HR Strategies in Place in your Company
ISMT Ltd. is a leading manufacturer of carbon/alloy and bearing steels,
seamless tubes and tube based products. The companys corporate office is
located at Pune, India. It has a steel producing unit at Jejuri and two
tube making units at Ahmednagar and Baramati; all three units are
within a radius of 200 KMS around Pune. In addition, the company also
has a tube finishing (cold finishing) factory at Storfors, Sweden and
sales offices across Europe and the USA.
ISMT Ltd. is a global leader
in the production of Engineering Steels and Precision Seamless Tubes.
ISMT Ltd. serves a worldwide customer base.
ISMT Ltd. is an
integrated manufacturer with a captive power plant that empowers it with
full supply chain control. With over three decades of manufacturing
ISMT Ltds competitive advantage lies in its highly
qualified and potent Human Capital and its unrelenting focus on
improving quality, being engineering driven and application oriented.
475,000 MT of seamless tube and 350,000 MT of steel making capacity,
ISMT Ltd. manufactures a very diverse range of products that find
applications across industries like Power, Oil & Gas, Automotives,
Hydraulic Cylinders and Line Pipes, Drilling & Mining, Construction
and General Engineering etc.
You may never see ISMT Ltds products, but they touch your life everyday...
HR strategies of ISMT Ltd.
objective of the HR policy at ISMT Ltd is to create and maintain a
young, self- rejuvenating, motivated, lean, cost-efficient and
performance oriented organization.
The HR strategy to achieve the objective is -
1)Identify, nurture and retain key talent
3)Reward/ Encourage learning, team work, creativity, innovation and Entrepreneurship.
4)Create an equitable and fair salary structure.
5)Transparency in work culture.
Today trends seen in HR
Following trends are being seen in HR-
1.HR as Change Agent
2.Skill / competency mapping through proper HR initiativesas highly skilled and knowledge based jobs are increasing.
3.Role of HR in multi skill development.
4.HR to address people centered issues.
5.New practices like six sigma.
6.Human Resources Outsourcing
7.Creating and Enabling culture.
8.HR has started working on retention strategies.
Difficulties in Planning Human Resource in an ever changing business
1.Resistance by Employers and Employees
2.Uncertainties due to
absenteeism, seasonal employment, labor turnover, changing
technologies, market conditions making HRP less reliable.
of Information systems- Information system regarding human resources
has not yet fully been developed due to industries giving low status to
personnel department and less importance given to HRP. Further the
reliable data and information about the economy, other industries, labor market, trends in human resources are not available.
Relationship of HR with the CEOs
As HR professionals increasingly strive to become strategic partners
with top management, their relationship with CEOs takes on new
Focusing on the basic rules of Business is what would drive HR from backroom to boardroom-
- Productivity: HRs focus on productivity with getting the basics right will be key to drive the organizational success
- Bottom-line orientation: Tie everything to Business objectives.
- Turn performance management into productivity enhancement;
- Turn training to capability building
- Compensation management to talent pool cost
- Hiring to quality of hiring
- HR operations to Shared Services
- Understanding the Business deeply: HR might be making everything
measurable and building fantastic Cost benefit Analysis (CBA). But if
the organisational operational objectives are not aligned with what HR
are presenting, its bound to get knocked off in the first instance. What
gives HR credibility is astute understanding of Business facts.
you have to be best at your core function. All the above is achievable
if you have build your credibility by delivering and over-achieving your
- Employee advocacy: Business view is a must for HR however how HR
relays the employee perspective to management is equally important. Can
HR provide this fair and firm view without losing sight of business is
the question which wins trust and confidence of the management?
Motivating Employees with Rewards
We have many options for motivating employees to perform well in our
organization. For example, job rotation and job enrichment bring in
additional challenges and experience. We also motivate our employees by
offering training courses that enhance their skills and knowledge. The
other ways of motivating employees are-
1)Raise in Salary
4)Employee recognistion like Employee of the Month .
Different Qualities looking while hiring people
While hiring a person, three things are most important- Knowledge,
skills and attributes. There are certain other qualities which can
offset job experience and qualification requirments :
10.Appearance and Dress
11.Open Minded Flexibility
Identifying Leaders promoting them to the next level
The identification of a potential candidate is done thorough an online
assessment system. Information on performance is taken from the
appraisal review process and the KRAs on the job while the information
on behavior is taken from multiple sources.
The company conducts an
annual review of all the persons who are capable for occupying
leadership positions is the organization. The review is conducted by a
committee consisting of top management.
The output of this review is
to promote a person who has the requisite experience, skills, knowledge
and qualification of taking us that assignment.
Any vacancy in the
organization in management cadre triggers a promotion review. The
guiding philosophy for conducting such review is the managements first
priority to promote a person internally.
The input information to this review is provided by the HR to the committee.