“Vedanta’s leadership programmes focus on the stars of the business, the engagement level of high potentials and developmental measures to help high-performers refine and hone their leadership potential.”
A company and organisation is only as strong as the people who help run it, and for the India-based company Vedanta Limited, there are 55,000 direct and indirect employees who power the global diversified natural resources company.
The staff turnaround/attrition rate at Vedanta – 5.38% — is lower than the industry average, and there are numerous measures and policies in place that both attract and retain the talent at Vedanta.
At Vedanta, the emphasis is on the freedom for the staff to learn, to lead, explore, experiment, innovate and evolve as both a professional and as a person. This is the approach which has led to the retention of staff.
The company focuses on utilising and developing talent by giving them exposure across businesses in order to experience new roles and also as part preparation for taking up key leadership positions in the future.
Additionally, there are various development programs for employees that include skill mapping exercises to help identify skill development needs, the identification of top talent through succession planning and the sabbatical learning program to build in-house talent.
Communication is an essential ingredient that Vedanta has identified in helping smooth areas of concern for employees and energising their performance. Different meetings with specific agendas are encouraged, such as quarterly townhall meetings, monthly operations reviews and the monthly Employee Connect meetings to engage with the leadership teams.
Teambuilding activities have become part of the corporate culture at Vedanta, which include the half-yearly Outbound training quarterly internal and external workshops, half-yearly SWOT exercises and annual Vision workshops.
The management considers Internal Growth Workshops as the key space in which internal talent are promoted to leadership roles and this exercise is “the hallmark DNA of our Group.” These Internal Growth Workshops are used to identify new leaders in core functions across businesses. The process is a structured one and it allows top performers to share their major contributions, achievements and aspirations while the Chairman anchors and chairs the sessions.
The thriving culture of numerous training and development programs are supported by other measures such as the Chairman Award and Recognition for best innovation and variable performance pay for employees in certain grades.
Reward and recognition, given for outstanding performance, are effective tools for increasing motivation among the workforce. They also help create an environment of growth. There are various reward and recognition schemes at Vendata, namely Spot recognitions, special performer of the month, team of the month and super-achiever schemes, among others.
In the social sphere, Vendata takes care of its employees extracurricular well-being with multiple events, such as Family Connect, Fun Fridays, food festivals, festival celebrations and yoga and sports events. Building upon its employee friendly policies, the company’s maternity leave has been enhanced to 26 weeks, introduced an adoption leave for 12 weeks and a paternity leave for 1 week.
These practices blend together to make Vendata one of the top companies to work for in Asia. Research has revealed that the top three aspects that Vendata employees value most about the company are Individual Development Plans, the ACT-UP Accelerated Competency Tracking and Up-Gradation programs and the Leaders Connect program. These programs focus on the stars of the business, the engagement level of high potentials and developmental measures to help high-performers refine and hone their leadership potential.
Vedanta as a company involved in the business of natural resources, clearly understands that the most valuable resources are contained within the organisation: its people.
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