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People Philosophy
Nicholas Piramal is in many ways a unique organization. With
a long history of Mergers and Acquisitions, NPIL is an amalgam
of many cultures, most of them being multi-national in nature.
As a result the company has develop its own Nicholas Way -
a best practices programme that imbibes the best of all cultures
and creates its own - one that reflects unity in its diversity.
Because of a conscious M&A strategy over the years, the
harmonization of cultures at the company has been challenge
that we have successfully met. It is a story that has been
heralded in the Indian pharma industry, wherein the Nicholas
Piramal skills at efficiently integrating all acquired companies
at the people, finance and manufacturing levels.
Nicholas Piramal's strongest attributes are the unwavering
focus on ethics, transparency, corporate culture, stakeholder
relationships, contribution to society and a commitment to
growth!
Nicholas Piramal is a company that dares to dream the impossible
and motivates and empowers its 4,000 strong team to go on
and achieve it. It is a work culture that is focused on high
performance, innovation, entrepreneurship and empowerment,
based on mutually beneficial personal development that understands
and helps employees manage their dreams and goals.
A key element of Nicholas Piramal's success is the empowerment
of its people, with a strong performance and consequence management
element, where the company uses a proprietary formula to convert
employee Key Result Areas into a performance-based pay system,
with parity with industry pay structures and a stress on internal
equity with all employees.
The HR system is designed with transparency and feedback
as the primary pivots of employee evaluation and growth. It
identifies leaders who can be thrown up quickly through a
combination of self and sponsored learning. Organisational
learning and study opportunities are provided by the company
through dedicated, regular training programmes run throughout
the year for all members of the sales, marketing and research
teams.
Given the fact that the company is in the intellectual capital
driven business of pharmaceuticals, Nicholas Piramal lays
great stress on Knowledge Management and development as a
Knowledge-based company.
Nicholas Piramal, as a consequence of its HR practices, has
attracted some of the finest talent in industry. Its senior
management team of 41 comprises 39 people who are Doctorates,
MBAs, CAs or have post-graduates from some of the best institutes
in India and across the world. Their work experience also
spans some of the top global and Indian firms in their industry.
In keeping with the M&A ethos, Nicholas Piramal has built
a culture where diversity thrives, thanks to its skill of
integrating acquisitions quickly and efficiently, contrary
to most practices in industry. People from acquired companies
at all levels are able to quickly craft and define a career
process and follow it up very successfully. The company has
several such examples in Finance, Sales and Marketing and
Manufacturing who are now at top or senior management positions.
Within its acquired companies Nicholas Piramal has set up
a culture wherein talent at all levels with leadership potential
can be spotted quickly and potential leaders presented with
an opportunity to grow. This can be seen from the fact that
the attrition levels within acquired companies are largely
lower than industry norms.
At Nicholas Piramal with its accent on entrepreneurship,
the company has recently delayered management to create growth
and entrepreneurial opportunity. Entrepreneurial spirit among
middle and senior management is encouraged with high levels
of empowerment. Communication is also a priority for top management.
The company's Chairman regularly shares successes and triumphs
with the company as a whole through personalized meetings
and digital house-journals, which reach to more than 3,000
employees.
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