HRD strategies of ITC Ltd

HRD strategies of ITC Ltd

• 1.
  TOPIC: STUDY OFHUMAN RESOURCE DEVELOPMENT STRATEGIES OF ITC LIMITED. Presented By: Aathira Sugathan. (47) Saurabh Ghodke. (60) Sushmita Jaiswal. (63) Vaibhav Mudaliar. (73) Krutika Pachauri. (75) Shubham Telawane. (87)
• 2.
  Started on Aug24, 1910 as Imperial Tobacco Company of India Limited. Became India Tobacco Company Limited in 1970. Renamed as I.T.C Limited in 1974. Over the years, built a portfolio encompassing a wide range of businesses. Rechristened as ‘ITC Limited’ on Sept. 18, 2001. Current Turnover of US $ 8.7 billion & Current Market Capitalization of over US $ 45 billion. It employs over 25,000 people at more than 60 locations across India.
• 4.
   Achieve asustained competitive advantage in the business environment.  A futuristic visioning towards the growth of the company.  The ability to adapt itself to the contingencies emerging in the future.  To improve business performance.  To develop organizational cultures that foster innovation and flexibility.
• 5.
   ITC, beinga pioneer in the Indian business area, understands the value of people to the success of the organization.  Human resource department at ITC follows a proactive approach to future strategic issues.  Hence, ITC began the development of a People Strategy. This underpins:  commitment to attract, develop, support and retaining the best staff.  It provides strategic direction to guide and align people management efforts throughout the organization.  The HR strategy for the coming year is also prepared simultaneously along with the business strategy.
• 6.
  Source, attract andrecruit world class talent. Promote excellence in the fields of leadership and people management. Encourage and support staff in their continuing professional development. Provide staff with a diverse and supportive working environment. Develop efficient, transparent and responsive HR processes to support ITC business delivery.
• 7.
  ITC’s Corporate Strategies. ITC’sInitiatives. ITC’s Talent Management Strategies.
• 8.
   Create multipledrivers of growth.  Continue to focus on the chosen portfolio.  Benchmark the health of each business across the criteria of Market Standing, Profitability and Internal Vitality.  Ensure that each of its businesses is world class and internationally competitive.  Create distributed leadership within the organization by nurturing talented & focused top management teams for each of the businesses.  Maintain balance between executive freedom and the need for effective control.
• 9.
   Triple BottomLine contribution.  Implemented an extensive social Investments program.  Engaging with employees on a regular basis.  Providing personal development and growth, a work culture that ensures high levels of performance.  Developing agility and creativity to speedily embrace change.  Developing leaders from a pool of talented, passionate and diverse individuals.  Creating an environment where employees are inspired, engaged and aligned with the Company’s Vision, Mission and Core Values.
• 10.
   Attracting andnurturing quality talent supported by significant investments in learning and development.  Creating a responsive, stakeholder- centric and market focused culture that enhances organizational capability and vitality.  ITC encourages local employment in the workforce in manufacturing and hotels, depending on the availability of requisite skills.  ITC recruit quality talent from premier campuses across the country through an objective and robust selection process.
• 11.
   ITC givestraining & development to be future-ready and to meet the challenges posed by ever- changing market realities.  ITC's Training & Development initiatives include core Programmes of:  Leadership  Capability Enhancement  Skill(s) Development  Diverse capability building needs at various levels of the organization.  ITC training and development center is named Epicenter.  ITCs also have a robust e-learning platform titled ‘’PROP-EL’’ for their growing and global workforce.  ITCs have introduced a number of safety measures in their Units and have achieved international benchmarks in safety standard.
• 12.
  Training Methods at ITC. ON-THE-JOB TRAINING METHODS. OFF-THE-JOB TRAINING METHODS. PARTICULAR TRAINING PROCEDURE. TRAINING FOR DIFFERENT EMPLOYEES.
• 14.
   Step 1:Establishment of performance standards as per their service industry. For this one should be derived from company’s strategic goals and job analysis and job description.  Step 2: Communication of performance standards to employee who are working in the service industry.  Step 3: Measure performance by using information from, personal observation, statistical reports, oral reports, written reports, comparison of actual performance with standards in service industry.  Step 4: Discuss appraisal system with employee and identification of corrective action where necessary in service industry.