workout plans. It was founded in 2012 by Tushar Vashisht, Sachin Shenoy, and Mathew Cherian.