Central public sector enterprises (CPSEs) increasingly focus on planning for their employee requirements in the future, but tend to fall short when it comes to recognising and rewarding the talent of existing staff, shows a survey by Hewitt Associates.
According to the survey, conducted among key CPSEs, all the firms give priority to strategic workforce planning with a 3-5 year perspective to create multiple access points for sourcing talent. However, when it comes to building and strengthening recognition mechanism to award the performers, they are not proactive.
Strategic workforce planning is among the top four priorities for CPSEs in manufacturing, oil & gas, power, mining and services sectors, but recognising the existing staff figure in the second half of their priority list, the survey, conducted in association with the Confederation of Indian Industry, found.
Hewitt Associates studied the human resource (HR) practices in 10 firms?Balmer Lawrie and IRCTC in the services space; Engineers India and Bharat Petroleum Corporation in the oil & gas sector; Hindustan Shipyard, Garden Reach and Bharat Earth Movers Ltd in the manufacturing sector; NTPC in the power sector and Coal India and NMDC in the mining space. An analysis showed that the firms were divided into four categories?nascent, developing, capable and mature?based on the scores.
In the overall analysis, power sector firms were found to be capable of retaining the existing workforce and attracting new talent. They were concentrating on all the aspects of HR?from recruitment and induction to training and development.
CPSEs in the oil & gas sector were also categorised as capable but were placed lower than those in the power sector. Companies in mining and services sectors were still in the developing stage, the survey showed. While all the firms focused on recruitment and induction of new talent, companies in the mining, manufacturing and services sectors were found wanting in developing leaders within the organisation.