Oil and Natural Gas Corporation (ONGC)

PROFILE:Oil and Natural Gas Corporation Limited (ONGC) was founded on 14 August 1956 by the Indian state, which currently holds a 69.23% equity stake.It is an Indian multinational oil and gas company headquartered in Dehradun, India. It is one of the largest Asia-based oil and gas exploration and production companies, and produces around 77% of India's crude oil (equivalent to around 30% of the country's total demand) and around 81% of its natural gas. It is one of the largest publicly traded companies by market capitalization in India. ONGC has been ranked 357th in the Fortune Global 500

list of the world's biggest corporations for the year 2012. It is also among the Top 250 Global Energy Company by Platts.

HUMAN RESOURCE POLICY OF ONGC

ONGC is a blue chip Maharatna Public Sector Company maintaining its dominant position and leadership in energy business. As the company aspires to be a global leader in Integrated energy business through sustainable growth, knowledge excellence and exemplary governance practices, our progressive and innovative Human Resources Policies and systems have created an enabling milieu which facilitates recruitment, retention and nurturing of world class human capital for leadership in energy business. They believe that HR Policies and interventions have the inherent responsibility of organizational transformation and effective change management through progressive adoption of techniques and structures that accord precedence to action oriented goals and continuous resource development. It is with this goal in perspective that our Human Resource policies focus on key areas like talent acquisition and retention, training and development, compensation management and social security.

The company hires the best available talent in various disciplines through a rigorous selection process. It also visits the campuses of leading educational institutions to head hunt the critical talent based on its requirements. Training and Development of human resources is another priority area. The training infrastructure comprises of ONGC Academy located at the Headquarters in Dehradun as well as Regional Training Institutes (RTIs) at other locations. Apart from regular in-house training programs, various management development programmes are organized in association with the best management institutes of the country to keep the executives updated with latest management philosophies and concepts. Other HR initiatives like mentoring and coaching to nurture and groom fresh talent who join the company and Assessment Development Centre (ADC) to test the managerial faculties of the experienced lot and prepare

them to assume higher responsibilities in the future are also undertaken on periodic basis. The company HR leadership believes that in order to sustain its edge, it needs to win the war of talent continuously as it cannot afford to lose its rare talent pool to competition. Accordingly, various measures pertaining to compensation and welfare of employees are undertaken and the same are revised / modified periodically according to changing circumstances and requirements. Needless to mention that all statutory benefits are duly provided. Social security is another area that ONGC HR policies emphasize on a continuous basis. We have policies in place that ensure the social security benefits not only during service but also after retirement. Some of the prominent measures in this respect are top class medical facilities to employees and their dependents including parents, Composite Social Security scheme

which provides financial security to dependents of deceased / permanently disabled employees and PRBS (which is a kind of pension benefit). A trust called Sahyog Trust has been established which provides financial assistance to our secondary workforce during various contingencies.

Sincere efforts are made to meet the aspirations by adopting best in class HR practices. Various benchmarks studies pertaining to employee satisfaction, motivation, organizational culture and climate are periodically conducted by in-house expertise as well as by external agencies in order to introspect and understand the pulse of the employees and take corrective measures. Such actions become all the more important because of the uniqueness of business that ONGC is into and the rare talent pool that ONGC possesses to run and manage such an exclusive operation.