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Evolving comprehensive HR Policy in Oil Industry

Evolving comprehensive HR Policy in Oil Industry. Presented by: V C Agrawal Director (HR), IndianOil. Contents. Context Defining the problem Recommendations. Context. Higher rate of economic growth particularly during Xth plan and also likely to continue

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Evolving comprehensive HR Policy in Oil Industry

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  1. Evolving comprehensive HR Policy in Oil Industry Presented by: V C Agrawal Director (HR), IndianOil

  2. Contents • Context • Defining the problem • Recommendations

  3. Context • Higher rate of economic growth particularly during Xth plan and also likely to continue • Economic reforms initiated in early 90s leading to deregulation of Petroleum sector • In addition to competition in business, deregulation has resulted in to competition for talent • Spurt in E&P and construction activities • In India • Outside India

  4. Defining the problem Entry level talent • Demand / supply gap • Quantity with quality • Diversion of domain specific talent to general areas • Lack of appreciation of challenge and growth opportunities in petroleum sector • Perception of tougher work-life w.r.t. service / software sector • Comparatively better locations available in service/ software sector • Perceived higher attractiveness of other sectors like IT, telecom, retail, banking etc

  5. Defining the problem Experienced Professionals • Extremely difficult for PSUs to acquire due to lack of availability and compensation package • Pull from overseas job opportunities • Critical skills command for higher compensation outside India • Significant shortage globally and Middle East and Russia in particular

  6. Defining the problem Productive deployment • Under utilization of talent • Specialists vs generalists • Lack of initiative/ investment in development of talent • Lack of sensitivity towards individual’s needs • Generation gap • Changing lifestyle • Work-life balance

  7. Defining the problem Retention • Retention of mid career talent will be a sever challenge • NOCs in particular are highly vulnerable

  8. Defining the problem Compensation • Lack of differentiation • for performance • amongst various functions • amongst various sectors • between levels

  9. Defining the problem • Mindset shift from • Field job to white-collar desk job • Job security to instant money • Long term career development to short term rises • Intangible and ‘when it happens’ benefits like medical benefits etc offered by public sector have lost their attractiveness. • IT, ITes and MNC jobs more lucrative. • Negative vibes against PSU/ Govt. jobs at the leading campuses.

  10. Issues to ponder for Talent Acquisition • Do all our job profiles are technical in nature? • Do we need only high caliber people like Engineers and MBAs and CAs? • Can we afford to commit same career path to all? • Is not it time to look at the bottom of the pyramid to consider less qualified but resilient people? • Can we consider general graduates for more mundane jobs? • Can we differentiate the career path of the people taken at same entry level?

  11. Recommendations • Attracting Talent At Entry level • Time to look beyond “Professional Only” policy • Open and Campus Recruitment to leverage available best talent from market • More emphasis on nascent talent and employability rather than educational brilliance

  12. Recommendations • Attracting Talent At Entry level (cont.) • Recruitment has emerged as an area of relationship management (with educational institutes) • Giving support to the institutes for content development, project works etc. • Campus connect (employer branding) exercise to highlight attractiveness of oil sector and the company. Need to make students more aware of the sector and its potential as an employer

  13. Recommendations • On-boarding and Mentoring • The first impression forms the lasting impression. Hence on-boarding process for the new recruits requires to be in place • Important to manage the transition from academic world to professional world – from certainties to uncertainties. Hand holding his important • Mentoring process to be institutionalized

  14. Recommendations • Understanding changing expectation of employees • Survey amongst new recruits • Organisational Climate/ Employee Engagement surveys at regular interval

  15. Recommendations • Managing Employee Expectations and Delight • Progressive discrimination between performers and non performers • Re-engineering of compensation package • Employee self-service • Grievance redressal

  16. Recommendations • Developing bench-strength for critical positions • Identification of 2 successors against each critical position • Working out developmental needs for identified individuals • Bridging knowledge/ skill gap

  17. Recommendations Let us work together to: Attract the good Retain the better Advance the best

  18. Thank You

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