Atul Ltd 2019-20

Management Discussion and Analysis 55 The Company has an in-house Internal Audit department and is also working with reputed audit firms specialising in internal audit function. Together, they have the responsibility to bring excellence in the function and introduce best practices in all key areas of operations required to manage a growing business which now comprises subsidiary, associate and joint venture entities. They also cover Atul Foundation and entities overseen by it. The Company is planning to further strengthen its Internal Audit department particularly in the areas of data analytics, procedures and technical audit. The Company considers its people to be its biggest asset and credits its sustained improvements to their ethics, dedication and energy. It is its endeavour to offer a work environment and HR processes that promote creativity, teamwork, meritocracy, learning and leadership. HR Unit is continuously upgrading its processes related to recruitment, training and development, performance management and succession planning in order to manage a dynamic and growing business. The objective is to have a diverse and inclusive group of people who are motivated and develop internal leaders who are able to prepare and build a Company that is future-fit and purpose-led. The HR managers comprise those in the central team and those partnering with the different businesses | functions (including subsidiary, associate and joint venture entities). HUMAN RESOURCES In addition, the Company regularly works with external professionals and organisations for specific initiatives and cross-pollination of ideas. During 2019-20, the number of people increased by 333 from 2,574 to 2,907. Wage settlement for Atul site is under negotiation. Employee relations at all locations remained cordial. To commemorate the occasion of 125 th birth anniversary of its enterprising and inspiring Founder, the Company appreciated the contribution of every member of Team Atul by sharing a small token of gratitude. The Company is planning to further strengthen its HR processes particularly using ‘technology’ to empower and develop people, unlock the capacity for growth and build capabilities for the future.