First PSU Summit

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First PSU Summit held on July 19, 2014

Summarization: 19th July 1st PSU Summit 

The Summit started with the welcome speech by Director, IIM Rohtak. Dr Arup Roy Choudhury(CMD, NTPC), the Keynote Speaker,  emphasized that PSUs are the growth engines of the economy and spoke on the need of channelizing HR in order to overcome the constraints faced by the Indian PSUs.

The first panel talked about identifying talent, building teams, trusting the teams and thereby transforming the organization. The integration of HR with business management is a key issue faced by the PSUs. Performance management systems are one of the emerging techniques for HR Transformation.

The conclusion of the second panel was that to be a successful global operator one needs to be flexible, have openness in thoughts and beliefs. As an initiative it is important to take along people from different culture and linguistic orientations.

Summary of Panel 3 discussion:

Panel 3 professed that emotional commitment is the unchecked and unvarnished commitment of the employees for the success of the company. HR should create a culture where ideas flow and hierarchy should be reduced to minimum. There should be a concept of co-ownership in the organization as the employees are its most important asset. There should be unity of effort and unity of command to bring synergy and encourage learning.

Panel 4 concluded specifying the need for revamping the old and developing the best practices on HR front for the Indian PSUs.

To sum it up we would like to quote one of the panel member that at the end of this summit we should dispel some of the HR myths surrounding PSUs and hopefully the 1st PSU Summit at IIM Rohtak has strived to achieve some of it.