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In 2009, a vision
map was drawn
up, detailing what
Bacardi India
wished to achieve
by 2015. Clear
targets were set
for senior
managers.
People who performed well
and had good potential were
identifi ed as top talent.
They were groomed for
bigger roles in the company.
Today, Bacardi India is
growing 40 per cent
annually, outstripping the
industry average of 17 per
cent. Attrition rates have
come down to 12 per cent.
bring in talent. The marketing director position, for instance, was vacant. But instead of a replacement,
he hired Arvind Krishnan as a marketing controller in February 2008, to work alongside Gautam
Gangoli, who had joined a year earlier.
Krishnan joined the company from Luxor, a writing instrument maker, where he was the Senior Vice
President for Business Operations. "Bacardi was in the process of charting a new career path, and the
challenge of turning things around attracted me to the company," he says. Krishnan is now Vice
President and Brand Managing Director for Bacardi's Dewar's whiskey in the United States.
"A marketing director may not have joined the company then, as
Bacardi was not doing too well and did not have resources. But for
mid-level professionals like Krishnan and me, it was an exciting
opportunity to turn things around and grow," says Gangoli. "Splitting
the portfolio between two strong midlevel marketing controllers who
directly reported to Madhavan helped," he adds.
Madhavan also initiated discussions with consulting firm Right
Management in November 2008 to give the company a clear focus.
"Mahesh was clear about where he wanted to take the organisation but
was not sure whether the team would be able to do it. He was
extremely transparent," says Chaitali Mukherjee, Country Manager,
Right Management.
Bacardi India's global parent wanted long-term business targets, from
2008 to 2014, and the initial meeting with Right Management was
about business goals. "But, as we continued our discussions, we
realised that the probability of success depended on the people who
would chase them," says Mukherjee.
In February 2009, a vision was drawn up for the company, detailing
what it wished to achieve by 2015. Clearly defined goals and targets
were set for Madhavan, those reporting to him and function heads
across verticals, such as sales, HR, and marketing.
The leadership competency - the parameter of the 'right leader' for Bacardi India - was defined in line
with the global organisation's requirements as well as local market requirements. "Using that
framework as the base, we assessed close to 30 key leaders to understand their individual strengths
and challenges," says Mukherjee. People who did not match up were asked to leave.
Among those facing the axe was a senior executive who headed a function and reported to Madhavan.
"It was a tough decision, as Madhavan was facing a leadership crunch, but he decided to do away with
him," says Mukherjee. The company's existing talent was also nurtured with a 12-month executive
coaching programme. Eight key leaders, including Madhavan, Gangoli and Sanjeet Randhawa, who
was Director, Finance, were coached individually for larger roles by senior business coaches from
Right Management.
The consultancy's team looked at past performance data and drew up a Performance/Potential matrix
for each executive. People who scored high on both parameters were identified as top talent. Those
who scored high on one of the axes, or who were in key leadership roles but came low on potential
were identified as people who needed to be worked with.
Through these assessment systems, Bacardi India was able to restructure the organisation in terms of
interim and longterm restructuring. Existing talent, including Gangoli, was groomed for bigger roles and
new talent was hired when the need arose.
The sessions were held once a month, and each leader had a different coach. "I was someone who
was impulsive and hot headed. The coaching taught me how to think and act like a CEO, adapt to
different cultures, and look at things from a 360 degree angle," says Gangoli. "I learnt about the
paanwaala syndrome from my coach Sudhir Chand. A paanwaala manages everything single-
handedly. I learnt to be able to handle things single handedly and I still use this approach when I am
stuck," he says. Gangoli was made Managing Director of Bacardi Thailand in August 2011, and has
now moved to China as a Commercial Director.
With investments picking up from 2010, Bacardi India started introducing more brands and hiring
people from strong and diverse professional backgrounds. For instance, the new HR Director, Saurabh
Upadhyay, was hired from Nokia in 2010. The new Sales Director came in from Pernod Ricard.
The company also instituted more town hall meetings and ensured better communication with the
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FROM THE ARCHIVES | Who is
Mahesh Madhavan?
Executive Summary: In 2007, Bacardi India was floundering. Enter
Mahesh Madhavan. After successfully transforming the fortunes of Bacardi Thailand, he took on the
challenge of repeating the feat in India. Madhavan quickly revamped the company, hiring new talent,
firing underperformers and steering it to a new set of longterm goals. In less than five years, he
transformed Bacardi India - its turnover has tripled and it is growing 40 per cent annually.
