Human Capital

The Company is progressively working towards creating an empowering environment that embraces diversity and inclusion. SRF is committed towards fostering a diverse and inclusive workplace, free from any sort of harassment and/or discrimination based on gender identity, age, ethnicity, sexual orientation, disability, faith, or marital status. SRF has adopted the Women’s Empowerment Principles, along with 3,000 other organisations around the world, partnering with UN Women on the critical journey of achieving gender equality. The principle emphasises the business case for corporate action to promote gender equality and women’s empowerment. SRF is an equal opportunity employer that values a gender-balanced workforce.

SRF places focus on sensitising people, especially leadership, to constantly challenge the hidden biases, and providing policies that support and encourage people from diverse backgrounds.

(Business Responsibility Report Principle 3, Click here )

Detailed break-up of SRF’s workforce is presented below:

* During FY 2021 - ’22, SRF also hired 3,187 temporary / contractual employees.

In addition, the Company has taken proactive steps that encourage disability inclusion by providing equal opportunities to people with disabilities. During the reporting period, SRF has 18 employees with disabilities in its employment.

(Business Responsibility Report Principle 3, Click here )

Detailed breakup of SRF’s employee turnover is presented below:

Training and Development

SRF believes that an organisation’s growth is directly linked to the growth and development of its employees. For this purpose, we offer on-the-job learning modules and trainings for all our employees to give them a chance to grow and enhance their skills.

To boost employees’ morale and meet dynamic organisational needs, we, at SRF, have a well-managed Training and Development process under which we conduct regular training programs and modules. These modules are divided into three categories, i.e., Technical, Behavioural and Functional. Under our Training and Development process, we identify individual training needs, and prepare an annual training calendar for all employees. Additionally, customised training programs are also deployed to attain the intended outcomes. The focus of development has shifted from being reactive to being proactive, keeping in mind new requirements imposed by the changing environment. Research suggests that post COVID, a competency that will decide the future of organisations is ‘Emotional Intelligence’ of the organisation’s human capital. SRF too, places emphasis on this competency and conducted several developmental initiatives across the organisation covering the entire management under this. For the year ahead, ‘Agility’ and resilience’ have been added to the list of competencies that need emphasis.

Not only this, we, at SRF, also believe in instilling a culture of safety at the workplace. For this, we conduct safety and self-defence trainings, fitness classes and employee assistance programs as part of our well-being initiatives.

Below table highlights training hours of contractual and permanent employees during FY 2021 - ‘22:

* In brief, during the year, 70% of the employees were covered under Health, Safety and Skill Training.

(Business Responsibility Report Principle 3, Click here )

Our skill evaluation system enables us to evaluate and improve the skill level of our employees. The skill level measurement is based on 3 core parameters: Assignment, Observation, and Interview, with each having different weightages. As a practice, we annually evaluate a majority of our employees on their skill sets over a range of technical parameters including:

(Business Responsibility Report Principle 3, Click here )

SRF has a long history of upholding and preserving human rights and is against all forms of discrimination and human rights violations. SRF has a zero-tolerance approach for human rights violations.

A strong leadership commitment is essential in building and maintaining an ethical culture where human rights are given utmost priority. SRF’s Human Right Policy covers the following aspects:

Protection against forced and/or child labour

Providing equal opportunity

Commitment towards compliance and adherence to all applicable laws pertaining to human rights

Protection against sexual harassment at the workplace

Providing a healthy and safe work environment

Encourage formation of various committees that have representation from the workforce and make suggestions on measures to improve working conditions in the Company

Committed to ensure continuous upgradation of the skills and competence of employees

Well-being of employees

Reporting human rights violations

The Code of Conduct and the Whistle-blower policies are the pillars of the Human Rights policy in the organisation. SRF maintains strict adherence towards protection of human rights with supplier/contractor and does not employ anybody below the age of eighteen years. SRF also prohibits the use of forced or compulsory labour across all units and discourages the same with the business associates/partners like suppliers, contractors, etc. During the current reporting period, there were no complaints relating to child labour, forced labour, involuntary labour at SRF. However, there were three complaints related to sexual harassment which were duly resolved. There are no outstanding complaints at the end of the financial year.

(Business Responsibility Report: Principle 3 & 5, Click here )

SRF provides a healthy work environment and offers equal growth opportunities to all its employees. The Company’s leave policy includes provisions for maternity and paternity leaves for all employees. Equal opportunities are provided to those who re-join after availing parental leave. Detailed break-up of parental leave entitlement and usage of these by employees in the last three years is highlighted below:

Performance Management and Feedback

Performance development reviews and feedback are critical pillars that shape the growth trajectory of employees in an organisation. At SRF, employees are evaluated on a regular basis and relevant positive as well as constructive feedback is provided to them to help identify their strengths and weaknesses. Adequate support is provided to them to help in minimising gaps and in leveraging their strengths.

SRF has adopted a robust performance management and development system which helps the organisation sustain a fair and transparent culture. All employees, at all levels, are evaluated and career development assessments and roadmaps are prepared accordingly.

