Company: L&T Technology Services Ltd, London, United Kingdom
Nomination Category: Employer of the Year -Other Industries
Employer of the Year Essay
The LTTS HR department touches the lives of over 15000 employees working in 27 Countries across the globe our employee strength in Europe and UK is over 600, directly making an impact to the top line and bottom line of the organization, by creating a positive culture of highly satisfied and engaged employees through the 3 Ps (People, Process, Portals). All the HR initiatives and policies are derived to meet the business objectives in alignment with the organization vision, mission, and values. This alignment develops a sense of ownership and commitment from all the Business Units and senior leadership thereby making these initiatives highly effective and impactful.
Human Resources function in LTTS is an integral part of our organization DNA. The primary challenge for Human Resources it to successfully engage with employees who are spread across 12 countries Europe and UK. The HR strategy is to continuously engage with our employees through innovative HR practices, policies that are aligned to the overall business strategy of LTTS. Our innovative HR practices, initiatives, and policies provide a platform for our great minds and create innovation for our various engineering industries and our customers.
In year 2017, CEO and MD Dr. Keshab Panda announced an organization initiative called the 20:20:20 strategy with the vision to achieve a sustainable 20% revenue growth, healthy EBITDA 20%, and 20 new technology patents every year by 2020. The 20:20:20 road-map also envisions the market capitalization of the company to grow 4x times in that period. This strategy will effectively make L&T Technology Services the largest pure engineering company in the world.
Leading business magazine Forbes has listed us among the World’s Best Employers for 2018. The list, based on Forbes’ Global 2000 rankings of publicly traded companies in 60 countries around the world, placed L&T at No. 22, making it the highest-ranked Indian firm across all sectors.
Growing leadership talent
In a break from the norm in the industry, LTTS actively seeks to identify, grow and promote its talent to fill leadership positions from within, right up to the highest levels of leadership. Although this vision has notionally been in place for over a decade, a change in the HR team has led to a broad collection of initiatives being rolled out over the past two years (below), many being industry firsts. Collectively, these initiatives have finally delivered on this vision.
LTTS fosters a culture of care, trust and continuous learning while meeting the expectations of -stakeholders and society at large. As a responsible Corporate Citizen, the Company contributes towards inclusive growth by empowering communities and accelerating development. last year alone below were some of the CSR fund raising undertaken in Europe .
-10 K run for Tech first
-Bake off to raise fund for Great Ormond street hospital
-Old Laptops donated to NGOs
-Free website designed and set up for NGOs.
-Red cross collection drive across various offices
The two employment engagement initiatives that are very well received and appreciated by the employees are :
1. Estrellas – Annual employee awards night , celebrated across the globe on the same day it focuses on celebrating the achievements and success of the employees and families by felicitating the Winners .
2. Family Day: To Celebrate the passion, commitment and brilliance with yourtheir loved ones and share thier story with the world. Employees are invited to bring in their family members or a friend to join in this celebration and an information day at the office.
In addition to this to align with the Growing leadership Talent the below initiative was rolled out ;
· The CEO Club: Each year we invite people to join this collaboration with PwC. Shortlisted people work with the CEO to drive the company forwards. Huge prize money and university place.
Employer of the Year Summary
· The CEO Club
· Accelerated Leadership Programme: 12-month intervention sharpening competencies required for the job. 89 high potential associates were identified and 75 have had career enhancements.
· The Beyond initiative: Hiring candidates from local universities, bringing them back to their home countries , deploying them globally.
- HR Connect Sessions with employees , wellness days , Tax planning seminars.
- Rewards and Recognition
- Life Portal
- EmPulse Survey
- myTS & HR Genie -Artificial Intelligence-based HR Chatbot HR Genie
- Hear our Leaders Speak – Every business unit has a quarterly connect with employees, increasing operation efficiency, better connect bonding, have clear vision for the next quarter.
- Techpanorama –
a. Total of New Ideas: 525
b. Total of Abstracts : 1003
c. Total of SMEs : 50
d. Total new service offering ideas: 41
e. Shortlisted Invention for patent ability: 17
f Number of prototypes displayed : 75
- Engagement Club