Managing human resource challenges is critical to the growth of a corporate in the current competitive business environment. Public sector undertakings are the preferred poaching ground for private players when they enter business areas that have been preserves of state-owned companies.
PowerGrid, which is responsible for laying and maintaining national power transmission lines, has been operating as a virtual monopoly. However, the scenario is changing now, with the government keen to attract investment from private players in long-distance power transmission infrastructure projects. Its current attrition rate is 1%, which can rise sharply if poaching by private players intensifies. However, the company is confident that it will continue to remain an attractive destination for quality talents because of its strong growth prospects.
?Well, human resource is going to be the key determinant of our success in coming years. However, PowerGrid is well placed to attract and retain talent given that we hold 95% market share and the company continues to grow through capital expenditure?, VM Kaul, director (personnel), PowerGrid, told FE.
The company is going to spend about R1 lakh crore in the coming 12th Plan period on developing infrastructure. The central utility is hopeful that its growth prospects will help it attract and retain quality workforce. ?Since we are growing, there is an opportunity for people to participate in our growth,? Kaul told FE.
Besides, the company thinks use of new technologies will be an incentive for young people to join it. ?We are introducing latest technologies, which are a great attraction for young professionals,? Kaul said.
The company is also investing in its employees to improve their leadership skills. ?We have ensured that every employee gets one week of managerial training. We have also enured that all employees above the GM level have global exposure by way of training or foreign assignment,? Kaul said.
?Our work-life balance is also better. We work hard because our targets are very tough. But at the same time, we also provide opportunities for staff to enjoy and relax. That is the reason people who join us stay with us,? he added.
The company has, meanwhile, aligned its Corporate Social Responsibility with human resource development. ?We are making profits but our projects also cause displacement of people. So our policy is to provide help to the local population in terms of infrastructure and skill development?, Kaul said, elaborating on the company?s CSR vision.
The company is training about 1,000 people affected by its projects for absorption in the company. Besides, it is also sponsoring 20 students this year for preparation for IIT and NIT entrance tests. It has earmarked R25 crore for CSR activities this year.