405-068-1

ICMR Center for Management Research

Human Resource Management Practices at the National

Thermal Power Corporation (NTPC) in India
This case was written by Chaturvedi R, under the direction of Dutta S, ICMR Center for
Management Research (ICMR). It was compiled from published sources, and is intended to be
used as a basis for class discussion rather than to illustrate either effective or ineffective
handling of a management situation.

© 2005, ICMR Center for Management Research

ICMR, Plot # 49, Nagarjuna Hills, Hyderabad 500 082, India

Email: info@icmrindia.org.
www.icmrindia.org

Distributed by ecch, UK and USA North America Rest of the world

ecch the case for learning
www.ecch.com
All rights reserved
Printed in UK and USA
t +1 781 239 5884 t +44 (0)1234 750903
f +1 781 239 5885
e ecchusa@ecch.com
f +44 (0)1234 751125
e ecch@ecch.com
 405-068-1

Human Resource Management Practices at the National

Thermal Power Corporation (NTPC) in India
“It’s a power giant with the heart of a Public Sector Unit, but the mind of a private enterprise. A
big reason why not even one in a hundred of its employees ever thinks of leaving NTPC.”
- Business Today, September 14, 2003.
“The best employers (included NTPC) inspire and maintain a passion for outstanding
achievement. They not only pose sharp focus and clarity but also share it simply and effectively
with the employees.” 1
- Mick Bennett, Managing Director, Asia-Pacific, Hewitt Associates, in 2004.
“The difference between success and failure is people: it is they who make the difference.
Whatever your plan, whatever your strategy and whatever your vision, you can achieve it only
when everybody shares it.” 2
- C. P. Jain, Chairman and Managing Director, NTPC, in 2005.

A GREAT PLACE TO WORK!

National Thermal Power Corporation Limited (NTPC), a public sector power major, bagged top
positions in several workplace surveys conducted in 2004. It figured among the top ten ‘Best
Companies to Work for in India’ survey conducted by Mercer HR Consulting 3 . It was also ranked
the third best employer for the second consecutive year in the ‘Best Employers in India’ survey by
Hewitt Associates 4 . In addition, it was also adjudged the third great place to work by Grow Talent
Company 5 in the ‘Great Places to Work’ Study, ahead of companies like Johnson and Johnson,
Cadbury, Philips Software, etc. (Refer Exhibit I for the list of company rankings). This ranking
was based on an international benchmark, the Great Place to Work Trust Index, used by Fortune
magazine in preparing its ‘100 best companies to work for’ list. The above surveys commended
the company’s leadership commitment to employees; the alignment of its HR policies with
corporate strategy; its learning and development efforts; its value-driven culture and its ability to
create work-life balance for its employees. Besides these, the company won several other awards
for its HR practices (Refer Exhibit II for awards won by NTPC for its HR practices).

1
“TCS, Bharti, NTPC Best Employers,” December 10, 2004, www.theeconomictimes.com.
2
Sreejiraj Eluvangal “Winning Lessons,” Business Standard (Supplement), November 18, 2005.
3
Mercer HR Consulting is a global HR firm offering human resources management software and
consulting services. It conducted the ‘Best companies to work for in India’ survey, 2004, in association
with Business Today magazine.
4
Hewitt Associates is a global HR outsourcing and consulting firm delivering a complete range of human
capital management services. It conducted the ‘Best Employers in India’ survey that covered 220 major
companies operating in India for 2004 in association with CNBC TV18.
5
Grow Talent Company Limited, conducted ‘The Great Place to Work Study’ in partnership with The
Great Place to Work Institute, Inc. of the US, and Businessworld magazine. The survey for 2004 covered
130 organizations in India.

2
 405-068-1

NTPC’s website glowed with a picture of its happy employees and a tag line that read “Generating
Smiles Beyond Megawatts.” The awards did not come as a surprise to its 20,971 employees 6 ,
whose low attrition rate of 0.17% (for 2004) also testified to their fondness and attachment to the
company (Refer Exhibit III for details of trends in attrition).
NTPC had bagged top positions in these surveys over several multinational companies operating in
India. Analysts wondered what made NTPC so special that it could attract talent in an environment
of high paying software companies and other multinational players operating in India.
NTPC was not only India’s largest thermal power generating company but was also the sixth
largest thermal generator 7 globally, and the second most efficient in capacity utilization in the
world in terms of Terrawatt hours (TWh). 8 According to analysts, NTPC changed the oft-held
perception that as a public enterprise it would have a laid-back organizational culture. NTPC had a
high focus on training and development and merit was an important consideration for career
growth. Its achievement was particularly noteworthy as it had successfully developed a
challenging work culture even though it was 90% government-owned.

