An Indian financial services company, Zerodha CTO Kailash Nadh has said that it is Human Decency, no other formula is required to retain employees.
Zerodha has retained in its employees its tech team. The company had 33 employees and only two employees have resigned from the organization in the past decade.
During the Moneycontrol’s India Fintech Conclave CTO Kailash Nadh said, “There is no formula. I think the key is that we don’t look at people as resources or talent. We don’t even use the word talent.”
“That is not our framework. It is a group of people who hang out with each other, who have the right philosophies, and who gel well with each other. There is no pretense”, Kailash Nadh said.
Kailash Nadh further said, “It is human decency, I guess, and a clear focus on building relationships. There is really no real formula.”
The CTO statement follows when major IT companies have been laying off employees. Earlier, Zerodha Co-Founder Nikhil Kamath shared his advice for Indian students studying abroad amid mass layoffs.
He said, “With rising interest rates in the west and the mass firing in high-paid tech jobs, one seriously needs to reconsider the many new universities set up in India, which have improved tremendously.”
“It’s one thing to go abroad to study and network, another to be saddled with crazy debt for life at 7-8 per cent…”, the post added.
Zerodha CEO Nithin Kamath revealed that the company has never hired IIT, and IIM Graduates. However, the companies look for talent from IIT and IIM. On the other end, Zerodha does not prefer hiring from both institutions.
As the company believes that such institutes don’t produce graduates that are more focused on quickly developing their careers instead of thinking-long term about helping their business. As a company, Zerodha always looks forward to preferring passion over education degrees.
Nithin Kamath said during the podcast, “We’ve never hired a single person from IIT and IIM till now because we’ve found it very tough to fit such people within the organization,”
“The graduates from these organizations are “more focused on developing their careers instead of thinking about the growth of the company”, the Nithin said.
“At least for the core team, the people who do important stuff at Zerodha, we see if they’re passionate about the cause. Education doesn’t matter”, Nithin added.
Nithin Kamath further added, “The thing about IITs and IIMs is that when you’re in that kind of environment, you’re wired to think about how quickly you can grow in life. This culturally doesn’t fit well (at Zerodha) because we can’t tell people how quickly they can grow.”
“Zerodha’s criteria”. “If you’re okay getting up every day, doing something different, and looking to keep getting better as a business — if you’re okay with taking that chance, we can hire you,” he added.
