President Director and CEO at PFI Mega Life

Mudit: Can you tell us a bit about your background, your journey, and how you managed to reach your current position? Over to you, Sam.

Answer: Thank you, Mudit. I come from a small town in eastern India, Hazaribag, where I spent my first 15 years before finishing my grade 10 schooling. I then left home and spent about 12 years in Delhi, where I completed my schooling at Delhi Public School, pursued undergraduate management, and gained some work experience. Afterward, I earned my MBA in Indore and spent around nine years working in Delhi and Mumbai. Subsequently, I moved out of India, and for the last decade, I’ve been in Hanoi, Bangkok, and Jakarta.

In my early career, I worked in financial services, particularly in lending for an NBFC. After my MBA, I spent 12 years at HDFC Bank, holding various roles, from lending and branch banking to business planning and managing a blue premier banking business. I also worked with the bank in Vietnam before transitioning to the insurance sector, where I have been in leadership roles for the last two positions. That’s a brief overview of my professional journey.

Mudit: Could you share some challenging times or moments of self-doubt in your career, times when you faced setbacks or difficulties, and how you overcame them? What lessons have you learned from these experiences that could benefit others?

Answer: Certainly, like most individuals, my career has had its fair share of failures and challenges. To begin chronologically, leaving home at 15 to move to Delhi was a significant challenge. During that time, I faced prolonged illness, which resulted in surgeries and infections, impacting my education. It felt like a substantial setback at the time, but I persevered.

Another significant challenge was when I started my first job as a frontline salesperson, selling loans. For the initial two months, I couldn’t close any deals, which was frustrating and impacted my confidence. In 2008, the global financial crisis posed a massive challenge for everyone in the industry, and it was a tough year.

Moving to a new country, Vietnam, with a different cultural environment and transitioning from a professional bank in India to a promoter-driven bank in Vietnam was another significant challenge. It required a lot of effort to understand and adapt to the local culture.

My advice is not to fear failure and challenges, as they are essential for personal growth. Embrace them, learn from them, and keep pushing forward.

Mudit: You’ve worked in several countries with different languages and cultures. How have you managed to overcome language barriers and adapt to these new environments? Any tips or strategies for professionals working in international roles?

Answer: Overcoming language barriers in international roles can be challenging, and I’d like to emphasize that I haven’t completely mastered these languages. However, I’ve learned some strategies that have helped me.

First, make a sincere effort to learn and follow the local language. Even if you’re not proficient, people appreciate your willingness to adapt to their culture.

Second, engage with local colleagues and regularly meet people. Don’t worry too much about language barriers, as communication can still happen with gestures and basic phrases.

Lastly, be mindful of your body language. Understand that your message may be easily misunderstood, so ensure clarity in your communication.

The key is not to fear the language barrier but to focus on building connections and adapting to the local culture.

Mudit: How do you balance your work, family, and personal life? What advice would you offer to professionals who struggle with achieving this balance?

Answer: Balancing work, family, and personal life is a common challenge. I’d recommend considering the human biological clock and allocating time for rest, sleep, and pursuing your passions. Don’t overwork or spend all your free time on entertainment. Find activities that rejuvenate and engage your mind.

Drive, influence, and judgment are essential traits for career advancement. In the early stages, drive is crucial to achieving goals. In middle management and beyond, influencing skills become vital as you work with various stakeholders. At the top, judgment is key for making critical decisions.

Finally, remember that personal and professional life should complement each other. Don’t neglect one for the other; find a balance that works for you.

Mudit: What advice would you give to middle-level managers aspiring to reach the C-suite or higher positions in their careers?

Answer: For middle-level managers aiming for the C-suite, I’d emphasize three key qualities: drive, influence, and judgment.

Drive: Maintain a strong work ethic and strive for excellence. Drive will help you excel in the early stages of your career.

Influence: Develop strong influencing skills as you progress. You’ll need to work with various stakeholders, and your ability to persuade and collaborate with others becomes critical.

Judgment: As you move into top positions, your judgment and decision-making skills are paramount. Gather diverse opinions, rely on your experience, and make sound decisions.

Mudit: We discussed the concept of influencing, but how do you influence yourself? What tips would you give? We often find ourselves needing self-motivation to persist in our careers.

Answer: That’s an excellent Mudit, and I appreciate it. I briefly touched on this earlier when we discussed self-reflection. Depending on the context, it might be called different things, but it all boils down to taking stock. No one else truly knows you as well as you know yourself because you’re not fully exposed to others in that way. Occasionally, some bosses make good mentors, and they can offer insights. However, you need to influence yourself first, developing the drive to assess what you’re doing right, your weaknesses (some of which might be ignored, while others could be detrimental). Continuously take stock of things, considering what you need to build and add to your skillset in the upcoming years. For example, if you feel the need to enhance your public speaking abilities, you have to take action. Overcome your stage fear by seeking opportunities to speak, both inside and outside your workplace. If you think you’re not building relationships with others effectively, make a plan to connect with the people you want to build relationships with, decide how frequently you’ll interact with them, and stick to your plan. I’m giving these as illustrative examples to highlight the importance of self-reflection. People use different methods for self-reflection – some journal, some meditate, while others do it during physical activities like sports. Find what works for you because everyone is unique. And most importantly, do it consistently. Don’t expect self-improvement to happen on its own.