BACKGROUND NOTE

NTPC was set up in the year 1975, as a thermal power generating company, with a view to
augmenting power generated by the State Electricity Boards (SEBs) 9 in order to bridge the wide
gap between the demand and supply of power in the country. At this time, the total ownership of
NTPC rested with the Government of India (GoI). In the 1980s, the company established thermal
power stations across the country. In 1987-88, NTPC was among the first public sector enterprises
to start a Memorandum of Understanding (MOU) system 10 with the GoI.
In the year 1991, the Indian economy witnessed two major trends, that of liberalization and
privatization. The GoI encouraged the entry of private players as power utilities. In 1991, NTPC
faced a crisis with the arrears of SEB dues increasing continuously and the World Bank 11
refusing to lend further funds to the company. The company experienced a severe liquidity crisis
and employee morale had hit rock bottom. NTPC faced up to the challenge of surviving these
difficult times and went all out to improve its performance. For instance, when one of its
customers, the Uttar Pradesh State Electricity Board (UPSEB) was not able to repay its bills, the
company acquired the Unchahar 12 project from UPSEB to reduce its receivables. It also
introduced incentive schemes for faster bill payments. These measures were successful in
improving the receivables position of the company and the World Bank revived its financial
assistance to the company in 1992.

6
As of March 31, 2005 the employee strength increased to 23,500.
7
As per a study conducted by A. T. Kearney, a global consulting firm, in 2002.
8
As per a study (based on 1998 data) by Datamonitor, a UK based research and consulting agency.
9
Each state in India has a State Electricity Board that caters to its power generation needs.
10
The MOU system referred to here, is a freely negotiated document between the government as the owner
and a specific PSU. It is supposed to clearly specify the intentions, obligations and mutual responsibilities
of both parties. The system attempts to move the management of PSUs from management by controls and
procedures to management by results and objectives.
11
The “World Bank” is the name that has come to be used for the International Bank for Reconstruction
and Development (IBRD) and the International Development Association (IDA). Together these
organizations provide low-interest or no-interest loans, and grants to developing countries. NTPC was the
single largest company in India to receive concessional loans (around $4 billion of funding from 1975 till
2005) from the World Bank.
12
Unchahar is a small place in the state of Uttar Pradesh.

3
 405-068-1

In 1992, NTPC asked consultants PricewaterhouseCoopers 13 to undertake scenario planning for

the company. They suggested that NTPC could boost its growth through planned capacity
expansions. In 1994, NTPC set up the Centre for Power Efficiency and Environmental Protection
(CENPEEP) with the assistance of the US Agency for International Development (USAID) and
with the active involvement of the US Department of Energy. The aim was to achieve improved
efficiency of coal-based thermal power plants through new technologies and practices. In 1995,
NTPC acquired a 35-year-old plant located at Talcher, Orissa, from the Orissa State Electricity
Board (OSEB). Although the plant was plagued by technical problems and labor unrest NTPC
undertook focused efforts to improve its performance.
In 1996, the company drew up a vision statement and chalked out an ambitious corporate plan for
the period 1997-2012 (Refer Exhibit IV for a summary of the corporate plan). It also defined a set
of core values for the organization (Refer Exhibit V for vision statement and core values). In July
1997, the GoI conferred the status of a ‘Navratna’ 14 on NTPC. This status was accorded to public
sector companies that had the potential to become global players. The ‘Navratna’ status gave
NTPC greater autonomy for operational, strategic, financial and other decision making. Hereafter,
the company could make its investment and borrowing decisions without consulting the GoI. The
GoI’s role was limited to the setting up of performance targets and overall co-ordination through
the MOU that it signed with the company on an annual basis.
The company pursued its objectives aggressively and by the year 2000, it had achieved a
noteworthy improvement in performance. NTPC increased its power generation from 11,000 MW
in 1991-92 to 19,435 MW in the year 1999-2000. The per employee generation, turnover and
productivity also improved substantially (Refer Exhibit VI). It was also able to substantially
improve the performance of its earlier plant acquisitions at Talcher and Unchahar (Refer Exhibit
VII for performance indicators). The company expanded its capacity and started a hydroelectricity
project in Himachal Pradesh. It also diversified into Liquefied Natural Gas (LNG) in Gujarat. In
the light of the improved performance, the company revised its vision statement in the year 2000
to have a more focused corporate plan. The company also modified its core values to make them
more precise and identifiable through a set of five values that became its ‘culture code’ (Refer
Exhibit VIII for a brief of modified vision statement, and core values).
In July 2003, the company launched a complete organizational transformation exercise named
“Project DISHA.”A.T.Kearney was hired to make recommendations that would help transform
NTPC into a world class power utility (Refer Exhibit IX for details of the project). In October
2004, NTPC made an initial public offer of 432.915 million equity shares. The issue was
oversubscribed by 13.14 times. After this, GoI’s shareholding in NTPC was reduced to 89.5% and
the remaining 10.5% shares were held by foreign institutional investors, domestic banks, the public
and others. The same year, NTPC redrafted its corporate plan for the period 2002-2017 in light of
the new challenges in the sector. The company also chalked out a set of objectives in the areas of
business portfolio growth, customer focus, making the corporation agile, performance leadership,
human resources development, financial soundness, sustainable power development and research
& development (Refer Exhibit X for details of corporate objectives).

