ONGC pulls ex-staffers back into fold
Two months ago, ONGC invited applications from ex-employees, who wanted to work for the company again.
By Rajeev Jayaswal, TNN |
NEW DELHI: If you thought PSUs were dreary workplaces inhabited by people with a predeliction for monotony, you’ll be proved wrong in just a moment.
ONGC has succeeded in drawing back talent lost to its more glamorous private sector competitors like Reliance, Cairn and Essar, reversing a brain drain that began five years ago - it has steadily lost nearly 550 experts to private oil companies.
The public sector oil major has received over 300 applications from highly qualified technical experts working in private oil companies. Most of these candidates are former ONGC employees.
Two months ago, ONGC invited applications from ex-employees, who wanted to work for the company again. “It has been an overwhelming response. We have received about 300 applications and are continuing to receive them,” ONGC director (HR) AK Balyan told ET. Among the applicants are highly qualified professionals and technicians in disciplines such as geosciences, drilling, production and finance.
ONGC has, at the same time, made it clear that it’s not a dumping ground. Not all those who want to come back will be absorbed. Re-induction of former employees would be a one-time initiative and selection would be based on merit, experience, qualification and skills acquired during the severance period. For exceptionally deserving candidates, ONGC is even willing to relax selection criteria like age or qualifications. “We are targeting completion of the process within this financial year,” Mr Balyan said.
It is hard to believe that people who are experts in their fields are willing to give up fat pay packets offered by private companies for coming back to a PSU.
The recent changes in the company’s management style are also said to have acted as a pull.
The change in ONGC’s HR policy is timely as the oil industry is facing a major manpower crunch with increased exploration and production activities around the globe. Addressing an industry meeting recently, petroleum secretary MS Srinivasan also acknowledged that manpower shortage was mainly due to increased exploration activities. “Today, five times more wells are drilled than five years ago,” he said.
rajeev.jayaswal@timesgroup.com
ONGC has succeeded in drawing back talent lost to its more glamorous private sector competitors like Reliance, Cairn and Essar, reversing a brain drain that began five years ago - it has steadily lost nearly 550 experts to private oil companies.
The public sector oil major has received over 300 applications from highly qualified technical experts working in private oil companies. Most of these candidates are former ONGC employees.
Two months ago, ONGC invited applications from ex-employees, who wanted to work for the company again. “It has been an overwhelming response. We have received about 300 applications and are continuing to receive them,” ONGC director (HR) AK Balyan told ET. Among the applicants are highly qualified professionals and technicians in disciplines such as geosciences, drilling, production and finance.
ONGC has, at the same time, made it clear that it’s not a dumping ground. Not all those who want to come back will be absorbed. Re-induction of former employees would be a one-time initiative and selection would be based on merit, experience, qualification and skills acquired during the severance period. For exceptionally deserving candidates, ONGC is even willing to relax selection criteria like age or qualifications. “We are targeting completion of the process within this financial year,” Mr Balyan said.
It is hard to believe that people who are experts in their fields are willing to give up fat pay packets offered by private companies for coming back to a PSU.
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According to industry experts, salary is just part of the decision - people need better quality of life in terms of job satisfaction and guaranteed employment. The recent changes in the company’s management style are also said to have acted as a pull.
The change in ONGC’s HR policy is timely as the oil industry is facing a major manpower crunch with increased exploration and production activities around the globe. Addressing an industry meeting recently, petroleum secretary MS Srinivasan also acknowledged that manpower shortage was mainly due to increased exploration activities. “Today, five times more wells are drilled than five years ago,” he said.
rajeev.jayaswal@timesgroup.com
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