Mudit: You’ve encountered many young professionals who are eager to make an immediate impact at work. They believe that if they haven’t transformed the organization within the first year or two, they haven’t achieved much. What’s your advice, especially considering that you’re hiring many millennials in your organization?

Answer: This is indeed a great Mudit, and it’s one of the more challenging ones to address because we are still grappling with how to effectively engage with millennials. I’d break this down into a few key points. Firstly, we must strive to understand them better. We grew up in a vastly different environment, with far fewer choices. For instance, think about TV channels – back in our day, there were only a few. When cable television was introduced, there were still only a handful of choices. We were content with these limited options. However, today, people are growing up with a plethora of choices. This generation is accustomed to having a wealth of options, whether it’s about careers, job opportunities, or other aspects of life. We must recognize that their mindset is different.

Another factor to consider is the feedback they received. Many of us experienced a great deal of criticism in our school days. Our parents would often point out our flaws and areas for improvement. However, this generation, the millennials, hasn’t had to deal with as many exams and hasn’t received as much critical feedback. They’re more likely to hear how great they are and how perfectly they fit into the world. It’s only when they enter the real world of business that they begin facing performance appraisals that might not align with their self-perception. Therefore, we must understand the environment they’re accustomed to. To engage effectively with millennials, we must provide them with numerous choices. They’re used to having a broad range of career options, job opportunities, and more. Even when we know that a specific option is ideal, we should give them the freedom to choose. If we try to dictate their choices, they’ll often push back, as they’re not accustomed to being told what to do.

So, from a management perspective, I believe we should focus on giving them more choices and work on understanding their unique perspective. We can’t expect them to operate the same way we did in the past, as they have grown up with different norms. The world has evolved, and our approach to engaging with the younger generation should evolve too.

Mudit: As a CEO or a board member, you sometimes bring in individuals from outside the organization to fill crucial roles that internal candidates might have desired. This can be disheartening for internal employees who wonder why they weren’t considered. What advice do you have for executives to manage their careers and navigate organizational aspirations?

Answer: Thank you for this Mudit. It’s a common and complex situation that executives often face. I’d like to offer a couple of perspectives on this issue. First, young executives must understand that their careers are long-term endeavors. We are looking at 99-year lifespans and 40-year careers. It’s essential to prepare for the long run. Imagine you’re planning to run a marathon. When I decided to participate in an Ironman competition, I had a two-year training plan to build the necessary skills. I hadn’t cycled for many years, so I needed to catch up. During this time, I worked with a coach to enhance my abilities. This parallels career development. You must assess your skills, determine what you need to improve, and work steadily towards your goals. Taking small steps consistently is key. Don’t expect immediate results or promotions. Be patient and focus on gradual improvement.

Another aspect to consider is the specific needs of the organization at different times. Sometimes, a company might need someone with a unique skill set or experience to fill a critical role. It’s not necessarily a reflection of the internal candidates’ capabilities. For example, when we needed someone to set up our digital sales channel, we brought in an expert from the banking sector who had a decade of experience in digital sales. This was a specialized role that required specific expertise. Internal candidates should not be disheartened by such decisions. Instead, they should view them as opportunities to learn and grow.

It’s crucial to have open conversations with your leaders. Understand why certain decisions are made and what you can do to prepare for future opportunities. Remember that career growth is a continuous journey. Keep enhancing your skills, stay patient, and remain committed to your long-term goals.

Mudit: Sam, you seem to have found a great balance in your career. You work hard, travel extensively, and enjoy sports like Ironman and running. How do you maintain this balance, and what advice would you give to others looking to achieve a similar equilibrium in their lives?

Answer: Thank you for the compliment. Balancing career, personal life, and hobbies is indeed a continuous effort. Let me share a few principles that have worked for me. First, it’s essential to understand your priorities. For me, maintaining a healthy work-life balance and pursuing my passions are crucial. I believe that staying active and engaging in sports like running and Ironman competitions help me stay focused and energized in my professional life.

Second, it’s important to plan and manage your time effectively. I set aside specific times for work, exercise, and personal activities. For example, I ensure that I have dedicated time for training and participating in sports events. This helps me stay disciplined and committed to my goals.

Lastly, don’t be afraid to ask for help and support. I have a great support system, including my family, colleagues, and coaches, who help me stay on track. Building a strong support network is essential for achieving balance and success in both your personal and professional life.

Remember, finding the right balance is a continuous process. It requires self-reflection, planning, and a willingness to adapt as circumstances change. Stay focused on your priorities, manage your time effectively, and seek support when needed.

Thank you, Mudit, for this insightful discussion. I hope my experiences and advice can help others navigate their careers and achieve a fulfilling balance in their lives.