13
PricewaterhouseCoopers is a major international accounting and consulting firm.
14
Eleven public sector companies were identified as Navratnas (meaning nine jewels) in 1997 by the GoI
and given enhanced powers. These enterprises included Bharat Heavy Electricals Ltd. (BHEL), Bharat
Petroleum Corporation Ltd. (BPCL), Gas Authority of India Limited (GAIL), Hindustan Petroleum
Corporation Ltd.HPCL), Indian Oil Corporation Ltd. (IOC), Indian Petrochemicals Corporation Ltd.
(IPCL), Mahanagar Telephone Nigam Ltd. (MTNL), Oil and Natural Gas Corporation Ltd.(ONGC),
Steel Authority of India Ltd. (SAIL) & Videsh Sanchar Nigam Ltd. (VSNL) and NTPC. These
companies were granted autonomy in the areas of incurring capital expenditure, entering into joint
ventures, effecting organizational restructuring, creation and winding up of posts below Board level,
raising capital from the domestic and international markets and establishing financial joint ventures
subject to equity investments with specified limits.

4
 405-068-1

As on March 31, 2005, the installed power generation capacity of NTPC was 23,749 MW, around
19% of India’s installed capacity. The company’s plants also recorded the highest ever plant load
factor 15 (PLF) of 87.5%, in 2005. The company owned and operated 13 coal based, 7 gas/liquid
fuel based and 3 joint venture generation units generating a total of 159 billion units of electricity.
The company had four subsidiary companies - NTPC Vidyut Vyapar Nigam Limited, NTPC
Hydro Limited, NTPC Electric Supply Company Limited and Pipavav Power Development Co.
Ltd. It had energy sales of Rs. 205.1 billion and net profit of Rs. 46.2 billion for the year 2004-05.
HR PRACTICES AT NTPC
NTPC’s human resource policy has been closely aligned to its corporate vision of becoming one of
the world’s best power utilities. Its HR vision was formulated with the aim of “enabling the
employees to become a family of committed world class professionals thus making the company a
learning organization.” 16 The company identified competency, commitment, culture and system as
the four pillars of its human resource strategy.
In relation to its human resource management, the company’s corporate plan stated that it aimed to
“create a culture of team work, empowerment and responsibility to convert knowledge into
productive action with speed, creativity and flexibility” 17 and thereby gain a knowledge-based
competitive edge.
RECRUITMENT PLANNING / HUMAN RESOURCE PLANNING
Human resource planning at NTPC was undertaken in accordance with organizational objectives
and in line with its organizational culture. The company had two executive positions for every
three non-executive positions. Most of the jobs at the company required thorough technical skills.
Therefore, NTPC gave preference to recruitment of engineers. (Refer Exhibit XI for a brief of the
recruitment ad). Around 80% of NTPC’s executives were engineers. The selection process
involved three stages comprising a written test, group discussion and interview.
Since the company followed the lifetime employment policy as a PSU, it recruited mainly at the
entry level for the posts of around 400 Executive Trainees every year. Lateral recruitments
especially at the senior levels were very few. The company did not usually hire from premier
institutes like Indian Institute of Technology (IIT) 18 and Indian Institute of Management (IIM) 19
but preferred to take candidates from Regional Engineering Colleges (RECs) 20 during campus
recruitments. This allowed the company the freedom to mold these engineers to fit its own culture.
It could also check any possible mismatch between the job and an individual’s expectations.
TRAINING AND DEVELOPMENT
The Training and development (T&D) function was of critical significance at NTPC. NTPC’s
training budget was the highest in the industry. The company had a detailed training plan in place,
and an average of 56 hours/year was allotted as the training time per employee (Refer Table I for
more details). The company established a training institute called the Power Management Institute
(PMI). The institute moved to an independent campus at Noida, New Delhi as a full fledged
Training and Development Centre in 1994. PMI’s mission was to work towards “wider adoption of
innovative and relevant management concepts in the power sector”. The institute’s activities

15
PLF indicates the capacity utilization of a power plant. More specifically it is the ratio between average
load and peak load and can be expressed as Load factor = Average load / Peak load.
16
www.ntpc.co.in
17
“The NTPC Success Story: Ideas validated in Action,” http://darpg.nic.in/content/upload/Event114.htm
18
IITs were established by the GoI to provide science and technology education. There are seven IITs in India
located in the following cities - Kharagpur, Mumbai, Chennai, Kanpur, New Delhi, Guwahati and Roorkee.
19
IIMs were established by the GoI and are the premier management schools of India, located in the cities
of Ahmedabad, Bangalore, Indore, Kolkata, Kozhikode and Lucknow. They award post-graduate
diplomas in Management with various specializations.
20
RECs were established by the GoI in all the major states (seventeen), as premier schools of engineering
and technology education in India. They offer graduate and post graduate courses in areas of
engineering, management and technology.

