Down the Ages

(Published in Banking Services Chronicle May 2006)

In the beginning was the Age of Brahmins. Civilisations stand testimony to the fact that philosophy was highly valued. We bowed down before philosophers, whether it was Socrates and Plato in the west or the galaxy of seers who composed the Vedas in the east. Knowledge and its repositories were respected, or rather revered. The holy books and the keepers of faith reigned supreme.

Then came the Age of Kshatriyas. It saw the ascendancy of power. The king or queen sat on a high pedestal and the countries bowed solemnly while the remaining subjects prostrated themselves out of sheer awe. Greatness across the world became associated directly with power and remained so for a long time—Ashoka the Great, Alexander the Great, Akbar the Great, and so on. And of course, Great Britain. It is worth noting that though the Englishmen began their rule through trading, they reached the peak only under Queen Victoria and her successor monarchs.

The Industrial Revolution was meanwhile making its impact felt slowly but steadily. The concept of imperialism was challenged. And this led to the World Wars and then the advent of the Age of Vaishyas. From now on it was money gaining supremacy. This was best epitomised by the US becoming the centre of the world and Britain having to be content with Greenwich-like tokens.

Japan was now known less by Hirohito and more by its economic prowess, which at one time became an impending threat even to Uncle Sam. Bill Gates became a role model for the world. And even socialist India decided to jump the economic bandwagon, though late in the day. The reader of The Economic Times won more respect than that of The Times of India. Foreign institutional investors and mutual funds began to call the shots.

And now comes the Age of Shudras. Before I proceed, let me clarify I am talking of varnas, which should not be confused with jati or caste system. Varna should be construed as a division of labour rather than as a hierarchical structure. By the Age of Shudras, I mean an era when human resources have become supreme. Says Vasanthi Srinivasan, assistant professor, organisational behaviour and human resource management, Indian Institute of Management, Bangalore: “Capital and other physical resources are easily available; the greatest challenge is with human resources.”

So says Stephen R Covey, motivational speaker and author of the bestseller Seven Habits of Highly Effective People, as well. He thinks a sure way for corporates to stay ahead of competition is to treat employees as assets. “In the industrial age, employees were considered an expense; now they are an asset. Study any business that is way ahead of its competitors and you will find they are using a knowledge worker approach.”

It is this consideration for human resource that is fetching managers fabulous salaries. The managers have learnt the art of motivating the employees and getting the best out of them. As economic disparity ceases to be a major force—at least in the corporate world—the creation of wealth becomes directly proportional to the motivation level of the employees.

Some may argue: if the employees progress, how is the company going to benefit? Rather, if you help them prosper, they are more likely to jump towards a greener pasture. Because prospering employees will be in a better bargaining capacity.
But such arguers need to take note of the following points. One, not everyone likes switching jobs. Especially when the differential wages are not much as a proportion of what you get. Two, even if such employees leave jobs, they have contributed much to the company by the time they leave. Proving oneself to be worth one’s salt is an innate desire. And three, they will have made the company so prestigious that it will be able to attract bright newcomers.