Initiatives include 18 parameters introduced in the past year to achieve Tata Quality of Life framework
The HR initiatives being rolled out at the Tata Group may be put on hold until there is more clarity on what the management wants after the sacking of Chairman Cyrus Mistry, said people in the know.
In the past year, the group under Mistry and Chief HR Officer NS Rajan had rolled out a series of initiatives for its over six lakh employees. These included a new competency framework to identify the next rung of leaders, long-term incentive plans via stock options, task force of CXOs to mentor the next line of leaders, as well as 18 parameters that would be essential to achieve the Tata Quality of Life standards.
“We have been told to wait for some time before implementing the parameters that will help achieve the Tata Quality of Life framework,“ a senior HR leader at one of the Tata companies said, speaking on the condition of anonymity.
Tata Sons, the group holding company, didn’t respond to an email seeking comment.
To achieve Mistry’s Vision 2025, the group had outlined a new range of competencies called `Tata Leaders-what defines us’, primarily a combination of knowledge, skills and attitude that would help it identify top potential employees. HR policies had become a key note in the former chairman’s address to his CEOs and was the main topic for the annual group leadership conference held two months ago.
A senior leader of an advisory firm that works with the group on HR said he was told that all bills for work done so far have to be cleared until there is clarity on further assignments. “Practically, some of the changes brought in were good and there is no reason to stop them,“ he said.
The advisory firm had suggested Tata group companies adopt a long-term incentive plan to retain senior managers. According to sources, some group companies have already adopted stock option plans.
“This is a normal response when leader ship styles change. Some policies may be retained, while others removed,“ said an HR veteran.
In a meeting on Tuesday Ratan Tata, the interim chairman, asked CEOs and MDs of group companies to focus on their respective businesses without being concerned about the change in leadership. “We will evaluate (current policies) and continue to undertake those that are required to. If there is any change, they will be discussed with you,“ Ratan Tata said in a press statement on Tuesday .
Source: Economic Times
Date: 27th October 2016