Why Meritocracy Drives Innovation of World-class Products

Technology companies that employ a meritocracy, people forge their own path to leadership, not simply by working hard and smart, but by freely expressing innovative ideas that positively impact their teams and company.

Why meritocracy enables innovation

In a high tech company, true meritocracy is defined as a system where ability and achievement is the basis for advancement, rather than connections, status, or power. A meritocratic culture is the key for companies to remain competitive and successful. It tends to make the most capable individuals happier, as their achievements are recognized. And research clearly shows that happy employees lead to direct business success. To do so, meritocracies — hiring, rewarding, and promoting the best people, based purely on their merit, are a must.

  • Provides clear and openly communicated expectations and metrics.
  • Ensures transparency of results, which is available to all.
  • Builds structures to keep the context alive.
  • Develops a culture of acknowledgment.
  • Prioritizes performance and uses it as a scale for rewards.
  • Enables achievement of employee’s goals.
  • Tends to make employers learn from coworkers leading to self-development.
  • And, endorses efficiency and effectiveness of organizations.

How to build and sustain a culture of meritocracy

Tech companies lead in making formal frameworks that ensure employees are judged exclusively by their efforts, skills, abilities, and performance, paying little to literally no heed to sex, race, class, or nationality. By focusing on what someone brings to the team, meritocracy creates more opportunities for people to succeed, no matter their background.

Ascribe to your Core Values

Defining and evaluating candidates and employees based on a set of organizational core values helps to eliminate any inherent bias. By placing value on collaboration, transparency and work ethic, at Roadzen high performance, ownership and impact of a largely flat structure has been achieved. It results in high standards and ownership of work, and raising of the bar for everyone around.

Empower your leaders

Establishing clear processes and criteria for the hiring and evaluation of employees is the job half done. What matters is monitoring and evaluating the outcomes of such company processes, by giving the responsibility to an individual or group within the organization with the ability, and authority to ensure that those formal processes are fair.

Foster passion across the organization

By identifying what motivates an individual and then empowering them to set their own direction makes all the difference. Instead of requiring that a candidate has specific skills to fit a role, hiring for their potential, and helping them build upon it is what is needed. To do this, systems that provide training, mentorship and internal opportunities for employees who have not had access to them have to be created.

Encourage a culture of listening

In a meritocracy, great leadership is not about having great ideas — it is about ensuring that the best ideas emerge. It is up to the executives and managers to set the tone of the workplace and encourage an environment that promotes listening and sharing. It is impossible to have a meritocracy if ideas are not allowed to surface and flow freely.

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