Selected as Asia’s Most Trusted CEO 2021, Dr. Sridhar Peddireddy of Renova Hospitals has achieved multiple milestones through sharp and incisive vision and implementations
What makes a strong leader? What are your key leadership strengths are make the strongest attributes of success.
As a leader, I believe in leading from the front. I trust my instinct in decision making and stand firmly on my ground beliefs. Communication is the key – I communicate clearly and also make sure the other person and I are on the same page. I am friendly most of the times but firm when the situation demands. I stand by my word and give utmost value to time and expect the same from my team.
I would say, my friendly yet firm way of leading is my strength. I have personal bond with each one of my core member – most of them have been with me from last 18 years! We always celebrate each other and support during tuff times. I make sure it is always WE and success easily follows.
An accomplishment that you consider to be the most significant in your career? What challenges did you face to reach to the success.
Started a Mid level Multi speciality Brand – RENOVA
Renova is my brain child and I personally feel that healthcare in India is mostly concentrated in major cities and further, the hospitals are located in posh and business rich areas only. This I feel, is leading to lot of difficulties in terms of accessibility to people living in rural area and periphery areas of cities. Even though hospitals are available in rural areas and peripheries of cities, they are more like nursing homes with quality nowhere comparable to Corporate hospitals. In order to make healthcare more accessible to rural public and public living in older/periphery part of cities, I have collaborated with few other like-minded doctor friends and established RENOVA in the year 2018.
(Role: Founder, Renova Hospitals)
Major accomplishment of my career is playing a key role in starting Omega Hospitals in the year 2010. Omega hospitals has grown to be second largest oncology brand in India in just 11 years of span with 9 Oncology centres across India.
(Role: CEO, Omega Hospitals)
Sri Dharni Foundation – Service to Mankind, Nature and Empowering Women
I have established Sri Dharani foundation to reach to people in the areas of Education, Health and to promote green living. I believe that a small percentage of every rupee earned should be given back to society. I feel that today there are lot of people who want to serve the society but fail to do so due to lack of time and proper platform. The main aim of establishing Sri Dharani Foundation is to create a platform for like-minded people and collectively do something to the society.
(Role : Founder & President, Sri Dharani Foundation)
What is a role of leader in these challenging times? List 5 in order of priority.
I believe, a leader is the one who should be an example for the team to follow. During these challenging times, it’s even more so. Practice before you preach is the mantra. I wouldn’t ask for anything that I would not be doing. Success as a leader will depend on your resilience, empathy, transparency, connectedness and balance. My top 7 of the list of roles of a leader are:
- Set the tone; act as though all eyes are on you (because they are)
As a leader you set the tone for your entire team. People will look to your actions as a model for their own. It’s important to role model positive energy. Steer clear of cynical comments, and try to frame challenges as growth opportunities.
- Acknowledge that this is a challenging time and display empathy
we are living through incredibly challenging times and undoubtedly this causes worry, uncertainty and competing priorities. As a manager, empathy is key during times of crisis. Check in, listen with care and curiosity, and work with your team members to find solutions on how to best manage work and life priorities.
- Communicate more than usual
Cascade relevant information in real-time. Use team and one-on-one meetings as forums to encourage your team to raise concerns and ask questions. Even if you don’t have all of the answers, be transparent with your team and demonstrate that you are in this together.
- Connect with your team more regularly
During this period of “physical distancing”, feelings of isolation may grow. Make an effort to informally check-in with your team and leverage digital platforms to stay connected virtually.
More important than ever is to make time to listen and understand. Listening to people goes a long way. Active listening is a powerful tool in harnessing emotion in a positive way. Explore your team’s challenges and what is within your control to address.
- Show gratitude
Studies show that demonstrating gratitude increases one’s overall sense of wellbeing and ability to manage stress. In challenging times, people are more stressed and face increased pressure; so remind yourself and your team to say ‘thank you’ to each other – everyone is doing their best.
- Encourage flexibility and actively support it
Ask each team member what works for them; remember each of your team members will have a different way of structuring the way they work in light of personal circumstances. Having an open conversation and collectively finding a solution will allow them to operate at the best of their ability.
What is your vision and how do you share that with your shareholders, employees and others?
