Tata Steel braces up

• tanvi_singh
• December 22, 2009

Almost a third of Tata Steel’s senior managers will retire over the next 2-3 years. The company is also grappling with the issue of retaining top talent in the face of intense competition from other industries.

“A number of our people, nearly 25-30 % of our senior managers, are expected to retire from service within the next 2-3 years. This is a big challenge for us,” Tata Steel MD HM Nerurkar said. He was speaking at CII’s National Conference on Leadership on Monday. Tata Steel has a total workforce of 82,000 globally, including operations in India and Corus in Europe.

“We need to see how we can take on new people At the same time, there is the problem of talent getting pinched from us. In the last few years, we have faced a problem of retaining top talent,” he added.

Tata Steel had a practice of putting top talent in charge of new greenfield projects . As work got stalled and projects started getting delayed, the company was faced with the problem of how to best utilise them, Mr Nerurkar said. “Unless, we can use them, they will get frustrated and won’t stay. We are thus also faced with the problem of retaining our top people,” Mr Nerurkar added.

Sharing Tata Steel’s global experience of managing its people resources amidst a dynamic economic situation, Mr Nerurkar said “While the market is shrinking in Europe, we are trying to lower the breakeven point to stay in business . In India, we cannot grow fast enough. Talent management is a problem . Each country is going through a different economic phase and unless we respect and understand global challenges,
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• Last Modified: December 22, 2009
• Filed Under: Latest News, MARKETS, NATION, WORLD