When Mahesh Madhavan was appointed Managing Director of Bacardi India in August 2007, the
company was on a downward spiral. Bacardi Superior, a white rum that constituted about 95 per cent
of its spirits portfolio, was losing market share at the rate of eight per cent annually. And while the
industry was growing 18 per cent a year, Bacardi India was lagging behind at 11 per cent. (Retail
consultancy Technopak estimated the size of the liquor market in India to be $1.64 billion in 2006.)
"The loss in market share was because of many things," recalls Madhavan. The global parent had cut
investments in India between 2004 and 2007, and the brands started to decline. "Investments were
diverted to markets providing a better return on capital." Sensing a decline, about 66 employees quit in
those three years. For a company whose headcount was 71 when Madhavan joined, that was massive.
While conventional wisdom would call for loyalty rewards, some of those who remained would face the
axe. "The team was a mix of different types. Some were very passionate and talented, and some were
floaters, who were sticking around simply because they couldn't get a better job elsewhere," says
Madhavan. "We had to get rid of the deadwood and inject some fresh energy, ideas and passion."
MESSAGE IN A BOTTLE

THE PROBLEM
Sales of Bacardi's top brands were declining. Market share was falling
THE CHALLENGE
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In 2009, a vision
map was drawn
up, detailing what
Bacardi India
wished to achieve
by 2015. Clear
targets were set
for senior
managers.
People who performed well
and had good potential were
identifi ed as top talent.
They were groomed for
bigger roles in the company.
Today, Bacardi India is
growing 40 per cent
annually, outstripping the
industry average of 17 per
cent. Attrition rates have
come down to 12 per cent.
People in the company lacked the skills needed to drive performance
THE SOLUTION
A complete revamp of HR processes
THE RESULT
The buzz is back and so are sales
Madhavan, who was the Managing Director of Bacardi Thailand prior to his India stint, was not new to
people problems. Bacardi Thailand had a turnover of baht 300 million (around Rs 32.2 crore then) when
Madhavan joined it in 2000. The problems there also had to do with people. "I got a lot of people off the
bus, and a lot of people on the bus," he says. By the time Madhavan left, the company had a turnover of
baht 1.2 billion (around Rs 129 crore). Perhaps, it was because of this turnaround that he was picked
to steer the Indian operations.
There were problems aplenty in India, most of which were on the human resources (HR) front. The
company did not have an HR team. There were no clear processes, and no distinction between high
and low performers. "If I'm not performing, and you're doing a fantastic job, you'll wonder why you're
breaking your back. So we had to initiate a culture based on performance," he says.
Madhavan also needed to hire people. But he faced budgetary restrictions and had to find other ways to
bring in talent. The marketing director position, for instance, was vacant. But instead of a replacement,
he hired Arvind Krishnan as a marketing controller in February 2008, to work alongside Gautam
Gangoli, who had joined a year earlier.
Krishnan joined the company from Luxor, a writing instrument maker, where he was the Senior Vice
President for Business Operations. "Bacardi was in the process of charting a new career path, and the
challenge of turning things around attracted me to the company," he says. Krishnan is now Vice
President and Brand Managing Director for Bacardi's Dewar's whiskey in the United States.
"A marketing director may not have joined the company then, as
Bacardi was not doing too well and did not have resources. But for
mid-level professionals like Krishnan and me, it was an exciting
opportunity to turn things around and grow," says Gangoli. "Splitting
the portfolio between two strong midlevel marketing controllers who
directly reported to Madhavan helped," he adds.
Madhavan also initiated discussions with consulting firm Right
Management in November 2008 to give the company a clear focus.
"Mahesh was clear about where he wanted to take the organisation but
was not sure whether the team would be able to do it. He was
extremely transparent," says Chaitali Mukherjee, Country Manager,
Right Management.
Bacardi India's global parent wanted long-term business targets, from
2008 to 2014, and the initial meeting with Right Management was
about business goals. "But, as we continued our discussions, we
realised that the probability of success depended on the people who
would chase them," says Mukherjee.
In February 2009, a vision was drawn up for the company, detailing
what it wished to achieve by 2015. Clearly defined goals and targets
were set for Madhavan, those reporting to him and function heads
across verticals, such as sales, HR, and marketing.
The leadership competency - the parameter of the 'right leader' for Bacardi India - was defined in line
with the global organisation's requirements as well as local market requirements. "Using that
framework as the base, we assessed close to 30 key leaders to understand their individual strengths
and challenges," says Mukherjee. People who did not match up were asked to leave.
