HR Strategies of Tata Steel
HR Strategies of Tata Steel
HR Strategies of Tata Steel
TEAM-B
Submitted by
Rahul.B (21MB054)
Prahatheeswaran. S (21MB046)
Saurabh. M (21MB070)
Sagar. R (21MB062)
Sudharsan. S (21MB078)
Synopsis
1. Introduction
2. HR Strategy
3. HR policy and HR practices
4. Conclusion
INTRODUCTION
The Tata Steel recognise that people are the primary source of their
competitiveness who they have always put first in all the initiatives. Their
beliefs in employee welfare is corroborated in the several ‘firsts’ in employee
welfare measures that Tata Steel introduced over time. In India, these include
the 8-hour Work Day at their Jamshedpur plant in 1912, the Leave with Pay
scheme in 1936 and the Workers’ Provident Fund Scheme in 1920 – all of
which were subsequently adopted by the International Labour Organisation and
enacted by law in India.
HR Strategy
Man Power Planning
Man power planning enables HR department to project its short to long term
needs on the basis of its departmental plans so that it can adjust its man power
Requirements to meet changing priorities.
Performance Appraisal
Performance appraisal assesses an individual’s performance against previously
assigned work objectives. Performance appraisal is normally carried out once in
a year. They assess key result area of their employees, workers and supervisors.
Since it is a joint responsibility of the individual and supervisors; every
individual in Tata Steel are Co prime to each other. It also enables management
to compare performance and potential between employees and subordinates of
same rank. Rating of employees is done by their performances. It is given as per
ranks very good, average, and average to medium and below average. On the
basis of these rankings highest reward of the year is given to best suitable
worker. The better performing employee gets the majority of available merit
pay increases, bonuses and promotions.
Compensation Planning
1. It depends on financial capabilities
2. Yearly Increments are given
3. Compensation for inflation is common for all employees
4. Individual performance bonus is also given
5. It is paid as per other industries
Tata Steel provide equal opportunities to all the employees and to all eligible
applicants for employment in their company. Tata Steel do not unfairly
discriminate on any ground, including race, caste, religion, colour, ancestry,
marital status, gender, sexual orientation, age, nationality, ethnic origin,
disability or any other category protected by applicable law.
Developing People
Valuing its people as a great asset, Tata steel is committed to their development,
both in order to benefit the company through increased knowledge and skills. In
order to leverage maximum potential of human resource to achieve business
objectives the company recognises that enrichment of people will help retain a
motivated workforce in a competitive environment.
They conduct regular checks to ensure that first aid centres across their plants
are well-equipped and manned by experienced doctors and paramedics. The
‘Doctor at Doorstep’ initiative sees teams of doctors, technicians and nurses
visiting Tata Steel employees on shop-floors to counsel them on lifestyle
management and treatment at Indian operations.
Conclusion
From its very Beginning, Tata Steel has been a showcase for worker welfare
schemes. Today, the Human Resource Management function is a strategic
partner in their business. Tata Steel firmly believe that people are their greatest
asset and they adopt best practices to ensure healthy employee relations,
employee growth and development and as well as work satisfaction.
Tata Steel have, over the decades, implemented trendsetting policies, the most
recent being the first in the manufacturing industry to have a 5-day work-week
and also a new human resource policy that allows its employees from LGBTQ+
community to declare their partners and avail all HR benefits permissible under
the law. Tata Steel were also declared as the ‘Best Place to Work in the Core
Sector’ in the Business Today, India Survey 2016.
Sources:
1. https://www.tatasteel.com
2. Wikipedia
3. https://www.thehindubusinessline.com/companies/with-hr-benefits-tata-
steel-embraces-lgbtq-employees/article30243156.ece