When Vineet Nayar became CEO of HCL Technologies in 2005, the company was in trouble. The IT firm was profitable but it was losing ground to major competitors and risked slipping into irrelevance. Some CEOs might have been tempted to hire a new team of executives from the outside to revitalize the company. Not Nayar.
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HCL Technologies CEO Vineet Nayar responded to the recent global recession by placing employee satisfaction ahead of customer satisfaction. The result was a bounty of winning ideas that translated into more business at the expense of competitors.