Among those facing the axe was a senior executive who headed a function and reported to Madhavan.
"It was a tough decision, as Madhavan was facing a leadership crunch, but he decided to do away with
him," says Mukherjee. The company's existing talent was also nurtured with a 12-month executive
coaching programme. Eight key leaders, including Madhavan, Gangoli and Sanjeet Randhawa, who
was Director, Finance, were coached individually for larger roles by senior business coaches from
Right Management.
The consultancy's team looked at past performance data and drew up a Performance/Potential matrix
for each executive. People who scored high on both parameters were identified as top talent. Those
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Bacardi has tackled people
very boldly and effectively,
unlike many organisations:
Sridhar Ganesh
who scored high on one of the axes, or who were in key leadership roles but came low on potential
were identified as people who needed to be worked with.
Through these assessment systems, Bacardi India was able to restructure the organisation in terms of
interim and longterm restructuring. Existing talent, including Gangoli, was groomed for bigger roles and
new talent was hired when the need arose.
The sessions were held once a month, and each leader had a different coach. "I was someone who
was impulsive and hot headed. The coaching taught me how to think and act like a CEO, adapt to
different cultures, and look at things from a 360 degree angle," says Gangoli. "I learnt about the
paanwaala syndrome from my coach Sudhir Chand. A paanwaala manages everything single-
handedly. I learnt to be able to handle things single handedly and I still use this approach when I am
stuck," he says. Gangoli was made Managing Director of Bacardi Thailand in August 2011, and has
now moved to China as a Commercial Director.
With investments picking up from 2010, Bacardi India started introducing more brands and hiring
people from strong and diverse professional backgrounds. For instance, the new HR Director, Saurabh
Upadhyay, was hired from Nokia in 2010. The new Sales Director came in from Pernod Ricard.
The company also instituted more town hall meetings and ensured better communication with the
leadership team through offsite sessions. In addition, it rationalised performance bonuses and salaries,
rewarding top performers and letting go of the bottom five per cent.
Today, Bacardi India's revenues are growing 40 per cent annually, outstripping the industry average of
17 per cent. The company has grown more than three times over the last five years. And attrition rates
have come down to 12 per cent. In 2007, it had just two senior leaders: Madhavan and Randhawa.
Today, Bacardi India has a fullfledged leadership team in place, including function heads for sales,
marketing, human resources, operations, and finance.
Many leaders from Bacardi India have gone on to take up larger, global roles. While Gangoli headed
East, Krishnan shifted to Miami, and Amit Dutta, a brand manager, moved to London this year as
Global Brand Manager in Bacardi's travel retail division.
Madhavan feels vindicated. "It takes around four to five years to turn a company around. These
postings show the global team recognises Indian talent," he says with a sense of satisfaction.
EXPERTS SPEAK
PEOPLE AGENDA
There is considerable learning in this case, not just for similar companies, but
for India Inc as a whole. Making the 'People Agenda' the top boss' agenda is
the starting point. Bacardi appears to have got its basics right. It has tackled
people issues very boldly and effectively, unlike many organisations, which
flirt around people issues. It has addressed the core, providing answers to the
universal questions that every employee asks: "Tell me what I am supposed
to do", "Tell me how I am doing", "Help me to perform better". These are
fundamental questions in any organisation worldwide.
Full marks to Mahesh Madhavan and his team. In India, most organisations shy away from tackling
these issues head on and carry on believing (rather erroneously) that they will get addressed
somehow. They often forget that it is not the process but the "spirit behind the process" that needs to
come alive. That is a self-limiting belief, which, if not challenged, can lead to the sort of situation that
Bacardi faced in 2006/07.
Another great takeaway for me is the close cooperation between Madhavan and the HR consultant. The
growth story highlights the power of line and HR working together to create a magical workplace, where
both results and people-care not only co-exist but actually flourish. This partnership is a rare
phenomenon. Instead, what is common is the lament from either side about how uncaring and
incapable the other is. It takes only that little step to come together but alas, we see it rarely.
Sridhar Ganesh, Director HR and Lead Director Diversified Business Group, Murugappa Group
VISIONARY LEADERSHIP
Bacardi is a case of good turnaround management. The company was losing market share rapidly,
attrition rates were impossibly high, and people were demoralised. In such a situation, Mahesh
Madhavan brought a 'fresh eye' to view the situation. Setting a vision for the organisation (with the
support of its consultant) was a crucial step. Any vision/mission exercise brings the team together.
