Mukesh Ambani-led Reliance Industries, the country's most valued entity, has more than doubled its employee base in the past two fiscal years to over 25,000 people.
Besides, in its efforts to make the employees part of its growth story, RIL disclosed having granted close to three crore stock options to over 14,000 employees, estimated to be worth about one billion dollar at the grant price and about $1.9 billion at the current share price.
Its head count rose to 25,487 at the end of 2007-08, up from 12,540 employees two years ago as on March 2006.
However, during the fiscal 2007-08, the head count rose by just about 800 employees from 24,696 as on March 2007, while the company's employee cost rose by about Rs 25 crore during the year, according to RIL's latest annual report to the shareholders.
The company has seen its workforce swelling for four consecutive years now. Prior to that, the head count had fallen in 2003-04 by more than 1,500 employees. While in 2002-03, it rose by close to 50 employees, it had fallen for four straight years between 1998-99 and 2001-02.
RIL said in its annual report that its employee cost rose to Rs 2,119 crore in FY'07-08, up from Rs 2,094 crore.
The previous year's figure includes Rs 376 crore towards expenditure incurred on Voluntary Retirement Scheme/Special Separation Scheme in the erstwhile IPCL's Vadodara unit.
The company, which has become the first private sector company in India to have a cash profit of over Rs 25,000 crore, said that one of the "key" reasons for the exponential growth of Reliance is undoubtedly its "people". RIL figures among 25 largest employers in India.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment