At Dr. Reddy's, we define talent management comprehensively. For us it extends beyond recruitment of the right people to retaining them by offering the right work environment, right remuneration, right benefits and the right training. Above all, our talent is nurtured and encouraged to do the right thing. In this way, we infuse in our people the drive to become better every day.
SIX FOCAL POINTS OF TALENT MANAGEMENT
We attract and retain talented people, develop and hone their skills in a safe, secure and supporting environment and forge with them an enduring relationship.
Our Talent Management Process is helmed by a three-tiered board, where a committee of members at the senior, middle and junior management levels, helps employees perform beyond their potential.
TALENT MANAGEMENT PROCESS
Talent Review
Feedback to Employees
Development Actions
One-on-one
discussion with the
panel members
Strengths, improvement
areas, possible career leaps
Stretch Assignments,
Special Projects, Coaching, Mentoring, Job Rotations, Classroom Training.
Our Corporate Talent Management Board (TMB) process involves a talent review of Senior Management by a panel of Management Council (MC) members. In the review, each individual meets and discusses with the panel members on a one-on-one basis. The panel then convenes to track the performance and progress of the employee. In consolidation, they identify strengths, areas of improvement, and possible career pathways in tune with the employee's potential. After the completion of the talent review process, feedback is shared with the individual and a development plan is created.
The Business TMB process also follows a similar approach. Cross-functional
panels, comprising senior business leaders, conduct the talent review of middle
management personnel.
The Performance Management Process (PerfECT) has been formulated to
identify development interventions for our Young Emerging Leadership.
This year, nominations for promotion to and within Senior Management were taken through the Talent Management Board (TMB) process for the first time on a pilot basis. A detailed TMB process roadmap was drawn up and is scheduled to be executed by FY11.
Furthermore, our talent management focuses on six core competencies as per our Leadership Model. These competencies, as stated below, encapsulate in a snapshot each facet of the talent management process; right from talent acquisition to career progression and leadership development.
CORE COMPETENCIES
Performance
Orientation
Business Acumen &
Decision Making
Communicating
& Influencing
Building & Leveraging Relationships
Commitment to
Learning & Coaching
Innovation
& Problem Solving
In the reporting year, active steps, plans and initiatives were taken to recruit, retain and revitalise talent required for the future health of the organisation.
