MindTree has been one of the most successful IT companies thanks to the simple 95-95-95 principle of communication that it followed. It meant that 95 per cent of the time, 95 per cent of MindTree Minds (employees) will have access to 95 per cent of the information. This became an easy way to communicate, especially to youngsters who joined the organisation just after college, about the company’s openness, transparency and culture, said Krishnakumar Natarajan, Co-founder, Mindtree, and Managing Partner of Mela Venture.
Even after MindTree became a listed entity, the company practised the principle. For instance, board meetings used to get over at 4 pm and the financial results were communicated to the stock exchanges after that. At 4.05 pm, the moment the stock exchanges acknowledged the receipt of the results, all MindTree Minds across the globe would receive a communication on the quarterly performance; what the board appreciated or felt that the company did not do well. This was one of the reflections of the 95-95-95 principle of communication to employees, he said at TieCON Chennai 2020.
There were also some basic principles that were evolved even before the company was launched. One was that none of the blood relations will work in the company, and this was followed throughout, he said. These were elements of both operational anecdote and principle that drove culture building at MindTree, he said in a discussion on ‘The Culture Factor’ with CK Ranganathan, Chairman & Managing Director, CavinKare & President, TiE Chennai.
Culture and strategy are foundational elements and both are important in any organisation. Culture shapes both the attitude, the behaviour and it constantly needs to be reinforced and experienced, said Natarajan.
Simple elements of recognising achievements by employees and referring to them as Mindtree Minds, and showing mutual respect helped in building culture, and an open and transparent organisation.
In fact, even after 15 years of inception, the company has hardly lost 4-5 per cent of the first 400-500 employees who were there since inception at a time when the attrition rate in the industry was nearly 20 per cent. “One of the abilities by which you will retain knowledge workers is your ability to engage them in conversation and make them feel that they are a part of evolving solutions,” he said.
The five-day online event, TiECON Chennai 2020, which ended today saw over 1,000 delegates from across the globe participating. The event was centered on the theme ‘Discover New Horizons’.
This year’s special edition of TiE Chennai PitchFest finale had five start-ups sharing their innovative solutions for combating the Covid-19 crisis and its impact. Among the five start-ups, FIB-SOL Life Technologies emerged as the winner of TiE Chennai PitchFest 2020, said a press release.