PROJECT SUBMISSION FORMYour Exact Name (This will be printed on your certificate):Ashita PrabhuGaonkarName of the program: Certified Talent Manager Date of attendance (will be printed on your certificate): 29/03/2014 to 30/03/2014Date of Submission:30/May/2014IF you a participant from WHRB/AHRB - Your Batch location and year: 2014 MumbaiValid Email ID: ashita273@gmail.com

POSTAL ADDRESS THAT YOU WANT THE CERTIFICATE TO BE DISPATCHED AT:Name: Ashita PrabhuGaonkarStreet Address 1: House 1708, AskanwadaStreet Address 2: ShirodaCity: PondaState/Province : GoaPost/Zip Code: 403103 Country: IndiaWorking Mobile No: 8551037745Working land phone No: 0832 2306337

Introspection of the Talent Management process at Mining Company

IndexSr. No.ContentPage No

Section 1Introduction1

Abstract2

Objective of the Project2

Scope of the Project2

Conclusion3

Section 2Talent: Strategies of Talent Management4-11

Definition of Talent4

Corporate Strategy7

Strategy Development Process7

Table 1: SWOT Analysis of "Mining Company"8

Strategy Deployment9

Mining Company vis--vis Treacy & Wiersema Value Discipline10

Fig1: Mining Company vis--vis Value Discipline11

Section 3Strategic Importance of Competency Mapping12-22

Table 2: Mission, Vision Values and Philosophy of Mining Company12

Fig.2: Organisation Chart of Mining Company14

Table 3: Employee Category based on various parameters in Mining Company 15

9 Box Model of Talent Management16

Table4: Data of Mining Department of Mining Company17

Assessment of Mining Department employees on 9 box greed 19

Table5: Application of 9 Box Model in Mining Company19

Table 6: Proposed recommendations based on 9 boxes Model20

Proposed recommendations based on 9 boxes Model20

Section 1: Introduction & Project summary

IntroductionTalent in general terms refers to the capabilities, skills or the art, a person possess in a particular field. It also refers to those people who have high potential, scarce knowledge and skill or who can successfully bring about transformation and change in the organization. Such individuals are usually sought after in the market and their contributions to the business add direct value to its strategic or competitive positioning.Coming to the word Talent Management in an Organisation, it refers to those special steps an organization adopts to recruit, develop and retain its pool of top talent. Talent Management also denotes a deliberate approach taken up by an organization to attract, develop and retain people with the aptitude and abilities to meet not only the current requirements but also future organizational needs.In todays talent-hungry market scenario, one of the greatest challenges that organizations are facing is to successfully attract, assess, train and retain talented employees. Talent Management encompasses in itself the entire process of Planning, Recruiting, Developing, Managing, and Compensating employees throughout the organization. Organizations have realized the need for talent management and are now focusing to develop and retain the existing talent in their organization rather than trying to acquire a new talent because the cost of identifying, developing and retaining the talent internally is more cost effective instead of replacing the talent which is lost from external market. Though it may appear initially that in the process of retaining talent, more amounts is being spent in terms of increased wages, rewards and recognition, but when practically analyzed, the cost of acquiring a new talent is higher. Apart from higher cost of acquiring the new talent it has to additionally face the initial hiccups of this new employee getting along with the organizational culture, goals and strategies. Every business unit is making sure that they can respond and withstand the challenges of talent crisis by developing an effective talent management strategy like identifying key talented people in the organization, cultivating and developing skills of their present workforce and retaining highly talented employees by protecting them from competitors.Abstracti Objective of the Project1) The very objective of this project is Introspection of the Talent Management process practiced at Mining Company with the desire to link it with Company Business Strategy2) Toalign the talent management areas with Companys strategy, define consistent leadership criteria across all functional areas 3) Identify specific competencies (analytical, technical, education, experience) to cultivate for continuing growth.ii Scope of the ProjectIn recent days, the HRDepartment of any organisation is vested with the responsibility of managing the Talent in addition to its conventional function ofproviding goodhuman capital toanorganization.In the current scenario of cutthroat competition, every company has to survive to satisfy its customers by providing them quality products and services. This work was undertaken with a view to study fundamental as well as the commercial and operational aspects of the company. The study involved following: To understand the entire procedure of Talent management To understand the need of Talent Management To study the accuracy and quality of work of employees by talent management procedure Assess talent Pipeline in Mining Company Succession planning and integrated leadership development Effective Change Management

Faced with unprecedented demographic shifts and booming demand in an increasingly competitive global market, mining industry worldwide is grappling with a significant challenge: How and where can they get the talent they need today to provide the resources for tomorrow?In short the scope of Talent Management is quite wide and adopts an integrative approach to various functions. The purpose is to have a synergistic effect between the various activities so as to ensure a win-win situation for both the organisation and the employee.Iii ConclusionMining Company without having applied fancy names to the existing processes, has been practicing most of the processes of Succession planning, Managing Talent pipeline and integrated leadership development.Learning from this entire project work has given an insight into the whole process of Integrated Talent Management Aligning of acquired talent to Companys goals by right selection of the right person for the right job at right time.To attract and retain talent a Competitive compensation plan has to be designed and implementedTraining is imperative for continual development of competenciesImportance of Advanced Performance appraisal model and practicing the sameTrain the acquired talent to align with Company culture, philosophy, mission and vision.

Introspection of Talent Management at Mining Company Page - 3 -

Section 2: Talent: Strategies of Talent Management

2.1DefiningTalentTalent management is the integrated process of ensuring that an organization has a continuous supply of highly productive individuals in the right job, at the right time. Rather than a one-time event, talent management is a continuous process that plans talent needs, builds an image to attract the very best, ensures that new hires are immediately productive, helps to retain the very best, and facilitates the continuous movement of talent to where it can have the most impact within the organization. The goal of the talent management process is to increase overall workforce productivity through the improved attraction, retention, and utilization of talent. The talent management strategy is superior not just because it focuses on productivity, but also because it is forward looking and proactive, which means that the organization is continuously seeking out talent and opportunities to better utilize that talent. It produces excellent results because it overcomes the major problem of traditional recruiting, which is isolation. It instead integrates the previously independent functions of recruiting, retention, workforce planning, employment branding, metrics, orientation and redeployment into a seamless process.Since Mining Company is a well- known and oldest player in Iron ore mining in Goa, with operational presence PAN India, defining Critical Roles is imperative. Top talent is todays competitive differentiator that makes the difference between an organization that is thriving and one that is stagnant or declining. However, the impact of the roles performed by that talent is not identical across an organization. Some roles have a greater impact than others. Hence the Talent in Mining Company has been described based on Strategic importance, Support and Surplus categories.

