At HCL Technologies, the intranet is a key component of its employee retention program (see Employees first` is the new mantra!, Business Standard).
“DK Srivastava, senior vice-president, corporate human resources, at IT services company HCL Technologies, has reason to smile. The firm’s ’employee first’ initiative has cut attrition in its infrastructure services division to 16.8 per cent in December 2006, from 23.6 per cent a year ago.
Headcount rose from 28,182 in December 2005 to 38,317 in December 2006, and Srivastava expects it to hit the 100,000 mark by 2010. It’s these numbers that led the management to rethink its HR strategies.
HCL embarked on a five-year transformation journey in July 2005 with the aim of achieving market dominance in its business segments.
The ’employee first’ initiative is based on the premise that it’s the individual who helps organisations deliver value to customers and must therefore be at the forefront of new strategies that aim at higher growth.
The payoff has been quick: Revenues shot up to Rs 1,465.1 crore in the quarter ending December 31, 2006 , from Rs 1,054.2 crore in the year-ago quarter— a 39 per cent year-on-year growth.
Srivastava attributes this to increased efficiency triggered by the five-pronged HR programme— Support, Knowledge, Empowerment, Transformation and Recognition— which employees can access through the company intranet.”
IBM knows all too well the value of the intranet on employee retention. At IBM, the human resource services via the intranet (loosely called e-HR) is saving the company more than $500 million a year – $284 million in e-learning alone. But the benefits are far higher than just mere dollars. Since improving the intranet and adding e-HR services, employee satisfaction with human resources has risen from 40% to 90%. The financial impact of such an increase must be immeasurable.
As for the intranet as a whole, IBM has some other very important non-financial metrics:
- Usage and value: 80% of IBM employees access the intranet daily
- Workforce enablement: 68% view the intranet as crucial to their jobs
- Employee retention: 52% are more satisfied to be an IBM employee because of information obtained on w3
(source: Liam Cleaver, IBM, From Intranet to the On Demand Workplace)
A successful intranet is good HR. As IBM and HCL can attest, a successful intranet can also show you the money.
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