A Maverick Ceo Explains How He Persuaded His Team to Leap into the Future by Vineet Nayar

A Maverick CEO Explains How He Persuaded His Team to Leap into the Future by Vineet Nayar

Introduction of HCL Technology Services:

                         HCL Technologies Limited is an Indian multinational IT services company, headquartered in Noida, Uttar Pradesh, India. In the summer of 1976, a group of six engineers, all former employees of Delhi cloth and General Mills, led by Shiv Nadar, started a company that would make personal computers. It is a subsidiary of HCL Enterprise. Originally a research and development division of HCL, it emerged as an independent company in 1991 when HCL ventured into the software services business. The services that are offer by HCL are Information technology consulting, enterprise transformation, remote infrastructure management, engineering and research and development, and business process outsourcing (BPO). The company has offices in 34 countries including the United States, European countries like France and Germany, and Northern Ireland in the United Kingdom. It operates across a number of sectors including aerospace and defense, automotive, consumer electronics, energy and utilities, financial services, government, industrial manufacturing, life sciences and healthcare, media and entertainment, mining and natural resources, public services, retail and consumer, semiconductor, server and storage, telecom, and travel, transportation, logistics, and hospitality. HCL Technologies is on the Forbes Global; 2000 list. It is among the top 20 largest publicly traded companies in India with a market capitalization of $22.1 billion as of May 2015. As of August 2015, the company, along with its subsidiaries, had consolidated revenue of $6.0 billion. This is the successful story of CEO Vineet Nayar HCL technology. Basically it is the company that provides Information Technology services. The HCL Technology Company is located in Delhi. Before the joining of Vineet Nayar the situation of the company is not good enough. The company has hundreds senior manager and 55000 employees. The company revenue were growing by about 30 percent a year, the company was losing market share and mindshare. On the other hand the company competitors were growing 40 to 50 percent rate per year and the Information Technology service company were changing rapidly. The customer of the company does not want to work with them because of undifferentiated service and the company offered discrete service. There customer want long-term partner that provide them end to end service. When I arrived at HCL, in 2005, the chairman, Shiv Nadar, and the board already sensed that the company was heading for trouble. Shiv, HCL's founder and a legendary figure in Indian business, didn't have to be convinced that change was essential. I told him I needed a free hand. "Of course," he said. Shiv never once asked me what my approach might be. That was a good thing, because I didn't know at that stage. Shiv and the board thought carefully about their role during the change process. They wanted the opportunity to discuss issues with me before we made major decisions, but they didn't want to get involved in day-to-day operations. After the joining of Vineet Nayar in 2009 HCL Technologies has change their Business Model due to this they gain triple of it annual revenue, double their market capitalization and make the company ranked India’s best employer by Hewitt. I didn't worry much about the stock market in the early stages of my transformation efforts. What is the point of making promises to analysts and shareholders who have heard it all before? I wanted first to show results and then to explain how we had achieved them. Near the end of the year HCL started to win contracts that would have been out of reach for the company a year before. The first was from Autodesk, in November 2005. In January 2006 we won a large five year contract with the consumer electronics chain DSG International-the largest IT services deal that any Indian company had ever secured. That same yea r HCL closed five outsourcing deals worth a total of$700 million while competing with the world's biggest IT service providers. That's when the buzz began. The Economist wrote: “IBM and the other multinationals are becoming increasingly nervous about the fifth biggest Indian outsourcer, HCL Technologies." Establish the unique management culture through this he call it “Employees first, Customer second (EFCS)”.