A positions (Strategic)Mines Manager, Geology Manager, Quality Control, Business DevelopmentMining: A qualified, Mines Manager having first class Mines Manager Certificate of Competency, is most critical as far as any mining Unit is concerned, both statutorily as well as from Mining Operations is concerned.Geology: A qualified, post graduate Geology Manager is the one who determines Mining plan for the year through explorations and ascertains quality of ore required to be produced.Quality Control: Experienced quality control Manager is required to ensure that the excavated ore from the mining bench is as per the set standards and is a very critical position as far as mining unit is concerned.Business Development: 27 operational Mining Units in the State of Goa apart from PAN India Operations and operating Mines in African and South American Continents, necessitates exploring new business markets to sell the ore produced in these mining units for Mining Company. Business development manager not only searches for untapped markets, but also successfully negotiates for prices; enhance business ties with existing set of buyers and also new business opportunities.B positions (Support)Engineering Services: Mechanical Engineer as per statutory requirement is critical support staff. Engineers from other faculties also are required for smooth mining operations.IT: Since the Company has embraced latest innovations in information technology, IT staff is necessary for supporting automation of weigh bridge operations, SAP system, recently introduced system of e-filing or returns, e-auction of ore and all laptops and computers used in the Mining CompanyOperations: Operations department plays important role in strategizing operational efficiency to be one up the competitor.Logistics: Ore has to be transported from Mines head to the point of transport depending upon road capacity; logistics department determines the mode of transport. In Goa, Brazil, Chile and Peru, preferred mode of transport is water ways. In Karnataka and Orissa it is through railway wagons. Service agreements with truck owners, barge owners, vessels to export ore to the buyers country are all taken care by the logistics department.Sales: Selling of extracted ore is done by the Sales and Exports department with abiding by all pre conditions of the government. The entire documentation of shipping, domestic sales etc is taken care by the sales department and is a great support function as far as Mining Company is concerned.Finance: Strong financial support is necessary with investments in latest machinery. Mining Company is pioneer in adapting latest innovations related to mining viz. Mining Company was first Company in India to import Volvo Machinery like articulated Dump trucks with All-Volvo drive train, Self-compensating, hydro-mechanical steering, for safety and longer life, 6x4 and 6x6 modes, swing-down grill platform, Care Track telematics, wheel loaders, backhoe loaders, excavators, motor graders, and compactors etc. The metal industry is very capital intensive. Constructing mines and building production facilities requires huge sums ofcapital. Long-term survival requires heavy expenditures to finance production and exploration. Technology has not only played a big role in the computer and internet industry, but it has also greatly changed the mining industry.

HR: Human Resources plays a critical support role in timely hiring new talent, performance management, reward and recognition, employee engagement, employee learning and development etc.

C Positions (Surplus)Retainers who have contributed when the company was in its growing stages and have stayed with the Company contributing greatly at the helm of their career have been retained to support them financially in advisory roles. Yet they do not have any direct role in day today working of the organisation.2.2 Corporate Strategy 2.2a: Strategy Development ProcessA review of Mining Company Philosophy and Mission, and the prior years plan provides a backdrop on strategic direction. Each business and function champion uses common planning templates and workbooks designed to ensure that blind spots are addressed, SWOTs as shown in Fig.1 are analyzed, core competencies are defined and early indications of major shifts are considered. Technical, business, and functional representatives from across the organization participate on these teams, facilitating cross-functional alignment throughout the organization. Mining Companys strategic planning process has different time horizons and classified based on duration in years.Annual planning translates long term plans of other time horizons into action plans which mainly include resource allocation, prioritization and identification of problem areas.Five year horizon includes new mining lease development, environmental planning, mines safety provisions etc. Ten year horizon includes long term market exploration, revenue forecasting evaluation and revision of vision and strategy.Mining Company in long term aims to expand its presence to various continents where Iron ore mining leases are available and complete at the global level. There are identified initiatives to capitalize on significant business opportunities.Through the Strategic planning processes, Mining Company identifies its core competencies, strategic challenges and advantages. Strategic challenges and advantages are identified through SWOT analysis, as well as a strategy summary detailing competitive advantages by each business, region, and corporate function. The Advisory Board validates that the proposed plan and functional requirements will sustain near and longer-term success. Where adjustments are required, the planning group adjusts requirements and modifies the required resource budget appropriately. CDI evaluates the effectiveness, efficiency, and cycle time of the planning process using survey and other input from process stakeholders, making improvements for the next planning cycle which are discussed during the kickoff and training. The Advisory Board evaluates the effectiveness of the entire process.SWOT Analysis of Mining Company

AStrengthStrong Brand Value

High Quality and reliability product

Demand forecast is accurate , sales increasing at 40%

Product range is varied depending customer requirement.

Sampling at prime locations

Managerial Skills are at a very competent level

Operating profit increasing

BWeaknessVery few captive mines

Competition is with global and big players

Ban on iron ore exports and other government regulations

Demands of the community

COpportunitiesBigger export market

Paletisation, pig iron and sponge iron making

DThreatThreat from small unorganised players

Stringent Regulatory norms

Price war with local and Australian and Brazilian ore suppliers

Table 1: SWOT Analysis of Mining Company

2.2b: Strategy DeploymentShort term and long term action plans are critical to achieving set goals. There are guidelines that indicate key planned changes in products, customers and operations.The Goals are set on SMART principle. Action planning process begins with rationalizing budgets and assigning responsibilities to teams. Strategic plan is deployed to various levels of employees by different ways. Based on the strategic plan developed by senior management define their team and individual goals. These goals are refined during employee meetings of Performance Management.Senior leaders review progress and make mid-term corrections. Using process indicators, benchmark and comparative studies employees track their own performance. Various vendors and channel representatives are involved in meetings when deployment of plans in distribution channel is required. Review meetings are held from time to time to discuss effect of changes in action plan. If the changes appear to help improve the set goals, modified action plan is immediately deployed. Project Managers and senior leaders develop action plans to identify financial and Human Resource requirements. Assessment of competency needs and workforce capability plans are part of Strategic Planning Process. Employees set their objectives in alignment with Mining Company objectives. Mining Companys career growth ladder and succession planning is designed in such a manner where individual employee can see clear growth process.Within large umbrella of overall Business strategy, department level strategies are included viz: Marketing StrategyOrganisational development StrategyInformation Technology StrategyFinancial strategyEach of these departments has their strategies planned for given financial year depending upon overall business strategy which is reviewed periodically in Business Review Meetings. Mining Company vis--vis Treacy & Wiersema Value DisciplineAll these years Mining Company has strived to be market leader and since its inception in 1957, has maintained its position in top 2 exporters of Iron ore from India. When analysed on Treacy and Wiersemas value disciplines of market leadership, a very interesting observations were noted which can be broadly categrised into following:

1957-1977: Period when Mining Company established its foot hold through the difficult period with financial shortages. This was the period when the Mining Company concentrated on Customer Intimacy. International buyers like Sumitomo are associated with the Company since its inception as ore was customized to their requirement as per their specification.

1978 1998:Product leadership: Only those leases where operated where the ore quality was above 60%Fe. Any ore obtained while excavating high grade ore was stacked as dump outside the lease or within the lease area.Mining Company went to the extent of establishing fully automated Beneficiation plant which was largest in South East Asia when it was commissioned. 100% export oriented unit named Mining Company Ferromet was established.

