The company will follow a performance-based approach to promote employees, rather than a seniority-based one
A month back, Coal India made headlines after it decided to reduce its workforce from 3.4 lakhs to 2.4 lakhs in the next five years. In its most recent announcement, the Company has taken yet another step towards making its structure resemble a privately-owned company.
Known as the country’s third largest employer, Coal India has now decided to follow a private sector-like approach to its promotion policy. It will emphasise on performance rather than seniority. With this move, the state-run organisation hopes to retain some of its best talents.
The Company plans to implement this new system of promotion by December this year, as it feels that when the sector is opened up in the near future, it would be difficult to hold back talent if merit is not rewarded properly. This might affect production, in general.
Presently, promotions in the Company are based on interviews only, from the E-7 level onwards, while the rest are based on seniority. With the new approach, the Company hopes to embark on a journey where it can more than double its production from about 500 million tonnes to a billion tonnes in the next five years.