Among India's Best Employers in 2003 |
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 Rendered
unrecognisable by the nom de guerre, E6EF it was Tata Steel’s Human Resource
practices - recruitment policy, development & learning, work environment, rewards
& recognition, health & well-being, balance of work and personal life for
employees as well as financial security for them - which ensured that it was counted among
the top companies in a survey conducted to determine the Best Employers in the country. The company was ranked sixth among India’s Best Employers in 2003 by Messrs Hewitt Associates and Business Today. Responses were gathered through an Employees’ Survey, a Peoples Practice Inventory, a CEO’s Survey and on site evaluation to determine the year’s ratings. The who’s who of Indian industry, including multinational companies in the country, are part of this much sought after assessment of people management practices of different companies. The ratings and comments were given to a jury of eminent personalities, without the name of the company being mentioned, to allow them to arrive at a final decision. A company’s ability to succeed depends on its people management practices and the survey provided participating companies with a clear assessment of where they stand. 5 factors that most impact a company’s ability to succeed The Managing Director, Mr B Muthuraman listed the following factors as being most important to Tata Steel’s ability to succeed today: First, the quality of leadership Second, acquisition and retention of talent Third, knowledge management Fourth, mergers and acquisitions and industry Fifth, organisational culture
The three factors that Mr Muthuraman stated he personally uses to convince candidates to join Tata Steel are : the company’s Value Systems, its philosophy of Total Return to Community, its corporate culture; the freedom to work, freedom to fail, and freedom to innovate; and the strong growth path that the company is on. Tata Steel’s people focus has been well documented. Its Vision 2007 was co-created by 4000 employees and was cascaded to 46,000 employees. Its CEOs have always given great importance to regular and extensive communications. Today, well designed HR processes including those for induction, performance management, talent review, training and compensation, which attempt to ensure parity, transparency, flexibility and motivate high performers, as well as the company’s emphasis on leadership development has ensured that Tata Steel has become the cradle of CEOs for the Tata Group.
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