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The next challenge for
Bacardi in sustaining
enthusiasm levels and
interest the board: Asha
Bhandarker
Madhavan participated in the exercise along with the team and together they
charted the path to be taken in the medium term. This sort of exercise builds
morale and people bond together to build their collective future. Above all it
builds clarity of direction and trust, and is a good way to start getting the
organisation back on track. The other interesting thing Bacardi did was to
bring performance-reward clarity, which motivated high performers to reach
tough targets. Clarity has a powerful and positive effect on performance.
Potential identification and talent management was another important step.
Identifying the right talent and placing it in the right role can dramatically
increase efficiencies and returns. People were convinced they were valued
and being prepared for bigger roles. One of the biggest mistakes companies make is to not take the
role-talent fit seriously, thereby living with sub-optimal performance.
The next challenge will be in sustaining the levels of enthusiasm and interest across the board. This is
because, in any difficult situation, the troops get together and pull things through, but after a while
monotony may set in and reward/recognition practices will need to be creatively addressed.
Asha Bhandarker, RML Chair Professor of Leadership Studies & Dean, Research and Consulting, MDI,
Gurgaon
Did Bacardi India address the problem effectively? Would you have approached the company's HR
challenge any differently? Write to us at btcasestudies@intoday.com. Your views will be published in
our online edition, and the best comment will win a Harvard Business School Press pocket mentor.
Previous case studies are at www.businesstoday.in/casestudy.
For more news from Business Today, follow us on Twitter @bt_india and on Facebook at
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Posted by: manish gayakwad
December 24, 2013
Organization is a group of people and not of top lev el management. If y ou can address each and ev ery indiv idual of
org than no doubt y ou will hav e better organization culture. We can learn following lessons from this case study ,
1 ) Motiv ation, simple word but deep meaning. Motiv ating y our employ ees at right place and right time is v ery
necessary . 2) Managing intellectual capital is as important as of wealth management. 3) Each employ ee is part of
organization and y ou should not neglect ev en a single one. Suggestion for motiv ating employ ees, - Recognizing
them - Non-monetary rewards -Giv e them training -Mix of experience and freshers. -short term target.
Posted by: Rakesh K.Ranjan
May 24, 2012
Bacardi India was losing the market share and the confidence lev el of inv estors was dipping in the Indian
operations before 2007 . Ev idence of leadership firmness in improv ing the business was not seen during this
period.
In such industrial scenario, good resources tend to leav e the organization and incompetent people continue to stick
with. As a result, attrition of top performers was found high and the organization was left with uncertainty . This
is a perfect example of Business Head taking the ownership of HR agenda with joining of Madhv an in India.
Turnaround story of the organization essentially depends upon the line becoming the HR spoc of the team.
Calibration of Performance and Potential of leadership team is essential to driv e the culture of Performance in the
organization. Mapping of existing leadership team against the desirable performance and potential parameters
and hiring of the new team basis the required competencies were the important steps in curing the organization
and also making it "future fit".
Organisation support to the existing team was ensured by organizing coaching session for those who need and
thereby trust of people started building in the organisatipon. Restructuring of the organization was the need of the
time to make it effectiv e. New structure was future focused and optimized Span and Control of the organization.
Infusing new Talent from div erse background has giv en new perspectiv e in the organization. Through the abov e
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interv entions, Bacardi India started becoming grooming ground for global talent and the organization resumed
trust of inv estors. Some of the leadership team mov ed ov erseas to handle bigger responsibilities. Business agenda
are getting married with the People Agenda is the key reflector in the journey of success of Bacardi India.
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Posted by: Akshat Kapoor
May 24, 2012
Bacardi India genuinely addressed the problem quite effectiv ely and professionally .The good thing about the
solution that Bacardi India took was that it was in a clear sy stematic manner.
As in 2007 it lost lot of it's market share which was due to people in the company hav ing lack of skill to driv e the
performance and also lack of HR team to actually define and distinguish the parameter for the under and ov er
performance.
As far as the rectification goes the company got it right to firstly set up an HR team and secondly to set up clear
goals and objectiv es according to both global and local market requirements and finally recognizing the actual
talent because at times it might be the case that those who under-perform might hav e talent but are demotiv ated
by the company 's no clear cut policies on performance based on rewards.
Further with the estimation of parameter on which not only the talent but potential talent was recognized,it
required time more than resources which they did inv est and they got paid off well for their efforts.
