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| Sunday, 12 October 2003 |
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Business |  |
| News Business Features Editorial
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Jolt awakens ETF by Pelham Juriansz Dinesh Weerakkody, Chairman Employees Trust Fund Board (ETF) believes in what he has termed the "Jolt and Refocus" strategy. Weerakkody entered the scene when the ETF was in the doldrums, with a backlog of 15 million transactions and many customer complaints. "I understand that change has to be gradual, but here I am trying out the 'Jolt and Refocus' system, which entails giving people a "good shaking up". "We have to implement change fast so that people do not have too much time to think. Otherwise, those who resist change, and a lot of people do, will sabotage the operation. The ETF employees should look at their work with a different mindset and think of the workplace as their own". "Sri Lankans are very good at conducting meetings, but slow in implementing decisions made at meetings," said Weerakkody. "I am investing a lot of money in human resource development and trying to develop the culture and competency of the people working for me. I am also a firm believer in the discipline policy followed by Lee Kuan Yew of Singapore, who said of the three Ds "Discipline should be established first, then Development, and then Democracy will follow". When Weerakkody started the 'refocusing' process at the ETF, he decided to find out the proportion of the employers who contributed most to the Fund and where they were. Twenty per cent of the employers were found to be contributing over 80 per cent of the dues for their employees. "I read the book 'How to get things done' by Larry Bossidy, which talks about identifying the need and then getting the job done. Identifying the problem solves half of it. I introduced the Express Claim Scheme, where ETF members can claim their money every five years. My ultimate goal is to make our system similar to that followed in Singapore, where members are given a Personal Identification Number," he said. "The internal reorganisation of the ETF extended to the preparation of a corporate plan for three years from 2002-2004. Another positive experience was the '58 Program', which, over two days in March and April 2002, produced the initial spurt in recognising the need for order and 'a place for everything and everything in its place'. Communication skills were also strengthened through in-house English classes. The 'Employee of the Month' Award was initiated to recognise the work of public service institutions. "Through the ETF scheme, we provide hospitalisation benefits for our members. We provide benefits for heart and kidney surgery for which Sri Lankans pay through their nose. During my term of office, the public outcry that Annual Member Statements (AMS) were not issued on time, was quashed and the AMS issuance percentage has now risen by 154.27 per cent," he said. |
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