Published on September 17, 2020
Being the only Insurance company to have won the Best Employer Award, four times in a row, Tata AIA has always worked towards putting in place enablers that help achieve the organisation’s vision and goals and most importantly help stay ahead of the curve. Tata AIA has robust career and talent management processes to this effect. However, in the new VUCA world it was imperative for the company to understand key elements required to excel and exceed at work in the ‘new normal’ and emulate people practices of fast-growing Tata companies, many of which had created an integrated framework, comprising career development initiatives, leadership programmes, and succession planning.
Accordingly, Tata Business Excellence Group facilitated two EPIC sessions, where members from Tata Steel and Titan provided information to members of Tata AIA about their best practices.
The first session on July 14, 2020, saw Shruti Roy Choudhury, Head, Leadership Development, Tata Steel, along with Ayushee Das, Senior Manager - HRM, and Ayush Sinha, Manager - Leadership Development, share their practice of leadership development and succession planning with over 20 delegates from Tata AIA. During the session, Tata Steel gave information about various facets, including:
- Approach towards talent pipeline
- Challenges faced
- Focus on new areas
- L&D framework (70-20-10 rule)
- Metrics like succession coverage ratio
Members from Titan helmed the next session on July 17, 2020. Raj Narayan, CHRO, and Dhanya K, Head - Leadership Development, divulged details about their practice of career progression and talent management, popularly called 'growing your own timber', with members of Tata AIA.
The team provided details about the phase of leadership development, which they had embarked on in 2014-15. To redefine the leadership competencies required for the organisation's future, Titan had reflected on the past to examine reasons for success and future ambitions. It identified the leadership competencies to drive the company towards achieving those ambitions. Data about various practices was gathered by interacting with different sets of people across the organisation. It served as the basis for identifying which practices needed to be retained, modified, and further improved. After that, the company developed its leadership competency model, which comprised following four dimensions:
1. Creating value: Thinks big, is business-savvy, has an entrepreneurial drive and shapes customer preferences
2. Engaging stakeholders: Nurtures relationships, an impactful influencer
3. Inspiring people: Leads diverse teams and trusts people to be accountable
4. The core: Believes in people, is innately curious, and passionate about products and categories
Titan has embedded these competencies in its Performance Management System as well as the recruitment process at the managerial and leadership levels.
Ms Dhanya also elaborated on various programmes for the development of emerging and young leaders as well as top and senior management. She also elaborated on the structured leadership development process as well as other initiatives such as Xchange — an informal group of Bengaluru-based companies, including 3M, Bosch, Café Coffee Day, Mindtree and Amazon, organised under the umbrella term of 'The Learning Consortium'.
The Tata AIA team expressed a keen desire to leverage the learning gathered and improve its existing processes. The members promised to reach out to the respective practice-owners at Tata Steel and Titan to understand some of the practices in greater detail.
The EPIC sessions have been a great learning platform for the team at Tata AIA Life. For us it has been a humbling experience to get a preview of some of the best practices from world-class Tata companies like Tata Steel and Titan on how they have successfully created an integrated framework comprising career development initiatives, leadership programmes and succession planning. The sessions were informative, engaging, lucid and very interactive with ample opportunity for the participants to ask questions and clarify doubts.— Marshal Dias, Vice President - Human Resources, Tata AIA Life Insurance
About the EPIC Programme
EPIC (Excellence Practice Implementation Champion) carries forward the Tata Best Practices Programme by helping companies adopt best practices from the group through a structured collaborative process, under the guidance of Subject Matter Experts (SMEs) from the Best Practice organisations. EPIC is a platform that brings together the provider and the receiver companies together to enable successful adaptation and implementation of best practices.