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HUMAN CAPITALOur people are at the core of our long-term success. At Thermax, we understand the importance of motivated employees in achieving our goals of creating high-quality products and providing efficient customer service. We constantly strive to become more inclusive and create an enabling work environment – one that nurtures a healthy organisation, encourages continuous learning, and ensures a safe workplace.
Total number of permanent
employees of Thermax Group (including
subsidiaries and excluding workmen)
No. of training man-hours
SO1
SO2
SO3
At Thermax, we understand the need to stay agile by reinventing ourselves continually. We reimagined our performance management system and made it more dynamic and meaningful – right from goal-setting to performance-related conversations to incentives and rewards. At Thermax, performance evaluation is intertwined with behaviours. As continuous listening forms the core of our organisation, we introduced an assessment of Customer, Lead, Own, Create and Collaborate (CLOCC) behaviours for our employees. Through CLOCC behaviours, our aim is to nurture a human organisation built on human values. We would like to see these behaviours unfold in the work we do each day and become an integral part of the performance management system.
In a powerful shift towards an outcome-based work environment, we introduced a flexible work policy, which helps employees focus on the output, rather than the number of hours, building a culture of accountability. Further, with the hybrid work model posing challenges to physical and mental health, sessions were conducted to create awareness on the dynamics of the new work model and methods of mitigating its adverse effects. Harnessing the power of conversations, we organised sessions on mental health awareness, discussing various issues faced commonly. We also enabled employees working from home to practice pranayam and meditation. To help them manage the health of their families, we introduced two key apps – Practo and Santulan.
In another key initiative, the National Safety Week was celebrated at all our locations and customer sites. Themed ‘Nurture Young Minds, Develop Safety Culture’, this was aimed at assisting people in performing the routine activities safely without any accidents and integrating occupational safety and health in the work culture. Employees, workmen, third-party staff and contractual workers participated in various activities across locations.
To provide full-fledged support in bringing down Covid-19 infections across the country, we ran a massive vaccination drive from March 2021 to April 2022. All our employees, including temporary staff at offices, plants and customer sites, were covered as a part of the drive. Through effective communication and engagement activities, we conducted sessions on increasing awareness on the spread of the pandemic.
Number of employees, contractors
and family members vaccinated
Vaccination drives conducted
across factories and sites
We, at Thermax, believe that while we continue to hire new talent, it’s equally important to retain the talent. With the resignation wave across India, our attrition is close to 13.9% for FY 2021-22. Since September 2021, trends have slowed, and some of the actions we have taken to retain critical talent have shown good results.
As of earlier this year, we corrected the salaries of 140 employees, and we plan to continue to do so further. To ensure we hire faster than attrition trends, we have set up a central staffing team to improve the quality and speed of hiring. Following Covid-19, we have also implemented policies such as flexible working and are exploring ways of how our offices can transform into collaboration zones.
Thermax offers a wide range of programmes for high-potential employees and well-established leadership trainings, ensuring benefits of all initiatives are maximised. Additional learning and development initiatives included coaching programmes held by externally certified consultants.
Compliance training conducted in December 2021
Attended by 449 employees
Sexual harassment at the workplace
Latest laws in India
Differentiation between casual and sexual comments
Impact vs intent
Complaint redressal mechanism
Aimed at developing managerial skills in employees transitioned from an individual contributor to a team leader role
Change management
Managerial essentials
Driving performance
Developing team
First-ever certification programme conducted under Honeycomb
Over 200+ functional modules designed with the help of 100+ small and medium enterprises
150+ people trained to conduct trainings on these modules and provide certification
2,000 learning hours completed in FY 2021-22
10 modules from Honeycomb project management cluster along with pre and post assessment
18 participants from Environment Business Unit (EBU) certified
Aimed to build and develop personal effectiveness arising out of appraisal cycle and potential assessment of fixed term contract
Identifying the gaps and development / enhancement to make employees future-ready to take on higher roles and responsibilities within functions
The programme is conducted at three levels – I Grow, I Grow+ and I Excel
Helps participants in managing:
- productivity and performance
- self and ecosystem
- stakeholder relationships
Intervention launched for individual contributor to accelerate the learning journey
To enhance participants’ skills to drive performance, productivity and safety
To share experiences of SMEs, managers as coaches to bring different perspectives and handle critical situations
To leverage technical and behavioural competencies to perform better, ring-fence customers and create win-win situations
Sessions were organised with managers and coaches on awareness of learning tools, course coverage and coaching essentials
HR to ensure that learning is a part of the process
Application of Learning (AOL) was enforced through structured tools, integration into the process, and review by business
The programme is designed with pre and post assessment to handle work complexities, technology and safety & compliance
In-house sales training
Training on sales management cycle
conducted for five divisions in six batches;
one batch of eight sessions for sales
managers conducted for the sustenance of
training learnings
- 48 sessions of sales management cycle
completed
- 148 sales engineers and managers
completed the training
A programme for middle-level managers to build managerial capability and ability to drive performance and groom team members
Conducted for 40 managers of the Heating division with two batches running simultaneously
A total of 12 sessions conducted in four months, with assignments embedded
It is important for every organisation to create a high-trust, diverse and inclusive workplace where everyone feels equally involved. At Thermax, we are committed to create an organisation which nurtures talent and enterprise of people, helping them grow and find fulfilment in an open culture. We have introduced various forums and initiatives to manage the emotional well-being of employees. ‘Sakhi’ is one such all-women forum which promotes an inclusive workplace for women employees. It works to connect their interests, enhance learning and networking opportunities, provide an environment for growth and development and help them emerge as potential leaders.
Thermax is working towards the creation of an inclusive society and altering the narrative on disability. We understand the need for organisations to embrace compassionate capitalism and harness the untapped potential among the specially-abled. To extend this vision of inclusivity, we hired four specially-abled individuals at the Sri City plant as apprentices who were made to undergo relevant training. These employees have been well-accepted at the plant and have received immense support from their colleagues. They have also attained a great sense of pride for having become financially independent and also providing adequate support to their families.