1999 Till date Over the years Mining Company has realized that to survive and succeed in this competitive world with many players in the industry to complete with, operational excellence is the only way to excel and maintain the top position and be the market leader.Operational Excellence: Superb operations and execution by providing good quality of Iron Ore at marginal profit keeping cost under check. The focus is on efficiency, streamlining operations, supply chain management with large volumes. Logistics department of Mining Company is so well equipped that when mining was banned through Supreme Court order in 2010, Company started providing logistics solution to other industries in Goa and outside India.

Fig.1: Mining Company vis--vis Value Discipline

Introspection of Talent Management at Mining CompanyPage - 11 -

Section 3: Competency Differential Mapping

3.1Strategic Importance of Competency Mapping As stated above, Mining Companys strategy is to grow in all the continents without compromising on its core values as given in the representation below.

MissionMaxmise corporate value with sustained growth of assets and deliver optimal stakeholder value

VisionBuild Financial and physical assets on Human Resources, Technology, Management skills, Managing change, Building long term customer relationship while operating to ensure sustainable social and environmental growth.

Value1.Have the will to change

2. Value internal and external stakeholders

3. Safety of assets and Human Resources

4. No compromise on ethics

Philosophy1. Continuous supply through secure access to resources

2. Demonstrate the socio- economic benefits of resources utilisation to most Governments and communities

3. Ensure that the resources are consumed safely and in sustainable manner

4. Always play for greater team

5. Remember our roots

6. being self-accountable

Table 2: Mission, Vision Values and Philosophy of Mining Company

Our Business Operations and Corporate Development teams work on global, cross-functional projects that are at the heart of what we do at Mining Company. These teams deliver insights to our leaders that drive decision-making, execution and investments for some of Mining Companys most critical initiatives. This requires an analytical savvy, a problem-solving sophistication and a drive to make the highest possible impact. Any organisation can thrive in a fast-paced environment that calls for being resourceful. One can look at a situation, deconstruct and have the foresight to anticipate what could be.

The Business Operations and Strategy team BizOps at Mining Company plays a critical role in defining and driving strategic, operational and organizational improvements across the company. Founded in 2008, BizOps is a high-profile, high-impact team working with Ming Company's businesses across the globe. BizOps works on a range of critical projects and issues--from growth strategies for exciting products like iron ore, Bauxite, to logistics support, and global sales force alignment; to partner development and strategy work. BizOps team is at the forefront in helping Mining Company to clarify fast-moving strategic priorities, tackle operational challenges and enable innovation.The Corporate Development team guarantees Mining Company's worldwide growth by identifying the appropriate acquisitions and investments--and then working to make them happen. Consisting of experienced merger-and-acquisition leaders and integration experts, were dedicated to identifying the business opportunities of tomorrow. We find and evaluate acquisition opportunities across existing and future markets, drive management team decisions, lead deal negotiations and help manage post-acquisition integration and performance evaluation.While in any company work has to be coordinated across hundreds of jobs, there typically are only 20 to 40 jobs are actually key to fulfilling the strategic mission and stakeholder obligations. These jobs, called critical positions, are ones that significantly affect key performance measures such as revenue, costs, quality or customer-engagement metrics, or are critically important to the business strategy. Because of how tightly coupled these positions are to the business strategy, an absence of qualified workers for a critical position can have devastating results.

Introspection of Talent Management at Mining CompanyPage - 21 -

Fig.2: Organisation Chart of Mining CompanyNote: Mine wise, the staff list varies and various departments have many employees working on the same designation, representing various mines.

CategoryLeadership ImportanceStrategic ImportanceBehaviour ImportanceShortage Importace

Category ADirector Operations, CFO, Director Mining, Director Geology & Environment, Director Business Development, GM Marketing & sales, GM Business Development, DGM Mining, , Mines Manager, GM Logistics, Director Business Development, GM Business Development, Director Mining, Director operations, GM Quality Control, DGM Exports, DGM Marketing & Sales, GM HR, DGM Mining, Sr. Mines Manager, Mines ManagerGM Marketing & Sales, GM Exports, GM HR, Manager HR, GM IT, DGM Finance, CFO, Director Operations, Director Marketing & Sales, Mining Foreman, DGM Mining, Sr. Mines Manager, DGM Finance, Sr. Manager Finance, Mines Manager, Mines Foreman, Business Development Manager, DGM Geology Manager Geology, Sr. Manager Logistics, Sr. Manager Quality Control,

Category BSr. Mines Manager, Mining Foreman, Assistant Mines Manager, GM Mining, GM Geology, DGM Geology, Sr. Manager Geology, IT Department staff, VP Engineering Services, All engineering department staff, Finance Department staffVP Engineering Services and Department of Engineering staff, HR department staff, IT department staff, DGM Procurements, DGM , assistant Mines Manager, Mining Foreman, VP Engineering Services and department of Engineering, IT department staff, Exports and Marketing & Sales department staff, Sr. Mines Manager, Mining Foreman, Lab Technician, Sales Manager, Exports Manger, Logistics Manager,

Category CExecutives in all departments, Lab Technicians, Procurements department staffexecutives in all departments, Sr. Managers in All departments, executives in all departments, Sr. Managers in All departments, executives in all departments, Sr. Managers in All departments,

Table 3: Employee Category based on various parameters in Mining Company 9 Box Model of Talent ManagementThe nine-box matrix offers a systematic approach for the decentralized organisation like Mining Company to determine where best to invest its cash. Rather than rely on each business unit's projections of its future prospects, the Mining Company can judge a unit by two factors that will determine whether it's going to do well in the future: the attractiveness of the mining industry and the units competitive strength within that mining.Placement of business units within the matrix provides an analytic map for managing them. With units above the diagonal, a company may pursue strategies of investment and growth; those along the diagonal may be candidates for selective investment; those below the diagonal might be best sold, liquidated, or run purely for cash. Sorting units into these three categories is an essential starting point for the analysis, but judgment is required to weigh the trade-offs involved. For example, a strong unit in a weak industry is in a very different situation than a weak unit in a highly attractive industry.For analysis and check utility of this model in Mining Industry, have taken employee data of Mining Department in Minign Company and have tried to categorized employees based on their immediate Reporting Authority and their performance across the years they have worked in the Company.

Serial NoNameNumber of Years of Experience in the CompanyLast 2 years Performance Score(Max =5)Technical level ( 3) Company Product and Competitor Awareness ( 2)Team Building ( 4)Managerial and Leadership ( 3)

1Jay4NYYY

2Neeilkanth44NYYY

3Nathan45NYYY

4John43NYYY

5Joshua44NYYN

6Bhanudas43YYNY

7Nehil35YYYY

8Raghavendra42YYYY

9Jayendra85YYYY

10Rajshekhar34YYYY

11Fahad63YYYY

12Shrinivas54YYYY

13Nehil33YYYY

14Satyajeet34YYYY

15Anish35YYYY

16Avinash33YYYY

17Rajesh33YYYN

18Abhilash34YYYN

19James93YYNN

20Akshay83YNNN

21Nadeem84YNNN

22Freddie73YNNN

23Devidas74YNNN

24Pandurang64YYNN

25Madhusudan35NYNN

26Nivrutti35NYNN

27Upesh24YYNN

28Mulchand22NYNN

29Mahendra25NYNN

30Sathyanarayana23YYNN

31Billy92NYNN

32Roger15NYNN

33Vishnu14NYNN

34Vinayak12NYNN

35Umakant15NYNN

36Pradeep12NYNN

37Ulhas15NYNN

38Kapil14NYNN

39Shripad12NYNN

40Purushottam14NYNN

41Madhav04NYNN

42Mahadev04NNNN

43Shashikant32NNNN

44Gaurish32NNNN

45Gitesh32NNNN

46Harish33NNNN

47Harshal41NNNN

48Hardik44NNNN

Table4: Data of Mining Department of Mining Company

Assessment of Mining Department employees on 9 box greed COMPETENCYHIGH (5)ENIGMA