It should be a lesson for other companies who, rather than getting into the bottom of the company 's problem, links
it with just spending spending more money and simply apply ing hiring and firing policy for all under-performers
without actually understanding the root cause of employ ees being under-performers.Because under-performance
does not alway s means lack of talent.
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Posted by: Suresh Menon
May 24, 2012
I read this interesting article on Turnaround of Barcardi. According to me 3 basic factors helped Bacardi India to
increase their rev enue and turnov er.
1 ) Appointment of a leader with a Clear Vision and Goals for next 5 y ears.
2) Doing away with underperformers and motiv ating, hiring talanted professionals who believ ed in the Brand
3) Once the Team was placed, ev ery one worked towards the achiev ement of Company Goals
4) Appointment of Right Management to train the leaders.
Ev ery one needs a mentor in their liv es, and this is one of the best thing Bacardi management did.
Posted by: K Nagraj Bhat
May 24, 2012
Human potential for an organization is one of the most v ital and important reflection of its organizational culture
and ethos. In fact, it's an irony not to find this most v aluable asset in the Balance sheet of an organization. Bacardi
like many reputed organization has undergone through the quagmire of assessing its intrinsic human potential to
meet its Global v ision in the competitiv e market scenario.
It's a unblemished truth that a company in need of transformational change requires a adept driv er in the driv ing
seat hav ing distinct v ision and great mental strength to face the adv ersity and steer the boat out of troubled
waters safely . BACARDI fortunately has found the leader Mr. Mahesh Madhav an at the right time, who has
blended the v ision of the company with its Global parent thereby prov iding BACARDI India a right direction and
impetus to work.
Its a wonderful case study for any organization who would like to realize the true potential of its human resources
by cleanly putting the right people at right places at right time to unlock their true potential and strength in
meeting organizational Goals. BACARDI not only identified the burning needs of its time to nurture the Middle
and Higher Management Team to take head on challenges of the market, but also ensured that the performers get
their due recognition and thereby creating a energetic motiv ating atmosphere in the company .
"Inv entory is like a dead wood, if it's not mov ing fast" is a simile which correctly analogize the personnel i.e.
employ ees of an organization. BACARDI has taken well thought steps in tackling the situation by continuous
churning their human potential by prudent training assessment and ev aluation to bring out the cream out for
best utilization of talent in meeting company 's impending goals.
The issues were not only dealt effectiv ely by their Leader but also dev eloped excellent performers in the
organization thereby creating v alue in organizational efficiency .
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Posted by: Praveenkumar Keskar
May 24, 2012
It will be great disarray , when the firm loses its market share besides the growing industry rate. In such cases, the
firm needs to hav e a great paradigm shift which may lead the concern on the growth path.
In order to hav e such a change the organisation needs to focus on the concepts of Organisational dev elopment
which begets the success. The top management should hav e the interv ention in all the heads which are treated as
Key Result Area & Key Performance Area. In, Bacardi the KRA is the Sales, which is facing towards the bottom &
the KPA was to retaining the HR which was suffering from high attrition rate.
First, With respect to the Bacardi's problems, the firm's management was successful in addressing the problem
effectiv ely . As the KRA & KPA as stated abov e were seen climbing the ladder with respect to industry growth rate.
The company had focused on all the constraints which had become an obstacle for it.
Secondly , when the matter comes about HR challenges, it resembles to the ty pical. The company had lost all the
key play ers by whom the company used to follow by . In such cases it is bit difficult to bring the rational change.
It is difficult to understand the indiv idual strengths & challenges possessed by them & to match up with the
requirement. But the firm was successful in doing such, as it showed the door of exit to the key leaders whose
competencies nev er match up with requirement. Ev en after cleaning the unwanted & unskilled Human Resource,
Bacardi was able to attract new talents from the strong professional background. This leads the company to grow
the new heights.
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Posted by: Jaininder Alavadhi
May 24, 2012
Bacadi did the right thing by boldly addressing people issues. A company 's employ ees are its biggest assets but if
assets are depreciating they become a burdening liability . Mr. Madhav an had to make tough decisions and made
them right. His experience from Thailand must hav e helped. By addressing people issues and process issues, one
can achiev e sustainable growth. Mr. Madhav an has shown v isionary leadership.
Posted by: Ankit Shah
May 24, 2012
It is interesting to read the case study of Bacardi in the Business Today dated May 1 3, 201 2. Mahesh Madhav an
had got the nerv es of the business. Lot many times it happens within corporate when something goes wrong with
the sales of the Company instead of identify ing the problem increase the marketing spends.