5
 405-068-1

included conducting management development programs, as well as research and consultancy

(Refer Exhibit XII for activities of PMI).
Table I
T&D at NTPC
Particulars Figures (2004)
Training budget (budgeted) Rs. 520 million
Training budget (actual) Rs. 480 million
Budget Utilization (Percentage) 92
Training Cost as % of revenue 0.19
Training man-hours (budgeted) 12,92,480
Training man-hours (actual) 12,92,480
Source: Business Today, November 21, 2004.
The programs at the center were open to NTPC managers (middle and senior levels) as well as to
managers from state electricity boards and from multinational companies. They were open to
managers in the power sector as well as those not in the power sector, and even took managers
from other countries. The center also undertook training courses supported by foreign agencies like
USAID, Overseas Development Agency (ODA) UK, World Bank and E7 group 21 , and ones
supported by Indian institutions such as Administrative Staff College of India (ASCI) 22 ,
Hyderabad and IIM, Ahmedabad. Due to the high quality of PMI training, many companies from
countries like Korea, Tunisia, etc. came to India to attend the training programs.
The institute had a tie-up with IIT, Delhi for a Master’s in Technology (M.Tech) in power
generation technology. This course was also open to employees from Independent Power
Producers (IPPs) 23 and SEBs.
NTPC wanted its employees to better themselves continuously. The company identified change
management, quality management and continuous performance improvement as its focus areas for
training. The PMI campus had a well-equipped auditorium, classrooms and residential and
recreational facilities for trainees. The learning center at PMI had a good library of books as well
as international databases and enabled online library access. Computers on the campus were
interconnected through a local area network. Around 318 training programs were conducted at the
institute and they covered approximately 7400 participants (both internal and external) in 2003-04.
Besides several management development programs, the company also conducted leadership
development programs for its executive directors and general managers. These programs
included business simulations and experiential exercises and were conducted in association
with NIS Sparta 24 .

21
The E-7 Group represented a group of eight environmentally conscious and active power players. The
utilities included Electricite’ de’ France, ENEL SA of Italy, Hydro Quebec and Ontario Hydro from
Canada, Kansai Electric Power Company and Tokyo Electric Power Company of Japan, South California
Edison Company, USA and RWE AG from Germany.
22
Set up in 1965, ASCI is a pioneer in post-experience management education in the country and conducts
numerous management development programs. It advises various national and international agencies
through research, management training and consultancy.
23
IPPs are non-utility power producers that develop and operate power generation projects. Utility power
companies (utilities) are responsible for generating, transmitting, and distributing power to consumers
within their service territory. Non-utility power producers are independent generators that sell the power
they generate to utilities for distribution to consumers.
24
NIS Sparta is part of the Reliance Group of Companies. It offers a range of performance enhancement
training and learning solutions aimed at increasing an organization’s productivity and performance.

6
 405-068-1

Apart from PMI, which focused on management development, the company also ran technical
training centers at all its 20 plants. They were called Employee Development Centers (EDCs) and
they imparted specialized technical training to employees based on systematic identification of
their competencies and training needs. The company had also pioneered the use of simulation
training in the country in 1984. The company has simulation training institutes at Korba in
Chattisgarh, and at Kawas in Gujarat. These institutes enable employees to learn the operations of
a real power plant without any loss or damage to the company. The simulation training also raised
the level of proficiency and equipped employees to handle emergencies effectively.