0GROWTH EMPLOYEE

7FUTURE LEADER

5

MEDIUM (3-4)DILEMMA

0CORE EMPLOYEE

10HIGH IMPACT PERFOEMER

1

LOW (2-1)UNDER PERFORMER

10EFFECTIVE 11TRUSTED PROFESSIONAL

6

LOW (2-1)MEDIUM (3-4)HIGH (5)

PERFORMANCE

Table5: Application of 9 Box Model in Mining Company

CategoryCategory nameProposed course of action

Future LeaderTo be promoted

High Impact PerformerCan be considered for promotion after coaching and mentoring

Trusted ProfessionalSkill development needed, encouraged to take responsibilities, can be considered for later moves after improvement is shown

Core EmployeeMotivate, Engage and Reward

EffectiveRole realignment, or Phased out Outplacement

Under PerformerOutplacement

DilemmaUnderperformers but lot of potential, definitely in wrong role

EnigmaUnderperformer, have mediocre performance , likely in wrong role

Table 6: Proposed recommendations based on 9 boxes ModelProposed recommendations based on 9 boxes ModelFuture Leaders: total 5 employees Have the highest potential and are best set for senior succession and hence have to be nurtured at Talent Pipeline They deserve Rearwards and recognition, promotion and talent development through best in class training and Development.High Impact Performer: Only 1 person as of now falls in this category. This person is a strong contributor. Has to be given more challenges, needs more skill development training to develop to a category higher.Trusted Professional: Total 6 employees fall under this category should be encouraged to take more responsibilities. Need mentoring and hand holding to develop skills.

Effective: Total 11 employees fall under this category. They needs to be engaged in other roles, hence role realignment, a phased out outplacement can be offered to them as they seem alright with the assigned duties but do not have leadership qualities and motivation to take on higher responsibilities

Core Employee: Total 10 employees fall under this category. They meet all the given targets, show some potential for growth and may grow if provided for growth opportunities. And hence need to be provided with training.

Underperformer: There are 10 employees in this category. This is the problem spot for the department, though they have qualification, they have low potential. Should be offered outplacement if no improvement in stipulated time period.

Dilemma: Though employee falls in this category as of now, with different needs after growth, can be problem employees. They are likely to be in wrong role and hence need to be realigned after crucial conversation. Or manage out of business.

Enigma: As of now no employee under this category. These people have lot of potential, but are definitely assigned wrong role. Definitely calls for role realignment.

Section 4: HR systems at Mining Company

HR Systems at Mining CompanyMining Company is the name to recon with in the Mining Industry in Goa and is one of the top exporters of iron ore from the country. Since its inception in 1957, Mining Company has always attracted talent by creating an open family like culture.Key characteristics of Mining Company CultureKey characteristics of Mining Company Culture reflect Mining Companys philosophy, and drive improvement in structure, processes, and focus to support rapid growth without losing sight of any individual stakeholder group.Characteristic Areas of Focus

Performance ExcellenceCommitment to delivering best grade ore to customers, best work environment to employees including revenue and profit growth, continuous improvement, high-quality innovative production equipment

Customer FocusCustomer Satisfaction, Voice of the customer

Employee FocusLeadership focus on creating the environment for employee success, strong reward and recognition programme, best work environment, growth oriented work culture

Teamwork / process orientedEverything done by a team and through a process

Engaged / Aligned workforceEngaged employees; aligned with Philosophy, Corporate goals, and objectives making a positive difference in millions of lives

Table.7: Key characteristics of Mining Company CultureMining Company values stakeholders: customers, employees, and its shareholder. The importance Mining Company places on these stakeholders is reflected in the Mining Companys Philosophys Guiding Principles (values) and Why We Exist (purpose).Mining Companys Mission was developed to provide sustainable growth to the organisation thereby optimizing stakeholder value.Mining Company strongly believes in Meritocracy, human dignity growth realization of potential performance based rewards.Mining Company culture believes in the immense potential of its highly motivated and achievement oriented employees, providing them with freedom at work, unmatched leadership opportunities and chance to excel at a rapid pace. This is coupled with competitive pay structure and on-going training. Integrity, trust, fairness and honesty are the basic principles that guide strategies and behavior at Mining CompanyIn addition, each line of business (LOB) systematically identifies its own core competencies including the production and beneficiation, technical, and marketing, to create strategic advantage in its specific market.Mining Company has been the pioneer in adapting and embracing new technology and it is also extended to human resources part as well.Mining Company has created a magnetic culture that pulls in highly skilled and talented peopleNothing attracts top talent to an organization like top talent. That is an immutable organizational fact. There is a magnetism that attracts extraordinary talent and it starts with leaders. Right from the Founder Chairman to todays Managing Director this date, the top management in Mining Company have always seen pulling talent as the key responsibility in building best team int h marketplace and have built the company brand and our people brand to extremely positive level and hence Mining Company has been attractive to top talent, to the extent of having pick of the crop. Top talent is attracted to strong corporate brands but in the end it's the people they work with who are the ultimate magnets. With the understanding that top talent wants to be challenged and recognized for their achievements, Mining Company has always thrown open the top talent to challenges which range from legal, social to mine collapsing and many others where-in they had to prove their temperament, their knowledge, understanding, liaison skills with various external agencies, legal and statutory bodies, their team work etc. Mining Company is the one who has always handsomely rewarded recognizable achievements of top talent by also understanding that some desire public accolades others prefer private rewards. Mining Company has always ensured that emerging leaders are offered challenges and exceptional learning opportunities for their professional and personal growth.Training programmes are designed for creating fulfilling experience for the top talent and are evaluated for relevance by engaging in a regular dialogue to evaluate their level of engagement. Financial and non-financial remuneration is provided thus taking a proactive and balanced view of talent retention.Based on Mining Companys long term strategy and business growth plans, leadership development opportunities are aligned to nurture future leaders in the Company who can relate to the Company culture and can contribute to growth of the Company along with personal growth in terms of knowledge, finances, rank in the hierarchy etc.Twinkling stars a referral program implemented in Mining CompanySince we are a mining Company attrition is high the moment competency certificates are earned after exams. To mitigate exodus of talented and certified mining engineers and other department staff Twinkling Star programme was introduced in the year 2009 with the belief that The brightest and the best people know others who are just like them.To expedite the process, it was formally communicated to the top talent that the Company is looking for similar kind of people and their efforts to bring in talented folks will be recognized by senior management and will be rewarded too. This programme involved referrals by existing top performers. Through this programme, the talent attracted to the Company was groomed to gel with companys highly performance driven culture. Referring employees were given a chance to share their experiences in the company and the reasons for them to refer their peers from outside in the Business Review Meetings have hi-tea with the senior management and were rewarded for bringing in the equivalent talent by way of money and appreciation letter handwritten by the Managing Director.Its a happy realization for the Company that No amount of advertising can compete with Twinkling star word-of-mouth. AArohan Career growth plan at Mining CompanyOver the years it was realized that unless employees do not see a clear growth path in their career they dont want to stick with the company for long.AArohan a programme was introduced along with twinkling stars where in clear cut career growth plan was presented to identified top talent. This also resulted in them knowing plethora of career growth programmes and policies available for them to grow in the Company if they stick around. Various communication channels like company intranet were used, employee handbook also lists out various robust growth opportunities in the company, a formal e-mail also was sent. This resulted in retention of top talent who knew clearly what their performance will fetch for them.

