Human Resources
PEL’s Human Resources function embarked on an extensive transformation journey called SEEDS (Strategy for Employee Engagement and Development Support) in 2014. A core theme of this journey has been to ‘create an environment where employees can thrive and are enabled to deliver sustainable organisational performance’.
PEL’s people initiatives focus on enabling its diverse and global workforce to consistently deliver on the Group’s purpose of ‘Doing Well and Doing Good’ and facilitating a value driven, high-performance culture.
The key headcount numbers are as follows:
DOING WELL – ENABLING SUSTAINABLE ORGANISATION PERFORMANCE
Augmenting Performance through HR Technology
The Human Resources function has facilitated improved decision-making and real-time monitoring of the overall health of PEL’s human capital by leveraging a cloud-based intelligence platform that links key business metrics to people metrics. The advent of employee-centric applications including The MyPiramal HR Management System and the Payroll application (MyPay), continues to significantly enhance employee experience. The consolidation of payrolls and payroll-related compliance has not just strengthened controls and data privacy, but has also helped optimise costs of payroll operations and payroll compliances by more than 25%.
7,820Employees
45Locations
18Countries
Recognising Exceptional Value-driven Performance
Chairman’s Award, a group-wide recognition framework, was launched during the year to celebrate individuals who exemplify the Group’s philosophy – values create enduring value and exponential performance and impact. In the first edition of the Chairman’s Award, out of 500+ nominations, 53 employees across the globe were felicitated for their exceptional contribution.
Institutionalising a Robust Leadership Pipeline
Nurturing Home-grown Leaders
The central objective of PEL’s talent development initiatives is to grow our own leaders and ensure every critical role has a ready successor identified and groomed. Our high-potential development programmes are aimed at preparing our top talent to take on next-level roles:
IGNITE: The programme identifies and develops young leaders from junior management to take on mid-management leadership roles. The participants undergo an 18-month development journey that includes multiple aspects of functional and leadership learning.
ASCEND: The platform selects and grooms high-performing employees at the middle management level for senior leadership roles. High Potentials, who qualify, undergo a one-year structured development process through virtual learning platforms in partnership with Harvard Business School.
SUMMIT: The leadership programme focuses on preparing senior leaders to become successors to the CEOs of PEL businesses. Senior leaders define their own ‘business mandate’ – to act as true entrepreneurs of their business units or functions.
- The Company aspires to have 60% of the open positions at senior and mid-management levels staffed by internal promotions of high potentials in a 3-year time frame
- 360+ nominations were received, out of which ~180 high performers have undergone the ASCEND programme. Of this, 105 were identified as High Potentials
- 58 senior leaders are currently being groomed for top management under the SUMMIT programme
- 800+ applications were received, of which 67 IGNITORS have been identified across 2 cohorts
Piramal Group’s unique campus engagement initiative, TANGRAM: Students from premier business schools are provided an opportunity to engage with the organisation through a creative and interactive learning experience. Additionally, at an entry level, the Company’s flagship campus programmes focus on bringing in high-quality talent from leading institutes. 75% of new hires are in the top 3 performance ratings in their first year.
Bespoke High-impact Learning through Academies
The Piramal Learning University provides high-impact learning solutions catering to the unique learning needs of employees across the globe. Modelled on the philosophy of continuous learning, the Leadership Academy and other functional academies at PEL offer personalised learning journeys to build identified behavioural, functional or technical capabilities of employees. Today, the Piramal Learning University provides bespoke learning solutions catering to the unique learning needs of 15,000+ learners across businesses and geographies. 27,000+ online learning modules have been accessed by over 5,000 active learners through the Piramal Learning University Virtual Campus till date.
The Induction Bootcamp: This programme of Piramal Housing Finance has been institutionalised to enhance productivity of new hires by providing blended learning experiences facilitated by instructor-led training, e-learning and on the job simulations within the first week of joining. This has helped in driving standardised ways of working and a value-based culture, and has played a critical role in PCHFL being consistently recognised as a Great Place to Work over the past few years.
OWN IT: To establish integrated ways of working across the diverse and geographically dispersed workforce of the Pharma Solutions business, the initiative focuses on empowering employees to act like entrepreneurs and work collaboratively across diverse units to ensure customer delight while keeping patients at the core of all that the business does. This internal mission has been cascaded to 4,000+ employees across geographies through leader-led workshops and projects taken up by employees in different functions.
DOING GOOD – VALUES BASED AND INCLUSIVE CULTURE WITH CARE AT THE CORE
Our philosophy is to institutionalise a value-driven high-performance culture and build an employee base, which is as diverse as our customer base to ensure we are able to deliver continuous value to our diverse customers.
Diversity at PEL
At the heart of PEL’s diversity agenda is the promise to be an equal opportunity employer. The PEL’s code of conduct emphasises the Company’s commitment towards supporting diversity in hiring and promotions across levels. Gender diversity is the first area of focus in building a culture of diversity and inclusion.
Women Employees Comprise
15%Of the workforce
38%Of the corporate level
25%Of High Potential employee
27%Of IGNITE participants
Safety at PEL
The Company is committed to build a safe and inclusive workplace and has a Zero Tolerance policy towards any form of discrimination, including sexual, racial or other unlawful harassment, threats or acts of violence or physical intimidation, abuse of authority or any other discriminatory conduct. PEL is a 100% Prevention of Sexual Harassment (PoSH) compliant through the 14 Internal Complaints Committee (ICC) panels that were institutionalised across all the Indian sites to swiftly address any incidence of sexual harassment, bullying or misdemeanour. Awareness campaigns are regularly conducted across the organisation to sensitise employees.
Embedding a Consistent Understanding of Our Values across Piramal Group
- Continuation of Values Cascade: The Company uses innovative learning methods such as LEGO® SERIOUS PLAY® to gain insights into how values have seeped into the culture of the organisation. This technique has helped make abstract concepts of values more tangible and concrete to employees.
- Values Dialogue: A focused action on role modelling our core values of Knowledge, Action, Care and Impact was initiated through a Values Dialogue Process with the top leaders of PEL. This process, conducted by the method of appreciative inquiry, is intended to encourage values-aligned behaviour right from the topmost echelons of the organisation.
- Piramal Success Factors (PSFs): PSFs is a framework of everyday high-performance behaviours based on the Company's values, which has been customised for various levels in the organisation. The Company has partnered with world leaders in personality assessment, to administer the Person Job Match report based on the PSFs for all new joinees. Additionally, hiring managers are being encouraged to use the Behavioural Event Interviewing (BEI) technique to interview candidates during the recruitment process – the BEI is also based on the PSFs.
Inclusivity at the Workplace
- Flexi-work policies: PEL’s flexi-time policies empower employees to balance their personal and professional commitments.
- Childcare support: The Company provides childcare support to employees who have children below the age of six years. An in-house crèche was launched at the Kurla office in Mumbai. PEL also collaborates with childcare facilities in a 5-km radius for other offices in Mumbai.
- Parental Support Programme: The Company adopts a gender-neutral leave policy for the primary caregiver and has in place a Parental Support Scheme.