ORGANIZATION CULTURE

NTPC had a unique organization culture. NTPC’s founder Chairman, D.V. Kapur (Kapur),
made sure that only the best managers joined the company. Its initial cadre of managers thus
came from companies like Bharat Heavy Electrical Limited (BHEL), Steel Authority of India
Ltd. (SAIL), etc. and had proven project management competencies. These managers moved
to NTPC because they looked forward to the greater freedom and challenge that the newly
established NTPC offered. These employees built up a culture which combined a high degree
of independence with individual accountability at NTPC, and designed and set in motion,
processes and systems for these ends.
All projects at NTPC had strict deadlines with numerous measures to assess project performance.
This bred a high degree of commitment and an emphasis on performance and pride in NTPC.
NTPC linked its promotions to performance rather than years of service right from the very
beginning. NTPC created a performance-driven work culture, full of challenge for its employees,
through the use of benchmarking. The company’s efforts towards corporate planning began at the
top with general managers of all power plants gathering to discuss their targets by benchmarking
with the best performing plants within the company, and with other plants within and outside
India. Targets were then set, based on these benchmarks, and were further broken down to provide
individual targets for employees. An example of how employees at NTPC continuously raised the
benchmarks was evident when engineers overhauled the 210-MW Unit at Dadri Coal Unit in Uttar
Pradesh in a record 17 days in 2004, down from 19 days in 2003 and 20 days in 2002. The
company had adopted the mindset of viewing problems as opportunities and this culture motivated
the employees to perform.
At the same time, the company believed in the “People First” philosophy. C P Jain, Chairman
and Managing Director, NTPC said, “What we try to do is to create an environment where our
employees feel happy to work, and where there is a sense of belonging and commitment.” 25
NTPC provided generous benefits like reimbursement for children’s education expenses,
scholarships, a pension scheme and other superannuation benefits for its employees (Refer
Table II for details). Other welfare policies included a policy on sexual harassment, paternity
leave, comprehensive health care to employees and their families in addition to subsidized
canteen and transportation facilities. The company had around 17 in-house project hospitals
and had 58 empanelled hospitals where employees could go in for medical treatment and get
their medical expenses reimbursed. Employees at NTPC took a note when the company paid a
whopping Rs. 15 million for the medical bills of an employee when he was in a state of coma
for four months. NTPC was also particularly conscientious about the safety of its employees.
Its safety measures included the delineation of a safety policy, preparation of detailed safety
manuals, disaster management plans, mock drills, regular inspections/ safety audits, safety
training for employees as well as contractual staff, provision of personal protective and fire
fighting equipment, etc.

25
R. Sridharan, “Positive Charge,” Business Today, September 14, 2003.

7
 405-068-1

Table II
Social Security Benefits at NTPC
• Employees Provident Fund
• Gratuity
• Employees Voluntary Benevolent Fund
• Self Contributory Pension Scheme
• Post Retirement Health scheme
Source: Dinesh Agrawal, Corporate Social Responsibility Practices in NTPC, www.ntpc.co.in, July 27, 2004.
The residential townships that NTPC built at its plant locations were fully equipped with schools,
hospitals and clubs. These townships were well-planned and serene and provided employees with
all the conveniences they needed. As one fresh executive trainee who had chosen NTPC over a
renowned IT company remarked, “In the private sector you don’t have time for yourself. But here
you have a life and that too with benefits like well protected townships.” 26 Employees valued the
fact that company initiatives like these gave them a better overall life rather than merely adding
figures to the paycheck. Justifying these policies, Kapur said, “It is important that employees know
they will be looked after. That is the starting point for high performance.” 27
At NTPC there was a peer pressure to excel and this also contributed to performance and efficiency.
The company ensured that it recruited competitive people. As one of its employees remarked, “In
NTPC if a peer is learning anything new, you will start doing that too, otherwise, there is a fear that
they will get ahead and get that promotion.”28 He added that the employees who did not get promoted
viewed it as a punishment and worked even harder to get it next year. The culture was such that if an
employee missed three to four promotions he felt cut out from the company’s mainstream. Below par
performers were sent for remedial training and if performance still didn’t improve, they were moved to
less important roles. As a last resort, if there was no hope of improvement, the company asked the
employee to opt for its Voluntary Retirement Scheme (VRS).
Till the early 1990s, NTPC had operated through a system of Confidential Reports (CRs) for
performance appraisal. A major revamp of the company’s HR strategy was undertaken around this
time and the company modified its appraisal system to adopt a 360 degree feedback system based
on Key Result Areas (KRAs) to bring in more transparency. By 2004, NTPC had revised its
performance appraisal system and introduced a new rewards system in line with the
recommendations of A. T. Kearney to strengthen its high performance culture. It had also initiated
the implementation of an HR Score Card, based on the Balanced Scorecard principle, with the help
of Hewitt Associates.
NTPC believed that “participation and participatory culture make employees own their work and
result in tremendous synergy.” The company published a quarterly in-house journal called
“Horizon” to serve as a platform for knowledge exchange. The company also organized NTPC
Open Competition for Executive Talent (NOCET) annually, which involved presentations on a
topical theme. Other employee involvement initiatives included organization-wide Bipartite
Forums (Refer Table III for details of the forums at various levels), Professional Circles, Quality
Circles, Suggestion Scheme, Safety Circles, etc. Professional Circles enabled knowledge sharing
between executive employees. Quality Circles were open for participation to non- executive
employees for discussing their problems and exchanging work related know-how. As of March
2004, there were around 900 Quality Circles in the company covering about 8,000 employees as
members. Suggestion Schemes called for suggestions from employees on the company’s
equipment and systems, and rewarded good suggestions. Safety Circles suggested improvements
in safety measures that could be subsequently implemented by the company.