Process flow of AArohan Top talent were handed over a clear job description after doing performance metrics Employee engagement team was deployed to get a sense of personal abilities, aspirations and needs, using questionnaire having questions listed like1. Where do they want to go in their career? 2. What can the organization do to improve the work/life balance? 3. What training or work experience will they need? Defined growth and development plan within the organization.Annual assessment of top performers for future potentialAnnual assessment of top performers is utmost necessary since to tap whether they have high potential along with current high performance for future.This is done through: 1. Clear, measurable, agreed-upon objectivesThis being the foundation to sound Management, Top performer in discussion witht heir immediate reporting Manager and Department head set their objectives for the next assessment year with leeway for mid-term correction.2. Thorough documentationInnumerable business events occur over the course of a year, and as a manager its essential to have a reliable record of the important stuff. Both the good stuff and the bad is recorded. It naturally has to be a fair and balanced account, recording successes and failures. This serves to avoid differing interpretations of reality and wicked unpleasantness at evaluation time.

3. Frequent meetings with meaningful feedbackIn addition to documentation, frequent feedback meetings are necessary in addition to formal mid-term correction for the top performer to know where they are heading, whether to change path, whether to adapt new methods so and so forth.4. Mid-term EvaluationThis is necessary to understand the progress, concern, worries of the top performer as well as the assessor. A formal feedback is given with facts and figures. This makes a meaningful assessment and its makes assessment process a whole lot easier at the year end. Strategies to engage and retain talentMining Industry as a whole has a little difficulty appreciating the importance of high-caliber human resources. The challenges lay in identifying the best people, attracting them and retaining their services.Employee engagement is one of those often talked about but rarely understood concepts. Every employer knows that a happy and fulfilled employee is a more productive one, but to attract and retain the best talent for a business involves engaging employees in the long term.Engagement is about respect going up, down and across a business, transparency throughout and alignment of HR and management policies to business culture and objectives. When all this is done well, employees will be doing the right job for all the right reasons, and the business benefits will be tangibleEmployee engagement does not mean employee happiness, employee satisfaction but emotional commitment where employees feel towards the Organisation and its goals. This emotional commitment simply means employees actually care about their work and their company. They dont just work for paycheque, or just for next promotion, but work on behalf of the organisation goals.

With understanding that an engaged employee leads to higher service, quality, and productivity, which leads to higher customer satisfaction, which leads to increased sales(repeat business and referrals), which leads to higher levels of profit, which leads to higher shareholder returns(i.e., stock price)As former Campbells Soup CEO, Doug Conant, once said, To win in the marketplace you must first win in the workplace.Employee engagement strategies enable people to be the best they can at work, recognizing that this can only happen if they feel respected, involved, heard, well led and valued by those they work for and with.Engagement is about creating opportunities for employees to connect with their colleagues, managers and wider organisation. It is also about creating an environment where employees are motivated to want to connect with their work and really care about doing a good jobIt is a concept that places flexibility, change and continuous improvement at the heart of what it means to be an employee and an employer in a twenty-first century workplace. (Professor Katie Truss)Employee engagement: The way aheadThere is no silver bullet that will deliver high levels of employee engagement overnight and certainly there is no one size fits all solution. Leadership which ensures a strong, transparent and explicit organisational culture which gives employees a line of sight between their job and the vision and aims of the organisation. Engaging managers who offer clarity, appreciation of employees effort and contribution, who treat their people as individuals and who ensure that work is organised efficiently and effectively so that employees feel they are valued, and equipped and supported to do their job. Employees feeling they are able to voice their ideas and be listened to, both about how they do their job and in decision-making in their own department, with joint sharing of problems and challenges and a commitment to arrive at joint solutions. A belief among employees that the organisation lives its values, and that espoused behavioural norms are adhered to, resulting in trust and a sense of integrity. Engagement does not necessarily involve outlay on consultants or expensive surveys. However it will involve behavioural and cultural change which takes time and effort.Engagement also brings a clear win for the individual employee. Because it is achieved by making changes that positively impact on how employees think and feel about what they experience at work, it is likely to impact positively on their well-being too.Over the years it has been observed at Mining Company that pay and work conditions and work facilities are important in attracting top talent but it subsequently acts as hygiene factor. In other words, if handled badly or perceived as unfair, they will act as demotivator.Engagement through RecruitmentMining Company has over the years established itself as a brand and is consistently attractive to the job-hunters and is successful in enticing candidates.Till 2008, Mining Company was reluctant to give any emphasis to online recruitment, updating job openings on its website, tie up with online job portals. But with welcoming formation of formal HR Department migrating from more stiff and indifferent Personnel department, Company became aware of the power of internet and hence the website is regularly updated with latest happenings in company, corporate social responsibility initiatives, latest industry updates and of course job-openings. We started talking more openly about our company friendly culture flat hierarchy, and facilities extended to employees and their family. We started talking more openly about our future growth plans with time horizons, and the kind of talent we are looking for, enticing candidates to look at your careers website and apply for roles. Result, qualified and experienced candidates got attracted to Mining Company. Recruitment team was prompt and professional in contacting candidates which serves as the main differentiator between other players in the Industry.Engaging and Appraising at each stageOnce identified and successfully on-boarded, engagement process begins in earnest. Individual personal files are built- up which helps the business to understand where the talent lies. This also helps to understand strength and weaknesses of an employee. This in-turn helps training department to take training initiatives, HR department for succession planning, talent pipelines etc. Communication channels are well established in Mining Company which is evident by periodic appraisals with individual and teams performance statistics. Regular appraisal meets give employee an opportunity to voice their opinions and their concerns over work conditions, or any other thing that is bothering them. This has created a very healthy work environment within the company.Mining Company promoters have always maintained open channels of communication and hence all the employees are aware that they can approach the Senior Management in case they feel threatened that their seniors are ill treating them or nepotism is being practiced to suppress their expression of concern. This is the major differentiator between Mining Company and the competitors. Very notable incidents are 1) A top performing Mines Manager who was covered for Medical / health insurance. He was diagnosed with cancer and he exhausted his medical insurance and his treatment is not even half way through. In his family, he being the sole earner, company has agreed to shoulder all his further medical expenses and his salary will be paid despite him being absent from the work on humanitarian grounds.2) Mining Foremans daughter accidently burnt while bursting fire crackers. Irrespective of the travel entitlement she and her parents were flown to the best eye hospital in Madurai so save her eye and needless to say the expenses were borne by the Company.3) Major mishap took place when tailing Dam T3 at the biggest mine owned by Mining Company collapsed during heavy rains causing death of 3 employees. One of the employees who dies had joined just a fortnight back. Company has made provisions to pay salary to his bereaved family and expenses towards education will be borne by the company. These and many such instances where employee knew they are valued and are wanted in the company, and feel that they are helped to work towards their personal career goals, the more loyal they are to the company.Engagement through networking Mining Company has created a group on popular social networking site Facebook, wherein all employees post news related to company, their concerns, theirs visits to other mining units, legal compliance news so and so forth. Every Friday, every mining unit has weekly meeting, which is chaired by any employee where concerns, knowledge and interesting observations, learning from training programme attended etc are shared. Management takes cues from these meetings and tries to resolve concerns expressed by the employees in Friday meetings. Having buy-in from senior executives can also make employees feel that they are valued and that their voices are heard right at the top of the company.

