Employees Desire Respect & Appreciation: Narayana Murthy

NR Narayana Murthy, the founder of Infosys, stressed the pivotal role of empowering employees in achieving business success. Alongside Truong Gia Binh, Founder and Executive Chairman of FPT Group, Murthy discussed what truly motivates employees beyond financial incentives.

According to Murthy, money isn't the primary motivator. Instead, he emphasised that employees desire recognition and appreciation for their skills. He highlighted the significance of acknowledging and valuing employees' contributions to foster a motivated and productive workforce.

Murthy also emphasised the importance of generosity within organisations, mentioning that many global business leaders allocate significant shares to junior employees, a practice embraced by Infosys. This approach instills a sense of ownership and motivation among employees to contribute effectively to the company's success.

Additionally, Murthy stressed the responsibility of employees in safeguarding and maximising the company's resources, reflecting his business philosophy of collaborative effort between leaders and employees.

Respect in business was another key theme, with Murthy advocating for clear role delineation and a balance between personal relationships and professional duties. He highlighted how earning respect, rather than mere profitability, has been prioritised at Infosys since its inception, as it translates to profitability and attracts top talent.

Financial prudence was also underscored, with Murthy warning against escalating costs that could diminish profits despite revenue growth. He advised that expenses must be kept lower than earnings.

Murthy attributed his success to a strong commitment to education and an entrepreneurial mindset, emphasising the role of education in overcoming poverty. He noted that entrepreneurial spirit stems from individual desire rather than genetics or family background.

Technology's critical role in socio-economic development was highlighted, with Murthy stressing the perpetual demand for tech products and services. He urged tech companies to provide unique value, maintain high standards, and learn continuously from competitors while emphasizing cost control, job creation, worker welfare, and environmental sustainability.

The discussion also focused on Vietnam's potential for rapid development and the core values driving successful business leadership. Murthy expressed optimism about Vietnam's future, citing its attributes of courage, confidence, hard work, and discipline as key drivers for becoming one of Asia's leading developed countries within the next 20-25 years.

He praised Vietnam's enduring qualities of creativity and resilience, suggesting other nations could learn from them. Murthy lauded FPT and Vietnam for their achievements in the software service industry, predicting even greater success.

In closing, Murthy highlighted the transformative impact of entrepreneurship on socio-economic progress and job creation, reiterating his vision of addressing poverty through business initiatives, and emphasising the essential values of respect, education, and entrepreneurial spirit in fostering growth and prosperity.