As part of creating an open and transparent work culture, managers are encouraged to use 360-degree feedback mechanisms to receive regular feedback and adjust their working style accordingly.

SRF’s compensation philosophy is designed to ensure promotion of meritocracy, and rewards that are commensurate with a role’s market value. In fact, we maintain a high percentile position in the talent marketplace, especially for critical roles and resources. All roles are evaluated using a well-established and reliable methodology and accordingly grade structures are implemented. This is done once every 2-3 years to remain aligned to the market.

Maintaining a high level of Employee engagement is the cornerstone of SRF’s human resource management philosophy. Employee engagement activities are held on a regular basis and these help in building a strong relationship with all employees. The Company has adopted a systematic approach to assess the satisfaction levels of employees through an annual Employee Engagement Survey. The survey is crucial for the identification of critical areas of improvement, key issues or concerns, and recommendations for the future along with corrective action plans. According to the Employee Engagement Survey, the overall employee engagement was more than 90%. Several other externally conducted surveys like the Gallup Survey and the eNPS also offer anonymous options to employees to share their feedback. In addition, open houses and discussions with senior management are also conducted on a regular basis to solicit feedback from employees for the betterment of the organisation and well-being of all.

*eNPS is a score that indicates a former employee’s willingness to re-join the Company. Gallup Survey is an employee engagement survey. Both are calculated independently by an external agency.

Grievance Redressal Mechanisms

At SRF, we are cognizant of the value of grievance redressal systems and use these to strengthen stakeholder relationships and ensure efficient business operations. SRF has put in place formal grievance procedures that help in effective implementation of policies, protection of human rights and steering the organisation towards a more sustainable future. SRF offers several platforms to seek feedback and suggestions from its employees ensuring an inclusive culture across the organisation.

For this purpose, ‘People Redbook Systems’ have been put in place at various locations. These grievance handling systems provide a platform to employees to voice their grievances. Employees and workers can anonymously submit their grievances in offices and plants through complaint and suggestion boxes. The grievance procedures clearly outline the resolution process in a fair and independent manner while respecting confidentiality.

SRF believes in creating a culture of open communication so as to build a strong and healthy relationship with its workers. SRF has implemented robust systems, such as SA 8000, across several plants. They also monitor and ensure wellbeing of workers and provide a safe and productive work environment. The Company has set up various committees that have representatives of both management and workers and these provide a platform for communication and ensure transparency. These include employee associations, canteen committees, health & safety committees, etc., and significantly contribute to workers’ well-being and satisfaction.

These associations are recognised by the management and provide a forum for interaction and resolution of issues between management and employees. These employee associations have about 26% of permanent employees as members.

(Business Responsibility Report: Principle 3, Click here )

SRF strongly believes that safety is an integral part of conducting business. As a responsible organisation, SRF strives to ensure a safe and healthy working environment for its workforce.

To keep the employees safe, SRF educates them on the importance of safety practices and trains them to deal with adverse events and at the same time, trains them on ways to avoid such incidents. This is done through regular safety trainings and mock drills.

The Company strives to achieve zero injury/ fatality/incidents/accidents across all its plants and manufacturing units. The Company handles, stores and distributes its products in an environment conscious manner.

Emergency response plans, safety procedures and processes have been deployed across the organisation to ensure a healthy and safe workplace.

In addition to the above, EHS committees have been formed across plants to build a safety-oriented culture across the organisation. This helps in ensuring proactive identification and avoidance of safety incidents. SRF has systems in place to monitor and address issues at an early stage and help take pre-emptive measures and report near-miss incidents.

Concerted efforts are directed towards conducting health and safety trainings for the entire workforce on several aspects related to health and safety to drive a cultural transformation around safety in the organisation. The focus is also to bring about behavioural change even at the shop floor level through continuous trainings, awareness programs and proactive identification of unsafe situations. These include the following: -

SRF’s Packaging Films Business at Indore SEZ and DTA Plants are certified in accordance with the OHSAS 18001:2007 Standard, which is an international occupational health and safety management system. Also, these plants conform to the Five Star Occupational Health & Safety Standard.

The graphs below highlight the health and safety performance over the last two years:

Creating a safe workplace amidst the rising COVID-19 pandemic

SRF has undertaken several efforts to mitigate the impact of the unprecedented COVID-19 pandemic on its business and stakeholders. Some of the key initiatives undertaken amidst the rising COVID-19 cases in the county are mentioned below:

Staying virtually connected with employees

Reaching out to employees in distress

Implementation of guidelines and measures for ensuring social distancing and safe hygiene practices for common services

Deploying extensive communication including health/travel-related advisories

Ensuring scheduled sanitisation of workplace, vehicles and rest rooms

Enforcing guidelines for security personnel and admin staff in maintaining discipline

COVID-19 Insurance Policy coverage

Providing financial assistance to employees in need

Ensuring supplies, including food and medicines to employees in need

Tie-ups with virtual doctor programs to assist employees in need

Creating awareness on safe and healthy work practices for all employees and imparting behavioural trainings

Identifying areas of potential health hazards and taking necessary action