Engagement through Rewards and RecognitionMining Company has always encouraged out of the box thinking which thereby contributes to the organisation growth and recognized these extra miles walked by the top performers. Mining Company has robust rewards and recognition program. Mining Company strongly believes in Meritocracy, human dignity growth realization of potential performance based rewards.Mining Company culture believes in the immense potential of its highly motivated and achievement oriented employees, providing them with freedom at work, unmatched leadership opportunities and chance to excel at a rapid pace. This is coupled with competitive pay structure and on-going training. Integrity, trust, fairness and honesty are the basic principles that guide strategies and behavior at Mining CompanyIn addition, each line of business (LOB) systematically identifies its own core competencies including the production and beneficiation, technical, and marketing, to create strategic advantage in its specific market.Bans of iron ore mining and exports in top producing states of Karnataka and Goa have choked the industry really very hard resulting in many smalls firms exiting the industry itself. Even if efforts to fully lift the bans make it past the many bureaucratic and legal hurdles, iron ore miners in Goa do not expect complete resumption of production until late 2014.The bans put in place as the government tried to clamp down illegal mining, have cut the iron ore exports by around 85 per cent, or 100 million tons, over the past two years. They have also reduced foreign exchange earnings by more than $17 billion in the same period, according to the Federation of Indian Mineral Industries (FIMI)Despite ban and absolutely no income for the last two years mining Company has continued to value top performers and have given average 20% rise in salaries. Also performance pay was paid at 20% of gross pay, also was paid when there is no criteria set for performance appraisal due to ban on entire mining.Despite slump in work at any mines in Goa, top talent still has stayed with the Company, for the very reason that they have been clearly explained as to what is the difference between rewards given to them in recognition of their contribution to companys growth vis--vis an average performer. They have been assigned mentoring jobs to hone their leadership skills thus developing leadership pipeline. Engagement through Training and Development An engaged workforce who possess the necessary skills, knowledge and expertise is crucial for any organization who wants to achieve high levels of business success.In current challenging and competitive business environment, learning and development has never been more important as a means to keep employees engaged and maintain that competitive advantage.Through-out period of mining ban it was tempting to slash or even remove training budgets.But Mining Company did not take this myopic stand and concentrated on increasing training budgets to encourage talented employees to further learn new avenues in their trade may it be geology, mining, engineering etc. Every employee was trained on ERP system so that once mining activity resumes, Now that the Honourable Supreme Court has lifted ban on mining and mining activity it will resume soon in Goa, Mining Company has all the necessary top talent to face any of the challenges in Mining, and perform with the same zeal which was before the ban on mining activities.By continuing with the Learning & Development initiative, all the employees and the recognized top performers were kept engaged. In this process, positive effects of training were emphasized upon, where in employees have realized the link between where they are now and where they want to get to and how training is going to bridge this gap.Work-life balanceThis is a concept that supports the efforts of employees to split their time and energy between work and the other important aspects of their lives. Work-life balance is a daily effort to make time for family, friends, community participation, spirituality, personal growth, self-care, and other personal activities, in addition to the demands of the workplace.Work-life balance is assisted by employers who institute policies, procedures, actions, and expectations that enable employees to easily pursue more balanced lives.Mining company has started initiatives like sponsoring family events, flexible working hours is relatively new concept in mining industry, but Mining Company has already created a policy towards introducing the same to reduce stress. Paternity leave never existed in the company. But with young workforce joining the company, 15 days of paternity leave has been introduced.Extended maternity leave, fully paid 3 months of maternity leave has been extended to 6 months. Also if the mother wants to extend the same, an unpaid leave is offered for additional 6 months.

Strategies for succession planningA good succession plan enables a smooth transition with less likelihood of disruption to operations. By planning your exit well in advance you can maximize the value of your business and enable it to meet future needs.Succession planningis a process for identifying and developing internal peoplewith the potential to fill key business leadership positions in the Company. Succession planning increases the availability of experienced and capable employees that are prepared to assume these roles as they become available. Taken narrowly, "replacement planning" for key roles is the heart of succession planning. Effective succession or talent-pool Management concerns itself with building a series of feeder groups up and down the entire leadership pipeline or progression (Charan, Drotter, Noel, 2001). In contrast, replacement planning is focused narrowly on identifying specific back-up candidates for given senior management positions.Scenario at Mining CompanyWe at Mining Company have been into existence over last 60 years. May be we do not go by the name succession planning or talent pool management but we strictly follow a few guidelines to cater to the ever demanding leadership positions that arise out of resignations, retirement etc. Talent Management guidelines1. Identification of the critical positions. Employees are categorized into 3 categories of green, amber and red. Red is obviously C-level players.2. Ascertain skills needed to perform the job well. Doing this can be as simple as identifying the five top talents that a candidate has, and then matching those to a position requiring some or all of those skills.3. Possible potential successors.Though there is no formal competency model in place, most obvious candidates to serve as successors have been identified.4. Feedback is sought from managers and leaders at all levels throughout the company.5. Commit to developing internal talent and monitoring their progress.Since its more cost effective to promote from within, which often results in better leadership as the person is well versed with organisation culture, knows people and their style of working and how to manage them.

"Mining Company" record form

Key position Title:

Name of Back up candidate:

Current title

Department:

Level of readiness:

within 1 year1-3 years3-5 years

Strength of this position:

Development needs:

Remarks:

Date:

Completed by:

Table 8: Talent Management Form at Mining Company

Mining Industry doesnt have dearth of qualified hi potential hi perfoemers and Mining Company is not an exception. At Mining Company we normally keep record of a potential leader who can be nurtured in future for leadership position taking into consideration his/her strength, team work, development needs if any to reach a particular leadership position are recovered in a record form. Also time frame is ascertained to determine the readiness of the potential leadership candidate. Key position TitlePerson Name holding the positionPosition vulnerabilitySuccession Candidates name

open in 1 yearopen within 1-3 yearsopen within 5 yearsready within 1 yearready within 1- 3 years ready within 3- 5 years

Table 9: Bench Strength record at Mining CompanyOver the years it was noted that all those senior leaders who ahd contributed for the companys success are almost about to retire or have already retired and big vacuum will be created if we do not develop someone from within or if we do not hire.And hence this lead to keeping records of strengths and weaknesses of each employee joining us with some years of experience or someone who has been with us for years together. It is obvious that pressure felt by the company and action taken to ease out the pressure is directly proportional to the subsequent competitive performance.

