How Raymond is Nurturing Future-Ready Workforce?

The Goal: To evolve every employee into a beacon of expertise, capable of navigating the complex landscape of the future and solidifying Raymond’s position at the vanguard of quality and innovation.

Nurturing Future Leaders

As Raymond approaches its centenary in 2025, the focus is on nurturing future leaders who can contribute to decision-making and shape the company’s future. This transformation journey is not just about preserving a legacy but continuously revitalising it through cutting-edge technology and innovative training initiatives. Raymond is committed to ensuring that every employee becomes a beacon of expertise and adaptability, maintaining its pinnacle position in quality and innovation.

Vision and Commitment

KA Narayan, president-HR, Raymond, articulates the company’s vision:

“Over the years, our competitive advantage has been our ability to manufacture products of high quality. However, with advancements in technology—particularly in manufacturing 4.0, supply-chain logistics, and quality engineering—we recognised the necessity to upgrade our current talent’s knowledge and skills.”

Raymond’s commitment to skill development was triggered by the evolving technological landscape and the need for continuous improvement. The company recognised the importance of retaining and transferring its rich internal knowledge base, developed over years by senior employees, to the next generation. As a market leader, Raymond also faced challenges in finding external talent with the same proficiency levels as its internal experts, underscoring the need to develop talent within to sustain its market leadership.

Raymond Leadership University (RLU)

Raymond’s solution was to launch the Raymond Leadership University (RLU), creating a structured pathway for skill development and leadership training across various functional areas. The university comprises several functional schools, including manufacturing, quality, supply chain, finance, and human resources (HR). Each school focuses on equipping employees with the skills and knowledge needed to excel in their respective domains.

To enhance this initiative, the company partnered with a renowned skill university to develop the curriculum. The syllabus was meticulously crafted by Raymond’s internal experts, leveraging their extensive experience and understanding of industry requirements. This collaboration ensured that the training programmes were tailored to Raymond’s specific needs while incorporating external academic rigour.

Leadership Development Programmes

Beyond technical skills, Raymond emphasises leadership development. The RLU offers multiple streams of leadership development programmes, catering to different levels of the organisation. These include:

Emerging Leaders Programme:

Identifies and cultivates high-potential talent early on, focusing on essential leadership and functional skills for future roles.
Transformational Leaders Programme: Targets mid-level managers, emphasising strategic thinking, change management, and advanced leadership to prepare them for significant responsibilities and organisational transformation.

Middle-Tier Leadership Programme:

Addresses the needs of experienced managers, enhancing their capabilities in critical thinking, financial acumen, and emotional intelligence to handle complex challenges effectively.
The company selects high-potential talent and exposes them to leadership competencies based on its competency framework.

“This training equips them to take on future positions and meet our internal talent requirements,” explains Narayan.

Involvement and Monitoring

To ensure these training programmes are relevant and effective, Raymond involves senior leaders and line managers in every step of the process. From identifying training needs to conducting classes and monitoring progress, the involvement of experienced managers ensures practical applicability and continuous improvement.

Narayan adds:

“We have a talent-governance board, including CEOs and myself, overseeing these programmes. Line managers play a crucial role in monitoring participants’ progress and how the training translates into workplace improvements.”

For junior-level leadership programmes, Raymond has partnered with IIM Lucknow, adding academic rigor through exams and performance evaluations. Additionally, external faculty members are brought in to teach specialised competencies, such as critical thinking.

Measuring Effectiveness

The effectiveness of Raymond’s skilling initiatives is meticulously measured through qualifying marks and action-learning projects. Participants’ performance is assessed based on their classroom engagement and practical application of skills under the supervision of line managers.

Engagement scores and retention rates are closely monitored to gauge the success of these programmes.

“While engagement levels have seen a significant rise, retention results have been more varied due to the high demand for skilled talent in the market,” reveals Narayan.

Employee Engagement and Retention

Raymond places a strong emphasis on employee engagement and retention. Policies such as market-benchmarked compensation and action-learning projects contribute to high engagement levels. The company continually seeks employee feedback to refine its programmes and ensure they meet the evolving needs of the workforce. Employees are also required to maintain journals documenting their on-the-job learning and contributions.

Future Initiatives

Looking ahead, Raymond is developing a talent framework that empowers employees to take ownership of their careers. Initiatives such as self-learning through a competency matrix and building future thought leaders within and beyond their functions are in the pipeline.

Narayan concludes:

“Our goal is to create a mechanism where employees feel they have acquired invaluable knowledge beyond their formal education. This is a work in progress, but we are committed to building a future-ready workforce.”

As Raymond navigates its journey towards its centennial, its focus on developing its workforce and bridging skill gaps positions it not just as a market leader but as a pioneer in nurturing talent for the future.