Industry & Economy
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Economy
India is a high productivity centre, says ABB official
Anjali Prayag
Bangalore
,
July 7
"WE see India as a high productivity centre, rather than a low-cost centre," said Mr Gary Steel, Executive Vice-President and Head of Human Resources, ABB Ltd.
Terming low-cost as disparaging to India's image, he said that even if cost of investment and operations increases in India, it's worth investing here because the "country has proved its productivity".
The corporate research centre in Bangalore, involved in industrial IT work in the automation technology domain, caters to the global markets. In fact, this is the first such centre outside the US and Europe.
"And we have a full range of talent available here in India," said Mr Steel.
He also said that ABB India had set a precedent in certain HR practices and was contributing to the company culture worldwide. For instance, ABB India was the first to initiate innovative HR policies, such as powerful internal visibility and communication exercises and a no-hierarchy people structure.
"We are taking lessons from India and sharing it with our other operations worldwide," he said.
Mr Steel, who's a member of ABB's five-member Group Executive Committee, said that this appointment endorsed the fact that HR was closely linked to business in the company.
"Now nobody can say that we're not serious about people," he said.
And that's why the company will soon launch a wealth creation initiative for its employees worldwide.
"This will be through a savings scheme where employees can save money and buy company stock," Mr Steel said. This will be launched the next quarter in some countries and "may take a couple of years to get underway in India," he said.
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