IndianOil- Workplace locations: 610 Business units: 40 Unique roles: 1,100
New Delhi   18-Apr-2009
It is fairly common for top-ranking officials at IndianOil, India's largest company, to leave and join other companies and earn a far greater salary. But the funny thing is that all of them do so only after retiring, almost never when they are with IndianOil. It boasts of an attrition of less than 1%. The reason, says Mr. VC Agrawal, Director, Human Resources, is that IndianOil offers the best job content in the industry, though not the best pay. <b>Industry: Oil and gas Employees: 31,000</b> Mr. Agrawal discovered the importance of job content in a 2007 employee engagement survey done by International Management Institute, Gurgaon. To provide rich work content, a company needs to have two things: a strong business growth strategy, and transparent and well-defined HR policies. "Just having one will not suffice, even if the company promises the best compensation," he says. IndianOil is the only PSU in this list, but it doesn't act like one. It has revamped online appraisal system, and 40% of salaries and promotions are linked to performance. It has regular leadership courses for its deputy general managers and above, and project management courses in Indian Institute of Petroleum Management, Gurgaon, and other centres.