Corporate Social Responsibility Guidelines for PSU-Identification, Implementation and Evaluation

1. CONCEPT 1.1. Public Corporations have legal responsibilities to maximize shareholder profits; but a shift in corporate mindset led by social expectations and pressure is causing business leaders to rethink their responsibilities with respect to corporate performance measured in terms of economic impact, social impact and environmental impact – commonly called the Triple Bottom Line. 1.2. Economic growth is possible only through consumption of inputs available in the environment and society. The harnessing of natural resources has a direct impact on the economy, the environment and society at large. Corporate Social Responsibility (CSR) is a concept whereby organizations serve the interests of society by taking responsibility for the impact of…

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Posted in: CSR

What is competency?

Competencies are the characteristics of an employee that leads to demonstration and transfer of skills and knowledge, which results in effective performance within an occupational area. Widely accepted definition in human resources is, ‘an underlying characteristic. An ‘underlying characteristics’ means the competence is fairly deep and enduring part of person’s personality and can predict behavior in wide variety of situations and job tasks. There are five types of competency characteristics; ·         Motive – motives ‘drive, direct or select’ behavior towards certain actions or goals and away from others. ·         Trait – physical characteristics and consistent responses to situations or information. ·         Self concept – a person’s attitude, values or self-image.…

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Competency Mapping(CM)

Competition for the future is competition of opportunity share rather than market share. Competitive organizations possessing inherent strengths are exceptional in nature and they are likely to have an edge over others. The competency is needed to access the new opportunity arena and it is up to the corporation to bring these competencies together at appropriate time within the organization. To build the competencies, the organization needs to invest money and time to access tomorrow’s market and competition among variety of products. Whether the firm is small or large or a single product or multi-products, corporate strategy is primarily about the choice of direction based on its competencies for the…

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Gratuity Ceiling on superannuation/retirement raised in India

Department of Public Enterprise(DPE) in its recent amendment to Gratuity Act raised the maximum ceiling from Rupees 3.5 L to 10 Lakhs payable to PSU employees on superannuation/retirement. This has somewhere given PSU jobs a competitive edge over private jobs. The terminal benefits has exponentially increased in PSU which adds to greater satisfaction in employees who always plans their after job life. If an employee has served continuously in a Navratna PSU for 30-35 Years becomes eligible for approximately Rs. 40-50 Laks(includes all terminal benefits) at the end of term and the amount may be released in a very short while(i.e. within 2-3 months). Moreover generally young generation has question…

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