Leadership
Purvesh Kapadia of Refex Group: A paradigm of ‘exponential’ growth
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Purvesh Kapadia, CHRO of Refex Group, is turning human resources into a growth powerhouse.
In future-forward organisations, HR is no longer a back-office function – it’s the engine room of strategic growth. At Refex Group, this transformation is spearheaded by Group CHRO Purvesh Kapadia, whose approach to leadership capability blends strategic foresight with empathy.
Speaking on the podcast People Matters Unplugged with host Cheshta Dora, Purvesh laid out a vision for organisational growth that is anything but conventional. It’s not just about adding value. It’s about multiplying it – and eventually reaching an exponential scale.
Purvesh’s growth philosophy is encapsulated in a simple but powerful formula: from X + N (incremental gains), to X × N (multiplicative growth), and finally to Xn – a paradigm of exponential impact.
When you want to create a big leap in whatever sector, you need to really evolve from X raised to N,” Purvesh said.
Build, buy, borrow, BOT
This mindset extends to how Refex develops leadership across its diverse business units. Instead of choosing between building internal capabilities or hiring external talent, the company does both – strategically.
“Build and buy is a balancing act,” Purvesh explained. “Sometimes, building talent in-house won’t match the pace at which the business needs to grow. That’s where you bring in externals – not just to fill gaps, but to scale capability.”
Another talent strategy – borrow – reflects a more tactical, short-term approach. Purvesh frames this in operational terms: borrowing expertise allows the company to avoid heavy capital outlays while meeting pressing needs. “But we go one step further,” he added.
We use a Build-Operate-Transfer model where the borrowed expertise eventually becomes a part of our core.”
A more meaningful approach to business
Yet, these talent strategies wouldn’t yield results without a strong cultural underpinning. Refex’s value proposition goes beyond profit to become profit with purpose. “Most companies stop at ‘making money now and forever,’” Purvesh said. “We add a comma and one more word: ‘ethically.’ That’s where the real difference lies.”
This ethical stance shows up in Refex’s employee ownership strategy. With 40% of employees now ESOP holders, Refex is turning employees into shareholders, shifting the dynamic from employer-employee to partners in growth. Such an ownership model boosts not just retention, but also accountability and innovation. “When people feel like co-owners, they act like it. They go the extra mile – not just for a bonus, but because they have skin in the game,” Purvesh said.
The proof lies in the data. Refex has found a direct correlation between its ESAT (Employee Satisfaction) and CSAT (Customer Satisfaction) scores.
Your internal customer experience reflects in your external customer service. It’s a mirror,” he said.
Ultimately, Purvesh’s leadership philosophy revolves around long-term value creation – for people, for the company, and for the wider ecosystem. “Whether someone works for you, with you, or wants to work with you, the goal should be the same: create value and grow together.”
In a world where many organisations are still chasing growth for growth’s sake, Refex Group offers a compelling alternative – one where growth is shared, ethical, and built to last.
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