Finolex Cables Limited

By:- Sanam, Viraj, Gaurav

Introduction• ‘Finolex Cables Ltd’ is engaged in manufacturing various types of

electrical and communication cables.

• The company has manufacturing facilities in Pune, Goa & Uttarakhand.

• In Goa company is having three plants of which two are in Verna- industrial estate and one is in Usagao- Ponda.

• Plants in Verna Industrial Estate:- Manufacturing units

• Usagao plant :- Supplier of raw material i.e Copper to the company.

Vision Of The Company

• To maintain our leadership position in our area of our business through latest technology and the best Customer service.

• To continuously create new opportunities for growth and establish global presence.

• To enhance value generating capability of the Company in a globalizing environment, delivering superior and sustainable customer value.

Mission Of The Company

• To display highest commitment to excellence in product quality, service and enriching customers through added value.

• To build exceptional standards and systems for productivity, performance, safety, environment and quality.

• To expand manufacturing facility and distribution network to cater to all regions in the country.

• Empower and energize employees to embrace new ideas, learn continuously and build HR processes for continual capability development of its talent.

AccountsHuman Resource

ProductionQuality Control &

Assurance

Purchase

Managing director

MarketingSales

Product Design & Development

Management Representative

Attendance Record In Finolex• Every employee has a code and an ID card. They have to swap their

cards in the machine once they have entered or go out of the company.

• Every employee is given a grace period of 10 minutes from the time of their shift timings.

• Company also maintains attendance register at the main gate for employees.

• Daily attendance report- SMART Software

Cont….• Weekly off:- Every employee gets one weekly off every week,

therefore he can get the maximum up to 4 weekly off’s in a month.

• There is one register maintained by HRD where in they feed all absents, weekly off’s and any kind of leave taken by the employee.

SALARY STRUCTURETop Level Management:-

Components Monthly (Rs.51667) Annual (Rs.620000)Basic Pay 20,667 248,000

House Rent Allowance 6,200 74,400

Special Allowance 703 8,440

Car Lease Option 15,000 180,000

Leave Travel Allowance (LTA) - -

Conveyance Allowance 800 9,600

Medical Allowance 1,250 15,000

Meal Vouchers 1,100 13,200

PF Contribution by Employer 780 9,360

Yearly Performance Bonus 5,167 62,000

SALARY STRUCTUREHead Of Departments (Managers):-

Components Monthly (Rs.32865) Annual (Rs.394380)

Basic Pay 15050 180600

House Rent Allowance 3500 42000

Special Allowance 360 4320

Car Lease Option 9500 114000

Leave Travel Allowance (LTA) - -

Conveyance Allowance 430 5160

Medical Allowance 850 10200

Meal Vouchers 1,100 13,200

PF Contribution by Employer 570 6840

Yearly Performance Bonus 1505 18060

Benefits To Employees• Salary:- Rs. 8000/- to Rs. 12000/-• Bonus:- 5% to 10% of profit.• Medical Allowance:- 50% of the expenses• Meal Vouchers:- Rs.900/- per month• 25% Discount on Electric cables• Scholarship for children:- Rs.2000/-• Leaves:-

– Casual leave:- 12– Sick leave:- 10

Non- Monetary Benefits

• Tickets to local events:- Once in 2 months• Festival Gifts:- Diwali, New year, Chrismas• Company t-shirts, jackets, hats, cups etc.• Movie tickets:- For family, Once in 6 months.

HR Practices in Finolex• Finolex celebrates Birthday of each of the employee with cake

cutting ceremonies.

• Finolex also organizes Games and competitions between different departments.

Meetings• Managing Director organizes meetings with Head of different

departments:- Once in 15 days.

• Managing Director organizes meetings with HOD’s and other employees:- Once in 2 months

Recruitment

• Campus interview• Employment Exchange • Advertisement of job vacancy in News paper

• Requirements:- Qualification + Fluency in speaking and writing English + Physically fit

• The candidates who meets all requirements are shortlisted by HR dept and the shortlisted candidates called for personal interview.

Cont…..

• Personal interview with HR manager and Head Of Dept.

• Judging criteria:- Knowledge, willingness to move out, flexibility in meeting various challenges, convincing skills, leadership qualities.

• After selection: Induction:- Introduction of company details, Vision and Mission, its policy, product details, rules and regulations etc is conveyed to the selected candidates.

Performance Appraisal• Finolex follows 360 degree performance appraisal:-

EMPLOYEE

MANAGING DIRECTOR

HOD TEAM MEMBERS

PEERS

Performance Appraisal Of HOD’s

HOD

MANAGING DIRECTOR

MANAGING REPRESENTATIVE

OTHER HOD’s

EMPLOYEE

Cont…..

• Criteria for Performance appraisal:-– Job Knowledge– Ability– Communication skill– Team work– Attendance– Quality improvement– Leadership

• Scale:- Very good, Good, Average, Poor, Very poor

Increment

• Increment to an employee is given annually that is in the month of April every year, the increment is decided on the basis of performance of the employee ,so performance appraisal is conducted to see what percentage of KPI is achieved by an employee and accordingly increment is given.

Trainings

• Induction training is conducted for new employees.

• Product & Sales Management Trainings• Product Based Trainings• Electricians & Re-winders Trainings

Suggestions Given By Employees

• Improve increment, remuneration system and promotion policy.

• Need good leadership with motivational rewards.

• Timely training should be given to employees.

• If the employee resigns for some personal reason, company should look back to their personal problem and solve so that the company doesn’t lose any more employees.

THANK YOU