Rajkumar Goel, MD of SLR Metaliks travels to the plant at least twice a month as he is the promoter.
SLR Metaliks's business operates through their plant in Hospet (Karnataka) ever since there has been an ease on travel.
Rajkumar Goel, MD of SLR Metaliks travels to the plant at least twice a month as he is the promoter.
He told ET Panache, "I feel it is my responsibility to take the lead as it would also motivate my staff and instill confidence in them. When I am not travelling to the plant I work out of our corporate office in Gurgaon."
These recent times have been uncertain, therefore Goel, too, had his apprehensions initially when he first came back to work after the lockdown.
"But life now seems to be getting back to normal. I think it’s a great start to see some enthusiasm around and meeting my employees was a great start," he said.
The company ensured that all necessary measures were in place at their office and manufacturing plant.
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"We have sanitiser dispensers all over the premises. We ensure thermal temperatures are taken for each and every one before entering the office premises. We are also providing for company transport to help our staff commute. We have also ensured our staff has their masks at each time as a precautionary measure. The house-keeping is instructed to mop, sanitise and clean each floor including work stations, doors knobs, windows, bathrooms every hour etc," he said.
Mentally, it has been challenging to think of it all and still behave normal. "I also felt it was important for me to stay both motivated and focussed as business had to resume at some point. Also safety of my people is my utmost priority at the moment. We are also hopeful we will emerge stronger than ever after this," Goel said.
Challenges that his company had to face are restricted movement and social alienation which they were initially not used to.
"Meetings have gone virtual or telephonic and we all are coming around to the idea of it. We have about 1000 employees and 1500 contract labourers working in our plant while basic office managerial staff operates from our head office in Gurgaon. Our work timings are currently 10 am to 5 pm," he shared.
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Goel's only advice to fellow bosses is to watch out for people and self. "Restrict social engagements and follow basic guidelines given by the authorities to keep yourself and those around you safe," he said.
Goel was nothing short of excited getting back to work. "Seeing my staff hale and hearty, their enthusiasm for work has been phenomenal despite the times. It's my team that has kept me going so far," he ended.
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Words Of Wisdom From CEO: Tips On Business Survival During Covid-19 Pandemic
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Whether the pandemic ends within a month or two or stretches into the long-term, business owners need to be ready to adapt and make changes to their business strategy in order to weather the storm and beyond. Here are a few tips to start implementing and planning form the CEOs.
Whether the pandemic ends within a month or two or stretches into the long-term, business owners need to be ready to adapt and make changes to their business strategy in order to weather the storm an..
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- Drive Innovation in every aspect of the business
- Absorb and accept technology in your organization to take your product to the customers
- Take initiative and bring smarter consumer propositions to take care of worries of a consumer while buying property
- Reskill your teams for the new scenarios
- Mitigate risk and judicious cash management. Most importantly stay positive during this time.
- Drive Innovation in every aspect of the business- Absorb and accept technology in your organization to take your product to the customers- Take initiative and bring smarter consumer propositions to..
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- In order to mitigate any risks, it is important for companies to adapt to a new set of rules while being careful with tracking expenses against the revenue status, checking the feasibility of the business model, and planning policies for the next quarter
- There needs to be a diligent revision of sales, revenue goals and product timelines along with a new operating plan in place. Companies should strategize and communicate transparently with the stakeholders and customers to understand their perception of the products/services being offered.
- Also, to avoid bitterness with the contracted parties, companies should give sufficient notice to the vendors, suppliers and landlords in case of any delay in the payments.
- When it comes to the capital, companies should stay patient with fundraising. Considering the criticality of the situation, investors may take longer than usual to make funding decisions after following stringent diligence procedures.
- In order to mitigate any risks, it is important for companies to adapt to a new set of rules while being careful with tracking expenses against the revenue status, checking the feasibility of the b..
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Cost Monitoring: Always monitor your cost and get as lean as possible even when you are not having liquidity challenges. Also, keep an eye on your balance sheet. The better you manage your cash the better your business plans will work out.
Contingency Planning: Planning always saves you from the worst case scenarios. Always have Plan B and if possible Plan C also so that if something goes sideways, your company will not be hit hard as it will be saved by your contingency plans.
Quick Decision Making: Never delay in making decisive decisions in times of trouble. And never be shy about seeking help from outside.
Communicate with Customers: Try to communicate with customers and let them know that they and their reviews on your products matter. Improve and do the changes accordingly, if needed.
Internet: Go online as much as possible because it always helps to reach customers who we cannot tap through offline or other forms of marketing.
Keep Striving: Keep striving to come on top of the industry of which your company is a part of.
Cost Monitoring: Always monitor your cost and get as lean as possible even when you are not having liquidity challenges. Also, keep an eye on your balance sheet. The better you manage your cash the b..
Read More
Innovation: Understand changing customer requirements and incorporating the same in one’s product and offerings is important. For instance, an energy drink can innovate to launch an immunity-building beverage, an e-commerce firm can endeavour to provide solutions to spread awareness of the Covid 19 etc.
Marketing approach: This is an excellent time to relook at the channel marketing approach. Maximizing free channels like SEO and owned media like website and social media to communicate and engage with the customers. And build further marketing efficiency while starting the channels that require spend
Innovation: Understand changing customer requirements and incorporating the same in one’s product and offerings is important. For instance, an energy drink can innovate to launch an immunity-building..
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