Employees want for recognition; money is not the most essential factor: Narayana Murthy

“In my experience, money is not the most important factor—employees seek respect and appreciation for their abilities,” Infosys founder NR Narayana Murthy remarked, emphasizing the need to provide favorable working conditions for staff members.

During an interview in Hanoi, Vietnam, with Truong Gia Binh, the founder and executive chairman of FPT Group, Murthy said that many multinational entrepreneurs give up to 75 percent of their stock to entry-level workers.

In addition to managers providing advantages to their staff, workers also have a responsibility to maintain and safeguard the company’s assets. Murthy also discussed the need of defining roles in the workplace, stating that while coworkers may be friends outside of the office, they still need to do their assigned duties there.

The founder of Infosys recalled that the company’s objective has been to gain reputation rather than simply money since 1981. Customer respect, according to him, “translates to profitability and attracts top talent.”

He spoke on money matters, pointing out that even while many businesses make a profit, they still have expenses that keep them from turning a profit. “Money is very important. We have to make sure that our expenses are smaller than our revenue and that our costs are reasonable and supported by our business operations.”

Murthy emphasized that Vietnam is positioned to emerge as one of Asia’s most developed nations in the next 20 to 25 years due to its remarkable boldness, confidence, hard work, and discipline. He predicted that Vietnam will experience wealth for its people sooner than many other Asian nations.

He said that via their audacious vision and deeds, entrepreneurs turn ideas into employment and advance national development. “Technology is always needed because it is always changing,” he said.