CxO Interview – Shozab Hasan, CEO Regex
Tell us about yourself, how did you reach there?
CxO Interview- I started my career as Software Engineer in 2009 alongside my BS(CS) at the University of Karachi because skills are equally important as a degree. However, I never prioritized skills higher than a degree, so I secured the top position in my batch in 2010, which helped boost my career.
In 2016, I left my job at Wavetec as Systems Architect to achieve my long-waited dream and founded Regex. Regex means to move forward precisely. Our company provides R&D and Custom Software Development Services globally, and we always focus on cost-effective solutions.
Why do businesses fail in the early stage in Pakistan?
During the initial five years of my journey in business, I understand that multiple factors can make a business fail. However, cash flow is the big thing that may fail any business.
Usually, new startups try to bring in all the charm they see on social media and Linkedin posted by well-established companies. But unfortunately, that disturbed their cash flow, and ultimately, they went out of business.
Although I am still learning, I can confidently list some core points to build a sustainable business by focusing on:
- Managing Cash flow and always creating some profit.
- Administration and HR should be hired from day one.
- The end-to-end process automation starts from Sales -> Production -> Delivery -> Customer Success.
- Marketing can come later, but you should have at-least zero-level marketing, including a proper working website and presence on public platforms.
- As an owner, you should avoid becoming a part of the process, but like a pilot whose plane is flying on autopilot, he keeps watching the gauges to take control where needed.
Is it good to provide compensation & benefits in the organization?
Yes. a company should provide a friendly environment to all the people working together to achieve the company’s vision. So, the success should be shared among everyone whether in terms of bonus, appreciation, salary increment, company’s offered trips, etc. For example, in Regex, we disburse the success by giving employees a quarterly profit-sharing bonus. Employee Feedback Systems.
Sporting Events:
A culture based on respect, transparency, and courtesy, can be an effective retention tool.
Rewards and Compensation:
At the end of the day, we all work for the bottom line. If the emoluments are not aligned with the market trend, then a survey is overdue. After all, malnourishment breeds poor performance.
Learning and Development Opportunities:
This is one area that is still considered an income statement item rather than a balance sheet item. Employees do appreciate that the organization is investing time, energy, and resources in them and do feel obliged. Other than this, the mind-boggling pace of change makes it imperative to equip a team with the state of the art so that they are ready to take up challenges.
Batch Training Programs:
The induction of fresh university and business school graduates in various types of batch training programs is by far the best method of molding young minds in line with the systems and culture of a particular organization. Resource development on these lines is not only immensely beneficial for the organization itself but also a great service for the country in the form of adding knowledgeable employees to the industry.
Corporate Sponsorship of programs at Business Schools:
There is a dire need that organizations to join hands with educational institutions and business schools in producing graduates tailor-made for the industry. This cooperation and assistance could be in one or all of the following shapes.
- Financial Sponsorship.
- Development of curriculum.
- Senior Corporate Leaders teaching courses in their area of expertise.
- Visiting universities and institutes as guest speakers.
Final Word
Human poaching as a phenomenon has its roots in many things like resource crunch, high growth patterns, degenerating norms, and values, ‘survival of the fittest culture’, and material well-being taking precedence over any other achievement in life. At times, it feels like the world is rapidly becoming a place for ruthless winners without leaving room for gracious losers. Society in general and the corporate sector in particular need to take up this challenge. The war of talent will eventually be won through sustained long-term measures suggested above and not by resorting to quick fixes i.e., human poaching. In the process, organizations should remember that employees are not stomachs, they need much more than food for sustained performance.
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