Financial Daily from THE HINDU group of publications
Sunday, Apr 03, 2005
Financial Daily from THE HINDU group of publications Sunday, Apr 03, 2005 |
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Corporate
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Manpower ONGC mulls floating sabbatical scheme to cut excess staff Pratim Ranjan Bose
Kolkata , April 2 HAVING failed to make voluntary retirement schemes lucrative enough, ONGC is considering floating a sabbatical scheme to rationalise excess manpower. Over the past two years, the company had rolled out two voluntary retirement schemes to shed nearly 4,500 people. Both the schemes, however, received lukewarm response from the employees. Company sources said VR schemes, drawn up following guidelines set by the Department of Public Enterprises, had failed to live up to the expectation of the employees. As a result, only 1,340 employees had opted for the schemes. The sabbatical scheme, which is still in a conceptual stage, is a fallout of the "multi-dimensional manning exercise" being carried out by the company for benchmarking manpower requirements in different areas and finding ways to redeploy manpower from overstaffed areas. Having a presence in oil and gas exploration, production and power generation and retail, ONGC holds the distinction of being the country's most diversified oil company, employing around 37,000 people. The expectation is that with an expansion in its many-faceted activity, the company's manning pattern will become even more complex in the years to come. A study carried out by McKinsey & Co will redefine the manning norms of the company for its various business activities by taking a deeper look into the profiles of its existing manpower, including qualification and deployment patterns. While the exercise will provide a clear picture of ONGC's manning position across the business chain vis-a-vis international standards, the company has identified a few areas which are heavily overstaffed.
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