Indian Firms Investing Megabucks on Leadership Pool

Kolkata: At a time when most Indian firms have cut costs to improve bottom lines in a sluggish economic environment, a select few are taking a different route and investing substantially on developing leaders. At least a dozen owner-driven companies, including CK Birla group, Dr Reddy's, GMR, Jindal Steel, Reliance Industries and Sterlite, are said to be investing between 5-15 crore on leadership development over and above their regular training allocation.

"Leadership development is now being oriented for the growth of the company in domestic and global markets as also for the succession plan," says Yogi Sriram, Senior Vice-president, Corporate HR of India's largest engineering & construction conglomerate L&T, which offers leadership programmes across all levels and functions.

"Today's leaders need to be more agile and flexible to make course changes, in challenging situations and in turbulent times," says Sriram. "These skills can be inculcated via leadership programmes by providing '270 degree' feedback from the head of the department, juniors and customers, which help the individuals develop leadership behaviours and consistency. "In order to perform sustainably in today's competitive markets. The ability to innovate and to satisfy stakeholders depend on the quality of the leadership," says Sonia Stojanovic, who had served as a senior practice expert in organisation behaviour at McKinsey's New York office.

Also Read:
5 Unusual Ways You Can Borrow Money for Your Business
Know Why Insurance For Women Is A Must