26
Sahad P. V., “The Lure of the Public Sector,” Business Today, November 21, 2004.
27
M. Rajshekhar, “Powered by the People,” Businessworld, December 6, 2004.
28
M. Rajshekhar, “Powered by the People,” Businessworld, December 6, 2004.

8
 405-068-1

Table III
Employee Participation at NTPC

Organizational Level • Employee Participation Forums

Project / Station Level • Apex Plant Level and Shop Level Council
• Other Bipartite forums
Regional Level • Quarterly meetings with unions and associations
Corporate Level • National Bipartite Committee ( NBC) for workmen
• NTPC Joint Performance Committee (NJPC) for workmen
• Supervisory Employees’ Joint Committee (SEJC)
• NTPC Executives Federation of India (NEFI)
Source: http://www.shilpabichitra.com/Shilpa2004/anni_1_047.html

THE POWER OF HR: THE PAYOFF

NTPC successfully built a culture that combined freedom with responsibility. This showed in the
scores the company got in various workplace surveys (Refer Exhibit XIII for award parameters)
and was also reflected in the overall performance of the company (Refer Exhibit XIV for key
financial indicators).
NTPC contributed to raising the efficiency levels in the Indian power industry as a whole. The
company’s PLF of 87.5%, was well above the national average of 73%. NTPC was ranked the
second most efficient power generator in the world. Credit rating agencies recognized the
company's excellent financials, with most of its instruments enjoying high ratings from reputed
agencies like Crisil, Standards and Poor’s, etc. The World Bank applauded the company for its
impressive financial management record. The Audit reports from the World Bank stated, “NTPC
has demonstrated that Government-owned power utilities can be operated at efficiency levels
comparable to those of privately owned utilities in India and well-run utilities outside India.
NTPC’s record in plant construction, cost containment and operating efficiency has been
exceptional, while as an institution it has broken new ground in organization and management,
successfully navigated the transition from constructions to operating company and generally coped
quite well with the problems of rapid expansion.” 29
NTPC was successful in increasing its employee productivity over the years (Refer Table IV for
trends in employee productivity). The company’s talent pool of employees was also recognized as
one of the best in the industry with many of its top managers winning awards for individual
contributions in their fields of expertise. For instance, C.P.Jain, the chairman and managing
director, was awarded the “SCOPE Award For Excellence and Outstanding Contribution to the
Public Sector Management – Individual Category” 30 for 2003-04. In addition, P.Narasimharamulu,
Director (Finance) was awarded “India CFO Award 2004” instituted by International Market
Assessment, 31 in recognition of his exemplary record in financial management.

29
Company profile, www.ntpc.co.in
30
The award is one of the most prestigious and outstanding recognition in the Public Sector, instituted by
the Standing Committee of Public Enterprises (SCOPE), to encourage outstanding individual
contributions for their hard work and leadership abilities.
31
International Market Assessment, India, is an associate of Economist Corporate Network - a part of The
Economist Newspaper Group, UK. The firm delivers business intelligence and research solutions and has
three product lines - Peer Group Forums, Research and Advisory Services, (include Corporate
Knowledge Programs) and Roundtables and Business Meetings.

9
 405-068-1

Table IV
Trends in Emplyoee Productivity at NTPC
Year Employee Productivity *
1993-94 4.06
1994-95 3.98
1995-96 4.23
1996-97 4.56
1997-98 5.13
1998-99 5.26
1999-00 5.58
2000-01 6.11
2001-02 6.26
2002-03 6.76
2003-04 7.10
* Figures are generation per employee in million units
Source: R. Sridharan, “Positive Charge”, Business Today, September 14, 2003 and other sources.

THE FUTURE

Analysts were, however, apprehensive of whether the company would be able to maintain the
same kind of performance in the years ahead. They pointed out that NTPC had enjoyed a near-
monopoly till the 1990s but with increasing competition from private sector players like Reliance
Energy Ltd. 32 and Tata Power Company Ltd., 33 it could become tough for the company to keep up
its record in future. It had become all the more important for the company to attract the best talent
to be able to realize its ambitions of becoming a complete energy company spanning thermal,
hydel, nuclear and bio-power, generating 40,000 MW of power by 2012 and entering the Fortune
500 listing by 2017.
They added that with areas like IT, banking, pharmaceuticals and biotechnology etc. in the private
sector emerging as preferred sectors for employment, the company would have to gear up to refine
its recruiting and retaining strategies. One of NTPC’s senior manager agreed, “I would not
recommend NTPC for young, aggressive fast trackers. They might end up getting disillusioned in
2-3 years time.” 34