Madhav an had rightly understood that the reasons of decline of sales, it was not the marketing alone but the
problem was underly ing in its most v aluable asset - its human capital. Madhav an try to unleash the same with
the help of Right Management so they experience euphoria of achiev ement.
As per my opinion the case had unturned all the important areas of human resources management. To start with,
such a big MNC was not hav ing the HR team; this was the basis of the problem as there was no performance based
rewards, so there was no pressure for the team to perform. Madhav an was needed to hire people but with a
constraints of budgets.
So, he had kept trust on his team and hired Arv ind Krishnan to work along with the Gautam Gangoli rather than
replacing him. HR function is to hav e clear cut well defined roles of each position. Madhav an sets up the Vision
201 5, defined roles of each leader in line with the parent company 's requirements as well as local market
requirements.
Madhav an had also not deterred to take harsh decisions in asking people to quit where they were not fit in the goal
settings. It was not only to cut costs, but to set the right sy stems, they had ev en recruited fresh talent as and when
the need arose. The organization needs to be agile hav ing dy namic and flexible sy stems.
During the training when the managers learnt something new, instead of being adamant on their past sy stems,
they had experimented with the new and better things as reflected by Gautam Gangoli who still uses panwallah
sy ndrome learnt from his coach Sudhir Chand as and when he gets stuck.
The case also reflects the importance of third party inv olv ement, Bacardi had worked v ery closely with Right
Management, who was hav ing some different management v iew of the organization compare to their employ ees.
The third party can help us locate the root cause of the problems which the company was not able to identify as
they hav e a fixed set of v iewing the things.
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Lastly , Madhav an was also a v isionary leader, where he had felt proud and hav ing sense of satisfaction, when his
team members went to take up larger global roles. The leader is the one who allows his team to mov e ahead as per
their caliber and does not force them to stay with him and keeps them suffocated.
In this age, each day people want to experience the high that comes with the ov ercoming challenge, successfully
out thinking and out maneuv ering the competition. This case reflects the real stuff required to face the challenge,
ov ercoming the same and coming out in fly ing colours.
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Posted by: Kalyan Chatterjee
May 24, 2012
Bacardi India has indeed taken well articulated steps in dealing with HR issues. The results were v isible. A
company with high lev el of demorality requires stern and strict steps to deal with and enforce v alue in the
sy stem. To immediately pull company out of torment, the steps taken were justified which included no blatant
ov erconfidence and Madhav an inv olv ing himself and top lev el officials in trainings.
In spite of Bacardi steered out of downfall, i do feel that Madhav an did lost a possible chance of breakthrough. With
the existing business lev els all time low, i would not hav e let the underperformers go out. With lay offs, there is a
definite sense of fear and sometimes demotiv ation starts prev ailing in the company . The feelings become stronger
with older employ ees who think more in terms of ethics and v alues.
The rewards giv en to high performers are undermined to lay offs with the underperformers. After all news of
death is reacted more sharply by public than that of somebody dev eloping six pack abs. Taking further the
discussion of breakthrough in business process or product, during such a case i would hav e hired a consultant for
study ing market for products similar to existing product profile, hav ing a potential for huge demand and future
market. The team of underperformers to be giv en a chance to associate for the breakthrough management.
I would hav e definitely cut down there perks and salaries and would hav e issued warnings. This way i will be
gaining four step adv antages:-
1 ) Creating a platform for a breakthrough, which may lead the company to new heights.
2) Making the underperformers realize about their performances and thus justify ing the pay cuts. Also giv ing
them an opportunity in a new area would make them zealous and cautius about there performances, Zeal and
Caution being a must requirement for any innov ation. Also the pay cuts would hav e lowered the input cost for the
breakthrough project.
3) The high performers would hav e felt much secure and the rewards would hav e kept them motiv ated.
4) Last but not least, the company would hav e gained the reputation of employ ee friendliness and thus keeping
attrition rate further low. There are some results-positiv e or negativ e, which show off little late, but impact huge
to a company and same should be taken care of well ahead it ev er appears.
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Posted by: Ajinkya Kadam
May 10, 2012
Technically many organisations hav e similar which remains unanswered, but what Madhav an & his team did
has helped to explore Bacardi india to new heights, Whichev er step Mr. Madhav an has taken it refelcted a bold
decision making character, with v isionary approach to it. Grt work!
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