Hence Pressures, Actions, Capabilities Enablers (PACE) was accepted as seen in Aberdeen group research. PrioritiesPrioritised PressuresPrioritised Actionsprioritised Capabilitiesprioritised Enablers

1Improve Company's bench strength in key postionsexternal leadership development programperformacne management capabilitiesAutomated tools to track high achievers with management potential

2Identify High-Potential early and retain those high-potsposition succession planning as a key retention strategystrengthern leadership development and mentorship programsScenario planning that can identify talent early and adjust the needs when changes occur

3difficulty in finding candidatesinvesting in sourcing and assessmenr startegies in the pre-hire stagescareer profiling and internal recruitmentAutomated solutions that are competency based

4unexpected loss of key leaderslook for long term strategic planningplan ahead, proactively, less emergency driven processautomated tools that plan for the future and keep talent pipeline filled

Table 10: Aberdeen Groups PACEPACE and Competitive Framework How They Interact Companies that identify the most impactful pressures and take the most transformational and effective actions are most likely to achieve superior performance. The level of competitive performance that a company achieves is strongly determined by the PACE choices that they make and how well they execute.

"Mining Company" Leadership Development plan

Name:__________Title:_______

Overall performance summary:

(Major accomplishments, Performance issue)

Key strengths:

1)

2)

Development needs:

Development Actions

1) OJT

2) Special Assignment

3) Training

Potential for promotion:

ready for next level

will be ready in 1-2 years

will be ready in 2 - 3 years

recommended next positionYesNo

Table 11: Leadership development plan record form in Mining Company

Introspection of Talent Management at Mining CompanyPage - 28 -

Section 5: Change Management

Change ManagementAs the name suggests Change managementis an approach to transitioningindividuals, teams and organisations to a desired future state. Change is the coping process of moving from the present state to the desired state that individuals, groups, and organisations undertake in response to dynamic internal and external factors.Change can vary in complexity from the introduction of relatively simple process to transforming the strategies and design features of the whole organisation. Thus Change Management is the effective management of a business change such that executive leaders, managers and front line employees work in concert to successfully implement the needed process, technology, or organisational changes. So it can be safely said that Change can be a time of exciting opportunity for some and a time of loss, disruption or threat for others. How such responses to change are managed can be the difference between surviving and thriving in a work or business environment. Change is an inherent characteristic of any organisation and like it or not, all organisations whether in the public or private sector must change to remain relevant. Goals of change managementThe Goal of change management is to implement these business changes quickly to:1. Mininmise the impact on productivity2. Avoid unnecessary turnover or less of valued employees3. Eliminate any adverse impact on customers4. Achieve the desired business targets Change can originate from external sources through technological advances, social, political or economic pressures, or it can come from inside the organisation as a management response to a range of issues such as changing client needs, costs or a human resource or a performance issue. It can affect one small area or the entire organisation. Nevertheless, all change whether from internal or external sources, large or small, involves adopting new mindsets, processes, policies, practices and behaviour. Irrespective of the way the change originates, change management is the process of taking a planned and structured approach to help align an organisation with the change. In its most simple and effective form, change management involves working with an organisations stakeholder groups to help them understand what the change means for them, helping them make and sustain the transition and working to overcome any challenges involved. From a management perspective it involves the organisational and behavioural adjustments that need to be made to accommodate and sustain change.While each organisation needs to consider the best way to approach change based on their particular cultural and stakeholder perspectives, factors common to successful change management (in both the private and public sector) involve: Planning: developing and documenting the objectives to be achieved by the change and the means to achieve it. Defined Governance: establishing appropriate organisational structures, roles, and responsibilities for the change that engage stakeholders and support the change effort.Committed leadership: ongoing commitment at the top Management level and across the organisation to guide organisational behaviour, thereby walk the talk.Informed stakeholders:encouraging stakeholder participation and commitment to the change, by employing open and consultative communication approaches to create awareness and understanding of the change throughout the organisation.Aligned workforce: identifying the human impacts of the change, and developing plans to align the workforce to support the changing organisation.

An overview of Change Management at Mining Company: Established in 1957 merely as a mining organisation, Ming Company is an alliance of companies in the Mineral Resources Industry committed to social and economic advancement of its communities.Alliance comprises of various companies at different locations. The alliances activities include resource development ranging from Mineral Exploration, Excavation and Mineral Processing, logistics surface as well as Marine and Sales both International and domestic.Technological advancements cover several areas such as mineral processing with high gradient magnetic separator, Haulage with adherence to Tier -3 standards and Maritime logistics deploying and successfully operating floating cranes.Second largest exporter of iron ore from India with 16.6 million tons of sales including exports to countries such as Japan, China and Romania.Being merely a mining Company in 1957 to the conglomerate in 2014, this transition hasnt been smooth and the Company had to implement changes in mining technology which was merely manual mining to mechanical mining, from a stereotypical personnel management Human Resources Development, This process was not at all simple. This involved promoters willingness to embrace and accept the fact that latest technology in mining will take the company from merely 2 million tons export to 16.6 million tons.It involved recruiting best talent in the industry, attractive compensation packages, offering attractive VRS schemes to the existing staff, moving old employees who have really contributed to the growth of the company but cannot cope up with whirlwind changes were elevated to advisory/ retainer roles and new leaders were brought in to replace them. This did not happen overnight. Case 1Acquisition of Rock Phosphate lease at RajasthanMining Company, found itself at a crossroads once this lease was won. Operational strategy was to recruit local son of soil and rest of the management was from Mining Company existing staff which is used to Mining Company culture. Mining Company needed to overcome several daunting cultural challenges. Its workforce was highly fragmented, divided by geography, operations, language and high illiteracy. Even before we could start operating there, Employee Union was formed and the relations with the Union were strained. This meant, the company also needed to improve strained relations between management and its powerful employee union.As a result of these cultural rifts, Mining Company rarely hit production targets, leading analysts to question the Rajasthan mining Unit's ability to achieve expected growth. We were also losing top talent to competitors. To restore confidence, the young and dynamic Managing Director decided to take rains in his hands and first step that he took was to establish structured change management process. He ensured that the company was united by shared values; a major step towards putting Mining Companys newly acquired Rajasthan Unit on track for sustained growth.A transformational change plan was established and a new set of cultural values was introduced. An elaborate roll-out plan was designed to communicate the cultural values. The collaboratively developed launch plan was designed to deliver quick wins and long-term improvementsnew safety standards, language training, community projects and employee awards. Clear communication was not the only solution. But Change champions were identified from among the workforce, who with continuous communication, discussions refined the plan. This resulted in quick wins long term improvements. Broad themes were further broken down into a set of clearly defined values for improved performance and accountability, teamwork, safety, respect, integrity and pride.Regular discussion workshops and focus groups of workmen were put to use to gather feedback and refinement was done. For workers, a culture with well-defined values and committed teamwork means a safer workplace. Matrix for past 2 years shows that Mining Companys Rajasthan Unit has improved performance and is making strides towards reaching its growth targets.