32
Reliance Energy Ltd. is a leading integrated power utility company in the private sector with a generation
capacity of 940 MW. It has a presence in generation, transmission and distribution of power in
Maharashtra, Goa and Andhra Pradesh. For the year 2005, it recorded sales of Rs. 41,307 million and
profits of Rs. 5,203 million. The company plans to increase its generation capacity to 9,000 MW by 2012.
33
Tata Power Company Ltd. is the largest private player in the power sector in India, with a generation
capacity of 2,203 MW, around 18% of the total power generation capacity of the private sector in India.
For the year 2005, it recorded sales of Rs. 50,148 million and profits of Rs. 5,024 million. The company
has a presence across the power business system -generation (thermal, hydro, solar and wind)
transmission and distribution. The company has big overseas power projects in a number of countries,
including the UAE, Malaysia, Saudi Arabia, Kuwait and Algeria. It has also undertaken projects in power
plant / utility operations and management in Saudi Arabia, Liberia, Iran, Sierra Leone and Algeria.
34
Sahad P. V., “The Lure of the Public Sector,” Business Today, November 21, 2004.

10
 405-068-1

However, others at the company pointed out that NTPC could not allow highly accelerated career
growth due to the company’s stable career policy. The company felt that job security had some
advantages. It enabled considerable stability at the company and therefore employees were stress-
free and could give their best to the company. However, the company had been taking steps to
attract people who preferred faster career growth. For instance, it was diversifying into challenging
areas like hydro power, power trading and distribution that would provide ample challenges and
opportunities for growth.
Analysts pointed out that the company would have to shake off even the least degree of
complacency that it might have had in the monopolistic scenario earlier. Though the company had
ensured that employees were continuously aware about their performance through HR tools like
quality circles, benchmarking and job rotation, it might not be enough to handle future challenges.
The company also faced the threat of poaching of its highly trained and competent employees by
competitors. Another area of concern was the skewed male-female ratio with women constituting
less than 5% of the total workforce.
Some analysts also questioned the rationale behind spending huge amounts on employee welfare.
(Refer Exhibit XV for Employee Cost Summary) For instance, as of 2004, the company had spent
Rs. 1 billion on medical infrastructure alone. However, others felt that this was one of the
important factors that drove high employee performance at the company and enabled it to be the
second most efficient power generator in the world. As C. P. Jain explained, “If you are able to
deal with your employees in the manner that you are able to create a culture of commitment where
the people feel that their well-being is totally integrated with the organization and the organization
is fair and equitable to them and they are being looked after properly, the delivery comes.” 35 As
one of its employees remarked, “NTPC has been good to us. We would like to give it back to the
company.” 36

35
Sreejiraj Eluvangal “Winning Lessons,” Business Standard (Supplement), November 18, 2005.
36
M. Rajshekhar, “Powered by the People,” Businessworld, December 6, 2004.

11
 405-068-1

Exhibit I
Great Places to Work Companies for 2004
Rank 2004 Company
1 Fedex Corporation
2 Texas Instruments
3 National Thermal Power Corp Ltd.
4 Computer Sciences Corporation India (Pvt.) Ltd.
5 Mindtree Consulting
6 Sasken Communication Technologies Limited
7 Godrej Consumer Products Ltd.
8 Intel Technologies India (Pvt.) Ltd.
9 Sapient Corporation
10 Honeywell Technology Solutions Lab
11 Johnson & Johnson
12 Wipro Spectramind
13 ST Microelectronics
14 Aviva Life Insurance Co. India Pvt. Ltd.
15 Philips Software Centre Pvt. Ltd.
16 Glaxosmithkline Consumer Healthcare
17 PSI Data Systems
18 Birla Sun Life Insurance
19 Classic Stripes Pvt. Ltd.
20 Infosys Technologies Ltd.
21 Eli Lilly & Co. (India) Pvt. Ltd.
22 Hughes Software Systems Limited
23 Monsanto India Limited
24 Anand Group
25 Cadbury India Limited
Source: www.growtalent.com

12
 405-068-1

Exhibit II
Awards Won by NTPC
Awards Won for HRM Practices
• Ranked 3rd in “The Best Employers in India” 2004 survey by Hewitt Associates and CNBC
TV18 ranking for the second consecutive year.
• Ranked 3rd in “Great Place to Work for in India” by M/s Grow Talent & Business World.
• Ranked 6th in “Best Companies to Work for in India” by M/s Mercer Human Resources
Consulting & Business Today.
• Bagged NCPEDP SHELL Helen Keller Award in the organizational category for the year 2004.
• Received “ISTD & FICCI Award for excellence in HR Practices”
• Got 2nd position in “ISTD Innovative Development HR Practices Award” by HT Power jobs.
• Received “HR Innovative Practices Award” in the organization category for the year 2004.
• NTPC, Power Management Institute (PMI) bagged The Golden Peacock National Training
Award 2004 by the Institute of Directors, New Delhi.
Source: http://www.shilpabichitra.com/Shilpa2004/anni_1_047.html

