Nurturing talent in-house to build a system based on freedom & driven by passion is clearly the HCL way…

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Life begins from a seedling. One might have seen a gardener planting a seedling in the moist soil and gently sprinkling some water on it. Under the watchful eyes and care of the gardener the seedling finds it roots and eventually starts to take shape. Vivek Punekar, Vice-President, HRD, HCL Infosystems, believes in playing a role similar to that of a gardener. “We handpick people from various campuses across the country and then groom them in-house so that they can brace up leadership positions later on,” elaborates Punekar. Little wonder that 90% of the top management cadres at HCL today are the ones that had joined the organisation as management trainees & have carved their paths to reach top positions at HCL.

A gardener also effectively plays the role of a facilitator, ensuring that the seedling is exposed to enough sunlight that helps in the strengthening of its roots and has adequate access to water at all times to foster its continuous growth. Punekar too follows a similar approach by exposing the young blood in the organization to different challenges so that they easily get accustomed to the work-life and also provides them with a support system in case things get a little out of hand. In today’s IT boom, a whole lot of emphasis is being laid on the human capital. Undoubtedly, HCL too falls in the same bracket, but as it is more a technology driven company rather than soft ware driven, so the role of HR is different. Emphatically states Punekar, “We are not a typical soft ware company as most IT companies are perceived as, hence the HR challenges faced by us are very different from them. To take one example, our employees are spread over 360+ locations.” Yet, there are many innovative techniques that HCL practices to get talent on board and nurtures that talent to bring to the surface the leaders of tomorrow. The company’s mantra is, ‘Catch them young & set their minds on fire’. And clearly the final objective of all HR practices at HCL is to ensure that every employee develops a keen sense of ownership for the company, and thus the company has a culture of ‘freedom’ at the workplace. Explains Punekar, “Freedom in HCL means, letting people make their own mistakes and learn from them. After all it is your own company, you are the owner so you are allowed to make your set of mistakes and it is only through mistakes that the employees can learn.” An open culture also helps to create a learning environment, which is an important factor for any IT company. Adds Punekar, “Although it’s a difficult task to achieve yet once this objective is achieved, then you would never face challenges in the form of retaining talent.”

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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The place does matter!!!

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While every IT major is now turning to India for expansion, Intel was perhaps one of the first companies to reach the Indian shores in 1989. At that time, Intel only had its sales and marketing operations in India. When asked about the tipping point, John McClure, Director Marekting Intel South Asia divulged to B&E, “Th e tipping point for Intel India was to set up the Intel India Development Centre (IIDC) in Bangalore in 1998.” Craig Barrett has already outlined the importance of India in Intel’s global plans. As a part of his plans to make India the hub of R&D for Intel, Barrett announced massive investment of $1 billion into the Indian market across various verticals. “The $1 billion investment demonstrates Intel’s long-term commitment and builds on the foundation we have created during our 10 years of operations in India. We will grow our local operations, boost venture capital investments and work closely with the government, industry & educators” said Barrett. Well, one could easily unearth that the kind of confidence Barrett has for Intel India would have made the executives here more responsible and nervous at the same time. Though we could not sense the frenzy about the very famous Intel vs. AMD fiasco at the IIDC Bangalore, the executives definitely looked completely committed to the cause of Intel globally.

In an exclusive conversation with B&E, Rahul Bedi, Director Corporate affairs, Intel South Asia and India Business Operations Manager Intel India maps out the contribution & importance of Intel India, “I cannot name the exact products being developed here in IIDC, but these are products that are going to be extremely critical for Intel. IIDC will have a significant impact on the bottom-line of the company.”

When quizzed about the contribution of IIDC to Intel’s global strategy, John McClure, further outlines, “IIDC has been steadily contributing to the global development of Intel’s products. Part of the work involved in getting quad core chips ready for the global market was undertaken here. No other company in India undertakes testing of this level of complexity. IIDC is also involved in the complete line up of Intel’s quad core chips.”