Merger: Was it GROWTH, market share, synergy or something else?Mergers and acquisitions are common occurrences in any economic environment. Whether the markets are up or down, or the deals are friendly or hostile, M&A can be a key element of your companys strategy to create additional value and maximize sustainable competitive advantage.A number of factors including strong corporate balance sheets, cash-rich companies looking to consolidate their industry positions, and low interest rates that allow for greater leverage are driving high levels of M&A activity in todays marketplace.With changing scenario in mining industry, Mining Company went in for merger of sister concerns. This lead to a major change in working style of employees, market share, ethics and believes, values and Principals.

Insight of Change Management process at Mining CompanyChanged Management process implemented in phased manner. This phased changed management process can be broadly categorized in 3 distinct phases Where in in Phase 1 involve Preparing for change: 1a) Change Management Strategy Urgency creation: Hype was created why merger was necessary. Statistical data was in power point presentations were designed to convey why the merger should take place and how the company and employees can be at advantage. Removing Obstacles: biggest challenge ever. Merger got very mixed responses from staff at both the Companies. A special task team was introduced of the staff which was supporting the merger and they were on their job to talk out and understand the resistance for merger and further convince the opposing staff. 1b) Change Management Team Team Building: Chairman Assigned Managing Director who is young and dynamic alumnus of London School of Economics to be leader of this very Change Management exercise. He personally handpicked his change agents coming from across all levels of hierarchy. This eased out conveying the importance of merger. Each team member was assigned specific responsibility 1c) Sponsorship Model: a structure was put in place where in change sponsors were identified and various aspects of merger were assigned to them with clear identifiable output. Change agents who were responsible for not only communicating the importance but actually carrying out the merger work including coordination of activities associated with merger process.

Table 12: Governance Committee for Change Management at Mining Company

Readiness Assessment: Managing Director and his team had to assess readiness of the employees for the change merger. Several questions were asked and answers were sought Assess the scope of the change, including: How big is this change? How many people are affected? Is it a gradual or radical change? Assess the readiness of the organization impacted by the change, including: What is the value- system and background of the impacted groups? How much change is already going on? What type of resistance can be expected? Assess the scope of the change, including: How big is this change? How many people are affected? Is it a gradual or radical change? Assess the readiness of the organization impacted by the change, including: What is the value- system and background of the impacted groups? How much change is already going on? What type of resistance can be expected? Assess the change sponsors and take the first steps to enable them to effectively lead the change process.Phase 2 Managing Change Development of Change management plans for MergerIs there sufficient synergy potential to justify the merger? Does the merger provide the perspective needed to retain customers and valuable employees?These and many such questions have to be answered before any further step towards merger to be taken. The most successful acquisitions are those undertaken with a clear objective in mind. Your strategy and the contribution of the targeted acquisition must therefore be clearly formulated. This produces a picture of the ideal candidate on which to base your search. Even if a company unexpectedly comes up for sale, it is important to have a good strategic reason. Obviously, the candidate must be checked against the strategy and the profile of your organisation.Even before everything has been finalized, it is important to prepare a general plan for the first 100 days following the merger. This should contain matters like management appointments, communication to stakeholders, the retention of good customers and key employees.

ObjectivesPeople and Organisation related outcome

GrowthSenior management team expected to make discrete changes in performance goals

Some new entrants may join top team

Expected administrative efficiencies in term of common support functions

Process and systemic integration may be considered in specific areas depending on the

SynergyTop teams to collaborate on key areas of synergy. Other areas are left intact.

DiversificationLoosely coupled management teams

Expected administrative efficiencies in terms of common support functions

Joint reporting to the holding company/corporate office

Separate identities and logos.

Horizontal and vertical integrationIntegrated top teams

Merged administrative systems in terms of common support functions

Tightly coupled core processes

Single corporate identity

Better partnership working

Pooled Resources

Table 13: Change Management objectives at Mining Company

With these objectives a concrete plan had to be designed to go for merger.Employee benefits and new employee policies had to be designed which should be win-win for employees of both the companies. Biggest challenge for the Human Resources Department was to start from scratch and reinvent the whole process of recruitment, compensations and benefits, rewards and recognition etc. with merger surplus employees were moved to new responsibilities, and extremely attractive VRS scheme was introduced.

Development of Workforce Integration planThis included customization of project plan. Assigning accountability to individual employees with deadline dates.Workforce Integration team members were to be communicated with all theseHR Due DiligenceComplete due diligence check list, collection of reviewing of data, checking for potential liabilities was done as part of HR due diligence.Those concerned were communicated with some adverse observations if any to determine necessary actions.Benefits comparison to analyse differences in valuesComparison of benefits and compensation given to employees to assess differences was done. Compensations and benefits strategy for workforce integration was developedVision and business strategy were reviewed and a combined organisation structure was designed with emphasis on core competencies and supported business strategies.Leadership needs by position were also chalked outMethods were devised to address duplicate functionsAssess individual candidates to select leadership for the new combined organisationStaffing requirements were determined by reviewing department functions Level of severance pay and outplacement was determinedPreparation of employee communication strategyMethodologies for initial announcement were determined which wont shock the employeesMessage content / presentation material / questions and answers and welcome package were developed Merger Announcement meetings were held to let the employees know about the sameOne on one meetings of employees with the Management were held along with HR meetingsAnnouncement was also done in town hall meetings Knock thrice- this mantra of communicating merger plans was communicated at least thrice at different forums Weekly transition newsletter were prepared to keep the employees updatedFacilitators were assigned the taskTransition data requirement was determinedData requirements and availability assessment was done for preparing data for transferTest data for transfer was also preparedEmployee retention strategy was developed Change leads to stress and hence employees were provided with help to manage through the changeMultiple training and development opportunities were provided to retained employees to adapt to new work culture. Rigorous employee surveys were conducted to know the opinion of employees Post-merger integrationHow do I ensure the integration gets off to a flying start? How do I actually create synergy? What is the right balance between speed and due care? Which business functions should be integrated? How do I manage the integration?Research shows that in 60-85% of mergers and acquisitions, the pre-established financial objectives are not met. This is mainly due to the integration process being performed too late or not completely. However, the potential of a merger or acquisition can only be fully fulfilled if there is also a focus on value creation and value realisation besides purchase benefits.An acquisition or a merger is an important investment which needs to be recouped. Economies of scale are one way of doing this, but often the creation of new value is required too. This can be achieved by entering new markets or developing new products and services and introducing them to the market, for example.This requires a vigorous and decisive new organisation. Treat integration as a project and set up a solid project organisation. This facilitates the fastest possible transfer to the line. Furthermore, a successful post-merger integration requires a focus on business culture and a willingness to actively work together.Introspection of Talent Management at Mining CompanyPage - 49 -