45 The biggest asset of the Company are its people; it is promoting a culture that empowers its people to be the best version of themselves essential to foster high engagement and consistent improvement in performance. It is creating a learning organisation and building end-toend capabilities to be future-ready as its businesses further evolve and expand – it is committed to pervade technology in all its HR processes. During 2022-23, the Company took four key people related initiatives: i) leveraging learnings through the period of COVID pandemic, it introduced flexi-time at Atul site, made four Saturdays per month off for locations other than its manufacturing sites and further liberalised medical reimbursement via medical insurance for its entire workforce, ii) it concluded a five-year settlement (instead of earlier three-year) with the union at Ambernath site of Atul Bioscience, iii) it commenced adding HR team members in businesses and functions so as to take the decision-making closer to where it is most required, iv) it digitalised recruitment process (that is from recruitment to selection); digitalisation of recruitment process post-selection is under progress. One of the key tests for the Company is to develop internal leadership pipeline and ensure that a much smaller number joins from outside in senior positions. This need is being addressed in five ways: i) preparing and executing development plan, ii) interactions with higher management, iii) participating in functional and cross-functional projects, iv) selflearning, v) attending courses (related to functional and people leadership). This will be further supported by an enhanced performance management system and improved promotion process. HR is also working with internal functional and crossfunctional teams to bring further clarity on the roles for better delivery of performance. Employee relations at all locations remained cordial. The number of team members in the Company increased from 3,449 to 3,528 – the number comprises its own team members and those working for its retail businesses, information technology and finance via four subsidiary entities, namely Atul Crop Care, Atul Consumer Products, Atul Infotech and Atul Finserv. The number excludes team members in associate, joint venture and other subsidiary entities. Human Resources
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