At present Renova Hospitals is spread across Hyderabad peripheries with 4 branches and we are planning to spread across India in the same model and add over 9 branches in span of next 2 years. (6 Projects are in Pipeline and in implementation Phase)
At present Omega Hospitals is the second largest Oncology brand having 1200 beds spread over 9 branches. My immediate vision is to grow the brand to 2000 bedded in a span of 2 years, My long term vision is to take Omega Hospitals public in a period of 6 to 7 years from now and also to build an integrated cancer institution focusing on preventive care through research and development.
My Vision will be clearly demonstrated to my team and stakeholders. All of us work hand in hand to make our project success.
How do you drive active business renovations and how does that impact your subordinates?
The employee-work contract has changed, compelling business leaders to build organizations that engage employees as sensitive, passionate, creative contributors. I depend on my ability to inspire my subordinates to want to give their best in anything assigned to them. So, it all boils down to team work. Without a willing, energetic and knowledgeable team, there is little one can carry on renovations in the business. The deep involvement of my subordinates will only make it a personal achievement to each of them and to the organisation. Hence, we work as a team, divide and delegate the responsibilities where each of us have a part in building along with a piece of our hearts.
How do you integrate corporate philanthropy or corporate social responsibility as a part of your business strategies?
Giving Back to society is what I believe and for this to happen I established a foundation – Sri Dharni Foundation in 2019. We are a non-profit organization based in Hyderabad, Telangana. My aim to take care of under privileged people by providing basic needs. We are serving people from rural areas with basic amenities. From past 7 years there are multiple activities supported by me individually like constructing a school in rural village in Andhra, Planting 1000+ trees in Medchal, Serving food to homeless, Providing books to rural kids etc.
Now, with the help of this foundation, I want to spread all the activities under one roof, I want to uplift the trust to do more service to people who need a helping hand to uplift their life. All this work is done as a part of corporate social responsibility. As a founder of RENOVA hospitals this has been on our mission list to Serve and Save Needy.
What has been your driving force or philosophy in life?
Do the right thing
What are the other philanthropic works you are involved in?
As a founder of a Trust, I believe that a small percentage of every rupee earned should be given back to society. I feel that today there are a lot of people who want to serve the society but fail to do so due to lack of time and proper platform. The main aim of establishing Sri Dharani Foundation is to create a platform to give back to society.
How do you define success and how do you measure up to your own definition?
To me, success is meeting the needs of the basic healthcare facilities to people living Peripheries, I will be successful when I will be able to do it in a low cost model and make healthcare reachable to every corner. I have translated my goals to Mission and Vision for Renova Hospitals and Sri Dharani foundation.
In your opinion what is the most significant aspect of leadership?
Leadership is a package of many attributes and below are key attributes which I believe
- Clear and proper Communication
- Transparency across team
- Set a good example
- Cross collaboration
- Recognise and foster potential
- Set goals and expectations
- Learn from Failure
Your perception of an empowered society. How far your industry has/can contribute for the same?
Empowerment can be categorized in to three levels. At the societal level empowerment is a macro process, at the organizational level it is a micro process, and at the individual level it is a personal process. Individual change feeds into organisational change which feeds into societal change. Societal change influences organizations and individuals; organizational change in turn influences individuals and society. Each factor is linked with another one – one leading to the other. I believe, if I am constantly engaged in the process of empowerment by empowering myself and the people working with me that will lead to the next step of empowerment of the organization.
Health industry is a big player in empowering the society by basically keeping the society healthy and safe. This is a continuous process and a never ending one. Health industry also provides umpteen opportunities of livelihood in various levels -directly and indirectly, which in turn leads to empowerment of the society.
Esprit de corps: How do bring fairness and equality to all?
Espirit de corps, otherwise known as morale, plays a major role in building a person, a team or an organisation. In my case, I focus on building up a good rapport with my core team members by encouraging pushing for an extra mile yet providing them with the comfort, resources and mind space required to reach that extra mile. This resulted in a successful execution of several projects.
I believe, the act of kindness, loyalty or concern is contagious. My attitude with the core team will reflect on their behaviour with their teams and so on and so forth. Hence, I make sure the spirits are up and the team members are well equipped – not just materially, but also mentally.