Well, for the uninitiated, the contribution of IIDC is not restricted to Intel’s quad core chip sets. The company’s Bangalore centre has slowly emerged as its global hub for R&D. Similarly, IIDC also played a key role in the launch of the Intel’s new mobile platform Intel Centrino Duo and Intel Centrino Pro processor technology for both consumer and business computing. IIDC also planned and executed key design and validation activities on the Intel® 965 chipset (codenamed Crestline), which forms part of the new Intel Centrino Processor technology platform. Finally, IIDC also provided critical hardware and soft ware applications engineering support to Intel OEMs and ODMs in Asia Pacific and Japan to ensure readiness to launch their platforms along with Intel. The different divisions of IIDC have contributed to Intel’s global growth like its Mobility Group contributed to the Centrino Duo platform, Digital Enterprise Groups’ (DEG) contributed to development of quad core processor and the Corporate Technology Groups’ (CTG) contributed to the world’s first programmable processor to deliver teraflops performance. The Bangalore team is also becoming the primary competency centre for IT related supply chain applications.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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The Indian conglomerate ITC Ltd. has gobbled an Australian agri-biotech company – Technico Pty Ltd. However, the amount of the deal has been kept under wraps. The deal is going to strengthen ITC’s food division. The deal was implemented through the investment arm Russell Credit, a fully owned subsidiary of ITC. Technico offers mass potato supply chain management & uses the exclusive Technituber technology which is known to transform the global seed potato industry. Technico has its business spread around Canada, China, the Middle East & India and utilises this reach to source potatoes all through the year for bulk users.

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Are you saying I don’t have to

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Sheolul Smey?! ...

For those who thought that that was the only option...
When it’s a question of money, everybody is of the same religion – goes the adage aptly! The general trend of human beings has always been to secure their future... in whatever way they can! There are varied options for all age groups. So why should senior citizens stay back? Firstly, to get introduced to the concept, reverse mortgage schemes open the option of receiving a fixed monthly income for a stipulated span of time. Oh no, it’s not free of cost. It’s all against your house, but even as you reside in it! Though this innovative concept had received a mention in Budget 2006 and also in Budget 2007, banks and housing finance companies (HFCs) had no option than to wait for the final guidelines from the National Housing Bank, which thankfully arrived last month, raising expectations of a flurry of reverse mortgage products.

It is expected that private service providers like ICICI Bank and HDFC Bank and also public sector players like Bank of Baroda, Oriental Bank of Commerce, Punjab National Bank, GIC & LIC Housing Finance will be among those off erring a plethora of such products. S. K. Mitter of LIC Housing Finance Limited told B&E, “We are working on the proposal and the products will be launched in a couple of months.” However, first in the series to launch reverse mortgage schemes were Dewan Housing Finance Corporation Limited and Punjab National Bank.

Analytically, these schemes are more similar to pension schemes for senior citizens living in an accommodation owned by them. Financially, it works in a manner that’s quite opposite to buying a house on loan, wherein it’s necessary to pay an equated monthly installment to your bank. In reverse mortgage, the agreement terms are such that while the house is mortgaged to the bank, the bank is supposed to pay out equated monthly amounts to the other party.

Though in this case, technically, the house belongs to the bank, still it’s possible to live in the house till the person (who has mortgaged) and his spouse are alive, even after the mortgage tenure is getting over! As per the norms, a house owner, who has crossed 60 years of age, is eligible to seek a loan up to 60% of the value of residential property by mortgaging the same for a maximum period of 15 years with a bank or a housing finance corporation, while retaining the right to stay in the property. In terms of receiving the equated amounts, the receiver can opt for monthly, quarterly, annual or lump sum payments, or even payments at any other point in time as per his/her discretion. Also, a revaluation of the property has to be undertaken by the bank once every five years. On the event of death of the receiver, the bank offers the legal heirs an option to repay the loan. If the loan is not paid back, the bank has the authority to sell the house and pay back the difference, if any, to the heirs.

Quite popular in developed countries, reverse mortgage is an effective social security measure, which will find a lot of application in India; especially at a time when senior citizens, in dire need of money, sometimes end up with no option other than selling their house and belongings lock, stock and barrel. But the government necessarily needs to ensure that the focus of such products remains ‘social security’ rather than profits. Is that possible? Of course yes, and with classic positive repercussions.

B&E edit bureau: Sunanda Roy

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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