DRIVIN G ROWTH - Dr. Reddy's

24
human resources
PEOPLE AND PERFORMANCE
T
HE LAST YEAR HAS BEEN
characterised by change. From
mergers to acquisitions to
restructuring, Dr. Reddy’s has traversed the
path of transformation. Remarkably, it has
been a fairly painless journey, made possible
by the strategic approach adopted to
manage the people side of the
transformation. The strategy has been
founded on the basis of sound HR
philosophy, principles and policies.
In the process of organisational
transformation, the entire HR function has
itself undergone a major restructuring. A
delicate balance has been struck between
centralisation and decentralisation in order
to enhance responsiveness and stakeholder
satisfaction. The organisation is reaping the
benefits in several ways. In an all-India
rating, Dr. Reddy’s has been rated the 13th
best employer overall and the top rated
employer in the pharmaceutical industry.
At the highest level, HR contributes to
corporate governance through the formation
of Management Council, which is a
watchdog for organisational health and the
strategy formulation body. At a functional
level, talent acquisition, development and
deployment are the key focus areas besides
articulating critical processes to enhance
performance orientation.
DR. REDDY’S LABORATORIES LTD. | HUMAN RESOURCES | ANNUAL REPORT 2001-2002
Talent acquisition is an integral part of
our change management. For the first time
at Dr. Reddy’s we have embarked upon
widespread campus recruitment. After a
rigorous screening of 1500 applications, 15
offers have been made. In addition, 15
experienced candidates have been selected
from the Indian Institutes of Management
and Indian School of Business for lateral
entry. As a part of our journey towards
becoming a global pharmaceutical company,
global recruitment has been given new
momentum.
Equally challenging is the task of talent
management. Dr. Reddy’s has always
adopted an integrated approach towards
managing human capital. Key strategic
initiatives like management development,
leadership development, building
performance driven culture have been kick
started during the last one year. Major
milestones are:
■ VARIABLE PAY has been introduced for
all the executives, which is arrived at based on
the performance of the individual, the
business unit and the overall organisation.
■ ATTRITION At the organisation level, the
attrition rate has been limited to 5%
(excluding the field sales force).
■ TALENT ACQUISITION In India, the
senior management team has been