IIPM International Student Exchange Programme
Handpicking talent right from the campuses, nurturing them on the job and infusing a sense of ownership to a large extent helps in retaining talent at HCL. The highly dynamic IT industry is experiencing a staggering attrition rate of around 20%. Some companies have even gone ahead, claiming a massive 30% attrition. However, HCL has an altogether different take on the attrition issue. The rate of attrition for younger employees – who have been a part of HCL Info systems – for less than five years - is around 15-18%. However, the attrition figure for employees who have been around for more than five years, it is a miniscule 5%. Punekar feels that the younger lot coming in today is simply short of direction. They are in a hurry to reach the top and hence resort to job hopping, but once they stick around in an organisation for more than five years, then they prefer to stay.
Talk to Punekar for sometime and one more aspect of his personality that shines brightly is his passion – not only for the company, but also for the work he does. No wonder, this HR veteran has inculcated a culture driven by ‘passion’ in the company as well. Today, HCL in industry circles is known as a company driven by passion, where passion even takes precedence over processes. All of these show HCL as being a very informal organisation. But informal does not mean that the employees are left altogether to do as they like. Like all known organisation, HCL too has in place a proper performance appraisal system whereby employees across the country are constantly monitored with the help of the right soft wares. The HCL philosophy is simple: ‘what gets measured, gets reviewed and what gets reviewed, gets improved.’ States Punekar, “We’ve a matrix to measure performance of the employees on a daily basis.” At HCL, performance results in handsome rewards and the right kind of remuneration. Punekar further reveals, “We have pioneered a lot of things as far as rewards are concerned. We were the ones who introduced the concept of profit sharing and also the first ones to bring the concept of ESOPS in India.” In fact, by 2005, HCL had covered all its employees under their ESOPS programme.
Rewards aside, HCL also knows how to touch the heart of its employees. In 2001, HCL contributed and encouraged its employees to build their own houses under a project called HCL Towers. In addition to it, to make life simpler for employees, HCL provides facilities like transportation, administrative facilities et al. Though HCL may justifiably claim not to be a full-fl edged soft ware focused company but one cannot deny that for this ‘Entrepreneurial Incubator’ of the Indian IT industry, HR certainly ensures that the HCL garden is always blossoming with talented and well-managed human capital.
(H)uman (C)onduct (L)ist
- Calls itself a campus organization as trainees are picked up straight from campuses.
- Received the highest rating of Five Star in the ‘Dataquest-IDC Best Employers Survey,’ 2005.
- HCL wins IMM Top Organisation Award 2007 for Excellence. Human Resource Development was one of the key parameters for the award.
- HCL Support wins the DQ Channels-2006 Gold Award for Best After Sales Service on a nationwide customer satisfaction survey conducted by IDC.
Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
For More IIPM Info, Visit Below....
The Sunday Indian - India's Greatest News weekly
IIPM Mumbai Parables - Stories that change life
IIPM, ADMISSIONS FOR NEW DELHI & GURGAON BRANCHES
ARINDAM CHAUDHURI’S 4 REASONS WHY YOU SHOULD CHOOSE IIPM...
IIPM Economy Review
IIPM :- Cicero's Challenge is going global
The Indian Institute of Planning and Management (I...
Time for Awards at IIPM
STUDENTS AGAINST CORRUPTION & KICKBACKS : SACK
Heavy dut(t)y stress Sanjay Dutt Bollywood Actor
The Business of B-School Rankings & The Big Farce