Why Thyrocare's Arokiaswamy Velumani believes in fresh talent hires

It was the repeated rejections from potential employers when he entered the job market that spurred Arokiaswamy Velumani to hire a lot of youngsters on his way to success in the healthcare business.

In an interview with The Federal, Velumani recounted his early career struggles, which included numerous job rejections due to limited English skills and lack of experience.

“In 1978, after completing my BSc, I faced numerous rejections in job interviews. This frustration led me to a pivotal decision: to offer opportunities to freshers and those struggling with English,” he said.

Hiring fresh talent

Over the next 25 years, he employed 25,000 freshers, emphasising the importance of investing in and nurturing young talent.

According to Velumani, this strategy was instrumental in founding what is now recognised as a diagnostic giant, Thyrocare.

By placing young employees in suitable roles and providing them with necessary training, he built a robust and capable workforce that contributed significantly to the growth of Thyrocare.

Velumani underlines patience

Thyrocare Technologies Ltd is a domestic chain of diagnostic and preventive care laboratories. In 2021, it had 1,122 outlets and collection centres in India, Nepal, Bangladesh and the Middle East.

Velumani spoke on the sidelines of Puthiya Thalaimurai TV’s flagship event, the Thamizhan Awards 2024.

The visionary behind Thyrocare shared valuable insights on entrepreneurship, the role of patience, and the benefits of living frugally.

Young entrepreneurs in hurry

He pointed out that many of those behind modern start-ups in India lack patience and maturity.

“Today’s entrepreneurs are often quite young, launching their ventures straight out of college. I didn’t start my business until I was 37,” he said.

Velumani observed that many young entrepreneurs mistakenly view funding as the sole barrier to success.

Funding is not everything

“Once funding is secured, new challenges inevitably arise. The lack of patience is a significant issue. Sustainable growth is not about achieving 40-50 per cent increases every year; it’s about steady, manageable progress.”

Velumani also discussed the concept of bootstrapping and his own approach to business growth.

“During my time, terms like ‘entrepreneurs,’ ‘VCs,’ and ‘bootstrapped’ didn’t exist,” he said.

Frugality won the day

Velumani’s choice to live frugally and avoid borrowing money was driven by his desire to build a secure, long-term business.

“I wasn’t in a rush; my goal was to create a sustainable business rather than seeking a short-lived, thrilling ride. I believed in a steady, sustainable approach to growth,” he stated.