Intro 0:00
Many aspire to reach the upper echelon of the healthcare industry, but few are able to successfully navigate the corporate ladder. C-Suite Partners sits down with international healthcare executives, asking the tough questions and unpacking the personalities of the top industry leaders. Welcome to the Boardroom.
Michael Murray 0:35
Jacob, thank you so much for being a part of C-Suite Partners’ “In the Boardroom”. I think the viewers would like to understand a little bit more about what you’re currently doing in your role and who you’re working for here in the region.
Jacob Jacob 0:45
Great, thanks so much for inviting me. And, so I work with Aster DM Healthcare GCC as their group CHRO. So currently we have just onboarded a new set of investors over the last one year. So we’re working very closely on expansion. The company is on expansion mode, and we’re looking a lot into the Saudi market to expand into the Saudi market, where I think the investors are also keen, given the focus of the Saudi government and the fact that healthcare needs to be more penetrated within the KSA market. So my job is a lot around due diligence, HR takeover, the due diligence of the integration plan, plus looking at how HR can help Aster DM Healthcare look at growth in the next three to four years, given its ambitious targets around expansion.
Michael Murray 1:33
Excellent. And what about your background in healthcare? Talk talk me through your career.
Jacob Jacob 1:38
I’ve got about 15 years of experience in hardcore healthcare across various countries. So, I’ve worked with some of the premium brands in healthcare. So, I started my career, my first foray into healthcare was with Apollo Hospitals. I was brought in for transformation, they wanted to move away from a family-run organisation to a professional organisation. So my seven years was around setting up new hospitals, acquisitions, going in for what I would say HR transformation, at even starting from the basic level and ensuring that HR supports the business. Then I moved on to Columbia Asia in Southeast Asia, covering all the markets in Southeast Asia. So we had investors such as Mitsui who had invested in Colombia Asia, and then the company was going for an IPO. But finally it went in for a private sale. So TPG and Hong Leong Bank acquired Columbia Asia. So complete thing around the due diligence, the cultural integration, the merger of both entities to ensure that the outgoing and incoming structures were aligned to the vision of the new organisation. And then from Columbia is Aster. So all put together, about 15 years.
Michael Murray 2:41
I’m interested in your views on working here in Dubai, the government’s impact on healthcare. Because you’ve worked in India, you’ve worked in Southeast Asia. Every market is different. Some governments are hands off. Some are hands on. Some are draconian in nature, and some are innovation first. What’s your view of the government here?
Jacob Jacob 3:09
See, I think the government here is extremely support an extremely visionary government, and I think they are providing enough and more support for all healthcare providers to flourish. And they’re looking at exceptional service being provided by the healthcare service providers. It’s a government which helps organisations thrive, and there is space for everyone. But the organisation also has to have a unique selling proposition which is unique to that particular organisation to serve the public of UAE. I don’t think the healthcare ministry is not allowing any of the organisations not to flourish. They’re providing all the supports. If you look at all the players in this market, all have a certain unique niche that they have got for themselves. Some of the larger players like us, we have a more integrated service, but there are also niche players. So there’s space for everyone. But end of the day, it all comes back to, the patient has a choice, and what you do makes that difference for the patient to come to your hospital. If you get that, if you get that equation right on what makes things work for the patient, they’ll keep coming back to you.
Michael Murray 4:13
And given your role, kind of the coalface of people and talent, where do you see AI playing a role with talent acquisition in the future?
Jacob Jacob 4:24
AI is an enabler. If you’re looking at all talent acquisition models, AI can be used as an enabler to add on more value in terms of whether it’s sifting through CVs or interview questions or looking at their social profile, etc. But end of the day, I still feel a face-to-face interview with the interviewer and interview makes far more sense.
Michael Murray 4:43
Sure.
Jacob Jacob 4:43
Probably, it’ll give you more data points to make better decisions. So even in terms of analytics, etc., even though we can use AI, I still continue to use our own dashboards, our own ways of looking at predictive analysis because that helps you think, that helps you look at solutions better. And then you compare what your solution is with what AI can generate from that data, and then see where there are learnings, and then use those learnings as things that you can look at for the better of the analysis that you’re putting together.
Michael Murray 5:12
What is the most challenging part of your role? I’m not saying what you dislike the most. I’m saying, what what would be the most challenging part of a CHRO role, do you believe?
Jacob Jacob 5:25
I think a CHRO has to add value to the business. When I say add value to the business, every year there is something known as growth mindset. I use the word more than growth mindset, I’m using the word wild courage. So, how do you ensure that your people, your C-suite who works in the organisation, have the wild courage to bring about a growth mindset that builds the enterprise? Because you cannot operate year on year in the same way that you are operating in the same mindset. So you have to change mental models. You have to bring in a growth mindset, and people have to have that wild courage to take those risks and decisions which make a difference. So I think that today, I think the rest all we can, I mean, if yes, attrition is a challenge, change management, those are all given today. But I think the biggest, what I would say challenge is, how do you ensure that the C-suite, the leaders, are able to make a difference from a growth mindset in taking the organisation forward.
Michael Murray 6:13
What are the traits that you see is great in a CEO that you’ve worked with?
Jacob Jacob 6:18
I think one of the key things is tell us. I think, look for the strengths in your direct reports and use, I mean use people to their strengths. Ignore the weaknesses which don’t really matter, one, and second is empower. Give them the ability to take risk. And I think CEOs must have a threshold level of patience to ensure that their, you know, their direct reports are able to take the organisation forward. So margin for error, risk taking, empowerment. These are three critical components that I think would help anybody in a C-level suite do their job effectively. And today, what most people don’t realise is, the world is watching you. If you think that you’re not being watched, whether you’re a public listed company or a private company, etc., there are a whole lot of people who are watching you. And one of the things that they look at your organisation is, do you have a leadership brand which makes a difference? So when you say so, right from, you know, your fundamentals obviously are your leadership, your culture, your value system, your purpose, etc. That’s a given. You can’t, I mean, there’s no differentiating factor on it. And these are the fundamentals of any business, you know, they need to have this, right. But more about that, there is something known as a leadership brand. What you stand for, what do leaders, you know, I would like to join this organisation. There are many organisations which where you understand that leadership is a brand by itself. And many people like to associate with the brand where leaders are known for their brand, what they do, what values they espouse, and that should be physically see,n not only in within the organisation, but they practice that outside the organisation in terms of various forums they go to, or wherever they are when they are representing in the organisation. That brand factor comes out very well.
Michael Murray 7:51
Well, Jacob, I’ve absolutely enjoyed this conversation. Thank you so much for being a part of “In the Boardroom”.
Jacob Jacob 7:56
Thank you so much. Thanks a lot, yeah.
