Indofil Industries: Fostering trust, transparency and togetherness
These principles, Indofil Industries says, have helped it foster harmony among employees, which in turn has helped in prioritizing people above everything else.
It’s the three Ts: transparency, togetherness and trust, that Indofil Industries Ltd thrives on. A chemicals company promoted by the KK Modi Group, Indofil Industries believes that encouraging and fostering a work environment that inspires employees to achieve their highest potential can reap enormous benefits.
No wonder then that the company has found a place in the top 10 list of best workplaces in manufacturing by Great Place to Work Institute.
The five-decade-old Indofil Industries believes that transparency builds confidence, which is critical for long-term success; togetherness ensures team work and lowers chances of committing errors, and trust ensures that everyone is committed towards a common goal. These principles, the firm says, have helped it foster harmony among employees, which in turn has helped in developing a culture that prioritizes people above everything else.
“We execute current assessment versus industry, best-in -class assessment, and also collect internal and external inputs to establish best practices. Through pulse/diagnostic surveys, we try to capture employee expectations and reinvent, design and implement best-in-class practices,” said Avinash Deolekar, executive vice-president (people strategy).
With operations in India and abroad, Indofil is an important contender in the agricultural chemicals, and specialty and performance chemicals segment.
The firm ended the last fiscal year with a net profit of Rs163.29 crore on total income of Rs1,644.3 crore. In the next two years, it aims to achieve a valuation of a billion dollars.
“We have achieved 23% increase in gross sales as compared to last year in the first seven months of the financial year. Adding to this, our stellar performance in last two years has helped improve our rating to “Crisil A”, says R.K. Malhotra, group chief executive, on the company’s website.
To motivate its employees, the company holds joint practice sessions, individual development plans and personalized trainings and also has a higher education assistance programme, and distinctive policies like wellness and well-being among others.
On the manufacturing front, the company says, its focus has been on maintaining the highest EHS (environment, health and safety) standards and improving process efficiencies. It has also implemented online EHS management system for incident reporting and investigation, ensuring legal compliances and monitoring the health of employees.
“People-friendly culture, joint practice sessions, cross- functional collaboration, engagement of an employee - supporting employee in family/personal crisis and willingness to adapt to change is the backbone of our workplace,” adds Deolekar.
Editor's Picks »
- Q2 results no blockbuster for Inox Leisure as margins disappoint
- NBFC scare shaves 8.5% of IndusInd Bank share price
- Q2 results portent a dull Diwali for paint stocks investors
- Reliance Jio seen overtaking Vodafone Idea, Airtel to become India’s largest telecom firm by 2018-end
- ArcelorMittal’s Essar Steel acquisition: Who wins, who loses