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Hey folks! Thanks for joining us on another insightful episode of the Leader Show with Lou Carter. Today, Lou interviews Anirudh Devgan, the president and incoming CEO of Cadence Design Systems, a technology company based in San Jose with 9,300 employees worldwide.
Cadence was ranked 7th on the 2021 Most Loved Workplace list due to its focus on diversity and inclusion, including an employee group for underrepresented individuals and allies. With that said, let’s jump into the conversation with Anirudh and find out what makes Cadence Design System a Most Loved Workplace®.
Lou starts the conversation by asking Anirudh Devgan how the company places love at the center of its business strategy. In reply, the incoming CEO explains that, as a software business, Cadence relies on the creativity of its employees to produce the best products and innovation.
To empower employees, the company focuses on both career and personal fulfillment. Employees who feel loved and empowered are likely to deliver the best results. On that note, Carter highlights that research shows employees who feel loved in their workplace are three to four times more productive than others.
Next, Louis asks Anirudh about how love in the workplace manifests itself and creates a “one-team culture.” Devgan reiterates that employees who feel loved and motivated produce better business results for customers, creating a more collaborative and innovative workplace.
The CEO refers to this as building a “one-team culture,” which extends beyond employees to include customers, ecosystem partners, and community contributions in the process of creating products.
Carter likes Devgan’s approach, which emphasizes the importance of collaboration, not just innovation, and encompasses a wider ecosystem beyond just the company’s employees.
Anirudh also explains how having the right talent is essential to producing the best products and innovation for Cadence’s customers. Additionally, a diverse workforce ensures a wide range of ideas. He notes that talent is everywhere and that having a diverse team ensures that innovation is grounded in the right talent.
Louis notes Cadence’s positive vision for the future and emphasis on collaboration and love can create a sense of engagement and excitement for employees. As CEO, Anirudh reaffirms his statements and explains the importance of augmenting the company’s purpose with both career and personal fulfillment for employees. There is a pressing need to integrate what employees care about in both areas.
He notes that Cadence sets up policies for teamwork, rewards, flexibility, and benefits and also provides time for employees to take care of their personal lives.
The idea of integrating career and personal fulfillment is commendable, but how does Cadence communicate this to incoming employees? Mr Devgan stresses on the importance of offering equal opportunities and boundaries without limits to motivate employees to do well in their careers based on their performance.
Additionally, he highlights how Cadence supports employees in their personal lives, such as offering benefits for fertility treatments, flexibility in location, and paid time off, including recharge days during the COVID-19 pandemic. Lou only has praises for Cadence’s approach, which is treating employees like family and caring about their work-life balance.
Next, Mr. Carter highlights that a mindset of continuous improvement is important for any organization to succeed and stay ahead. Anirudh agrees and states that it’s important for a person to have passion for what he does. Also, they should not expect overnight success but instead should keep working hard and be disciplined.
To excel in his field, a person also needs to be data-driven and be able to work with people and listen to and understand them because he strongly feels that it’s a team sport. Apart from that, Mr. Devgan emphasizes learning from mistakes. An employee should realize that they are not going to be successful until they make mistakes.
Lastly, citing his company, Cadence, he states that there are a lot of things that they could do better. And notes that the one way to do that is by talking to their employees and customers regularly and focusing on continuous improvement.
When asked to share more about his journey so far in the business world, Anirudh mentions his upbringing and family values. He strongly feels that they have played a significant role in shaping his philosophy of leadership and his drive for continuous improvement.
Growing up in a household of educators, education and ability were always his key focus. However, he recognized that having talent alone wasn’t always enough to succeed. It was the combination of ability and drive, along with inspiration and a sense of purpose, that was crucial for innovation and success.
Anirudh and Louis discuss a lot more on this episode of The Leader Show. Share your thoughts with us at info@bestpracticeinstitute.org
Thank you for listening.
