Page 65 - Tata Steel One Report 2024-Eng-Ebook HY

Business Operation and Performance Driving Business Towards Sustainability or take extended leave, or who manage special
assignments that yield high achievements.
4. Organizing competitions to reward employees for improvement initiatives, such as enhancements for customers, safety improvements, and promoting innovation projects within the Tata group (Tata Innovista), as well as the DMAIC Competition, among others.
5. Providing Productivity Incentive Pay to employees in departments that meet their monthly KPIs.
Employee Engagement
The Company assesses employee engagement levels by periodically conducting surveys to gauge satisfaction and engagement. The findings and analysis of the survey data are categorized into various target groups, with the improvement plans divided into two segments. The first segment pertains to the corporate level, which is addressed by the Apex Human Resources Committee, while the second segment focuses on divisional improvement plans developed by the Human Resources Department in collaboration with Line Managers and representatives from different functions. This approach ensures that the improvement plans for employees are promptly tailored to meet the diverse needs of each group. Furthermore, a reverse feedback evaluation is implemented to allow employees to express their opinions to their supervisors, thereby promoting their involvement in organizational development and nurturing positive relationships as a basis for fostering a collaborative and understanding work environment.
Welfare and Benefits
The Company’s vision prioritizes the happiness of its employees. In line with this, the Company offers comprehensive welfare benefits that encompass all aspects of employment, including support during illness and assistance upon termination of the employment contract. This welfare is extended not only to employees but also to their families and parents. Additionally, the Company provides various services and support to assist employees in overcoming challenges, thereby enhancing their quality of life. The Company is committed to the continuous improvement and renovation of workspaces, rest areas, restrooms, and other facilities. These enhancements are also based on suggestions from employees.
Corporate Governance Policy Financial Statements Attachments
A key policy regarding the provision of services and benefits to employees is the commitment to actively listen to their feedback through multiple channels. This approach serves as a means to understand employees’ needs and to gather input for improvements aimed at increasing satisfaction. The channels for feedback include Welfare Committees, Employee Committees, Suggestion Boxes, Employee Satisfaction Surveys, Salary & Welfare Surveys, Exit Interviews, and direct feedback from supervisors, as well as meetings between VPs and employees, and interactions with the President & CEO.
Employee Relations Activity
The Company is fostering strong relationships with its employees and their families by prioritizing their well- being at every stage of life. For instance, the Company celebrates new graduates among its employees by acknowledging their achievements at universities, extends congratulations on the occasions of marriages and childbirths, holds ceremonies to award scholarships to employees' children, participates in merit-making events for employees' ordination, visits employees or their families who are receiving medical treatment in hospitals, and attends the funerals of any deceased employee or their family member.
Furthermore, the Company consistently organizes a variety of activities for its employees, including sports competitions, New Year parties, community service initiatives, health promotion events, employee clubs, massage services provided by the blind, stretching exercises, and programs specifically for female employees such as self-defense classes and health and self-care workshops. Additionally, the Company provides a weekly newsletter and conducts activities aimed at enhancing essential knowledge for the future, covering topics such as savings and investments, as well as physical and mental health care, among others.
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