The primary goal from a HR perspective is to a build a robust and agile world class organisation with a culture of high performance embedded in a value system that promotes respect for individuals, diversity and entrepreneurship.
In 2009-10, the organisation was recast into SBUs. The Company has continued this transformation exercise through various people development initiatives. In the course of 2010-11, a number of learning initiatives were carried out. These included management development programmes for graduate engineers, training on structured problem solving, technical as well as behavioural aspects, and safety. During 2010- 11, 5,900 man-days of training was imparted.
The Company has a special focus to identify and nurture leadership talent within the organisation. Assessment Centers were conducted to identify high potential employees to be designated as Star of Business. In 2010-11, 34 such stars were identified, and individual development plans were created to ensure their career progression in the Company with challenging roles and assignments.
The Gen-next Operational Leadership (GOLD) programme launched in the previous year continued into 2010-11. The first batch completed the programme successfully & a second batch of 37 high potential employees has been inducted.
Equity-based awards in the form of a long term incentive plan (LTIP) are offered to recognise key, high performing employees of the Company. LTIP facilitates alignment of the interests of management, including younger high potential future leaders, with those of the shareholders. It has proved to be an effective motivational and retention tool for high calibre people.
The Company has also rolled out web-based initiatives called 'Anytime Learning' and an e-library. Through self-learning modules, these platforms encourage knowledge sharing and provide opportunities for employees to upgrade their technical and managerial skills.
During 2010-11, an innovative method of workforce engagement called the 'Idea Mela' was undertaken, which was aimed at collecting employee suggestions. Most workforce ideas were related to productivity improvement, cost reduction, better safety / environment practices, quality improvement and employee welfare. Over 5,000 ideas were collected from 2,000 employees, of which 75% were from workmen. Some 600 ideas were considered feasible. These are being implemented. Already, the ideas have resulted in a cost saving of Rs. 2.5 crore.
To promote operational efficiencies and be in tune with global best practices in mining and other functions, employees attended different training programmes, conferences and visited some of the world's best mines during 2010-11. Areas of study included benchmarking, mergers and acquisitions, sustainable development, mining logistics and climate change.