4 PSUs find place in best employers list

NEW DELHI: Four of India''s brightest public sector enterprises have found a place in the country''s top 25 best employers list of 2004 released by human resources firm Hewitt Associates. National Thermal Power Cooperation is ranked at 3, IndianOil at 9, Gas Authority of India Ltd at 12 and HPCL 20.
For record, IOC has been on this list for three consecutive times and NTPC has been ranked at number three position for the second time.
What has surprised Hewitt is the pace at which the participation from PSUs has grown in the best employer list. "Two years back, we were really sceptical when PSUs wanted to participate. Now, we see a dramatic transformation,"said Purva Misra, consultant, Hewitt India and project director of the Best Employer study. Out of 272 companies enlisted in the study, over 20 are from PSUs.
What is striking is the way top Indian PSUs are providing financial and social security when their employees are in service as well as during post retirement. "This is the biggest inspiration for MNCs,"said Misra.
While top performers in PSUs may not get fat paychecks for productivity linked payment , it is compensated in new ways which cannot be measured with money alone. For example, medical benefits are extended to employees post retirement at HPCL. At IOC employees are free to choose their training programmes and once they are done an action plan is created to transfer learning to the job.
NTPC attributes its success to put "people first"practice. Further, NTPC has been able to use HR for strategic advantage like adding 5,000 MW of capacity without adding manpower, through redeployment and multiskilling.
GAIL believes in rotating senior mangers across functions. "This enables senior mangament to gain a broader perspective,"said GAIL. Also, GAIL’s rationalised transfer policy is intended to ensure transparency and reduce anxiety amongst the executives.
HPCL’s attributes its success from the belief that "people drive results and performance"in addition to balanced scorecard and six sigma processes.
Some of IOC’s best practices include hiring the best, recognising performance and rewarding excellence.