Shaw Wallace begins 2nd round of pay revamp

Shaw Wallace has embarked on the second round of revamping compensatory packages for its marketing and sales executives to match the industry standards.

A blueprint designed by Mercer Consulting is looking at a 100 per cent increase in the compensation structure for top performers.

This is the second year in running that the compensation structure is being revised. The performance bonus for the year 2003-04 has almost been trebled compared with that of the previous year.

"The changes incorporated over the last one year including the changes in compensation structure have led to increased productivity and motivation for the people. This is clearly reflected in an all-time high performance in 2003-04. To meet the vision 3x3 objectives of double revenues and triple profits in three years, performance contracts and clearer roadmaps have been drawn up for executives," said Komal C Wazir, executive director, Shaw Wallace.

Accordingly, process maps for all job clusters have been created and role analysis of each function has been carried out. The collated data has been evaluated, scored and mapped onto a responsibility matrix to arrive at position scores for the various positions in the organisation.

The study has also explored possible overlaps and gaps in responsibilities, efficiencies and inefficiencies of the present structure and to look at broad banding.

Development of talent management strategies such as attracting, developing, measuring and retaining talent, role clarification for all benchmarked positions, designing and implementing a 'performance pay system' for developing performance-based culture are some of the key deliverables of the exercise undertaken by Mercer Consulting.

The objective behind the exercise was also to benchmark HR policies against the best in the marketplace and position Shaw Wallace as a preferred employer.

"People care is at the top of mind of the current management. We would like to continue with the policy of creating value for the company through creating value for all those who have a stake in the company," added Wazir.

In the financial year gone by, Shaw Wallace achieved a revenue growth of 20 per cent and a profit before tax that is 2.5 times higher than the previous year.

Shaw Wallace brands have turned in one of the best performances ever during the year 2003-04. Royal Challenge became the first premium whisky brand in India to clock sales of one million cases.