Proactive HR Strategy of a Corporation Synopsis of Future Group

HR Policies:
Human resource policies are systems of codified decisions, established by an organization, to support administrative personnel functions, performance management, employee relations and resource planning. Each company has a different set of circumstances, and so develops an individual set of human resource policies. HR policies provide an organization with a mechanism to manage risk by staying up to date with current trends in employment standards and legislation. The policies must be framed in a manner that the companies vision & the human resource helping the company to achieve it or work towards it are at all levels benefited and at the same time not deviated from their main objective. HR policies allow an organization to be clear with employees on: The nature of the organization What they should expect from the organization What the organization expects of them How policies and procedures work What is acceptable and unacceptable behaviour The consequences of unacceptable behaviour

In this context, let us look at the Proactive HR strategy of Future Group.

Synopsis of Future Group

Future Group is an Indian privately held corporation that runs chains of large discount department stores and warehouse stores. Every day, Future Group brings multiple products, opportunities and services to millions of customers in India. Through over 15 million square feet of retail space, it serve customers in 85 cities and 60 rural locations across the country. Future Group employs 35,000 people directly from every section of our society. It sources their supplies from enterprises across the country, creating fresh employment, impacting livelihoods, empowering local communities and fostering mutual growth. Corporation Future Group Type Private Conglomerate Founder Mr. Kishore Biyani (MD & CEO) Headquarters Jogeshwari (East), Mumbai Established 1994 Gross Turnover US$ 2 Billion (FY 2010-11) Employees 35000 Approx Industry Retailing Chain Customer Base 220 Million Customers Daily across India Retail Chain Location 85 Cities & 60 rural locations across India Key Brands Big Bazaar (Hypermarket chain), Pantaloons (Fashion store), Food Bazaar (Supermarket chain) and E-zone (Electronics superstore).

HR Policies & Strategies:

HR Philosophy: The Futures Group helps growth-orientated businesses build their leadership capacity from grass roots to CEO enhancing decision-making, capacity to influence, effective partnerships and organisational motivation. When leaders are highly effective they develop high-performing teams and attract and retain high-quality staff all critical success factors. The Futures Group offers leadership appraisal, review and development services, and practical customised training, career development

and problem-solving strategies to maximise the advantages of effective leadership throughout an organisation.