Exhibit III
Attrition at NTPC
Year Attrition Rates (%)
1993-94 1.41
1994-95 1.84
1995-96 2.31
1996-97 1.67
1997-98 1.28
1998-99 1.06
1999-00 0.67
2000-01 0.43
2001-02 0.24
2002-03 0.13
2003-04 0.17
Source: R. Sridharan, “Positive Charge,” Business Today, September 14, 2003 and other sources.

13
 405-068-1

Exhibit IV
A Summary of the Corporate Plan at NTPC: 1997-2012
• To analyze the organization structure and make it responsive to future needs;
• To analyze the systems and methods, practices and approaches in the operation,
maintenance, renovation and modernization of existing assets;
• To rationalize the strategies for growth, identifying key result areas so that maximum, fair
returns for the effort and the investments made are assured;
• To recognize and welcome the emerging competition in the power sector, viewing
competition as an opportunity to excel, taking the company’s performance to the highest
international standards.
Source: http://darpg.nic.in/content/upload/Event114.htm

Exhibit V
Vision Statement and Core Values at NTPC: 1996
Vision Statement :
“NTPC, a front runner in the Indian power sector, to be one of the largest and best power
utilities of the world and thereby contributing to India’s emergence as one of the world’s
leading economies.”
Core values:
• Respect for each other.
• Everyone a winner.
• Fairness, business ethics, customer satisfaction, vendor partnership.
• Efficiency, profitability, benefit-cost orientation.
• Systems approach and discipline.
• Innovation, creativity, entrepreneurial risk taking.
• Concern for ecology & environment.
• Internal customer service, cooperation and team playing.
• Total quality.
• Sensitivity to feedback, learning and renewal.
Source: http://darpg.nic.in/content/upload/Event114.htm

14
 405-068-1

Exhibit VI
Turnaround of NTPC (1992- 2000)
Particulars Unit 1991-92 1999-00
Installed Capacity MW 11,333 19,291
Generation MU 61,382 118,668
Plant Load Factor* (PLF) % 70.59 80.39
No. of Employees No. 21498 24015
Generation/Emp Million Units (MU) 2.86 5.58
Turnover/Emp Rs. (00,000) 17.93 77.52
Value added/Emp Rs. (00,000) 10.72 39.26
Profit/Emp Rs. (00,000) 3.85 16.00
Turnover Rs. Mn. 34,194 167,685
Net Profit Rs. Mn. 7,347 34,245
Source: http://darpg.nic.in/content/upload/Event114.htm

Exhibit VII
UNCHAHAR Project at Uttar Pradesh
Prior to
Parameter Take-over 1994-95 1995-96 1996-97 1997-98 1998-99 1999-00
(February ’92)
PLF (%) 18.02 52.31 84.21 80.19 80.1 82.2 85.3
Availability (%) 27.22 59.35 93.95 90.41 90.8 90.13 85.8
Specific Oil 21.83 2.15 1.25 1.28 1.03 1.18 1.06
Consumption
(Ml/kWh)
TALCHER Power Project at Orissa
Prior to Take-
Parameter 1995-96 1996-97 1997-98 1998-99 1999-00
over (June’95 )
PLF (%) 18.7 29.5 38.4 52.0 55.8 51.5
Availability (%) 34.8 54.4 64.3 77.0 83.1 78.3
Specific Oil 22.5 18.7 10.7 4.01 3.28 3.06
Consumption
(Ml/kWh)
Source: http://darpg.nic.in/content/upload/Event114.htm

15
 405-068-1

Exhibit VIII
Vision Statement and Core Values at NTPC: 2000
Vision Statement :

“To be one of the world’s largest and best power utilities, powering India’s growth.”

Some elements of the Mission Statement are:

• Adopt a broad-based capacity portfolio including hydropower, LNG, nuclear power and
non-conventional and eco-friendly fuels.

• Be an integrated utility by implementing strategic diversification in areas such as power

trading, distribution, transmission, coal mining, coal beneficiation, etc.

• Develop a strong portfolio of profitable businesses in overseas markets including technical

services, generation assets, etc.

• Lead fundamental and applied research for adoption of state-of-the-art technologies,

breakthrough efficiency improvements and new fuels.

• Lead developmental efforts in the Indian power sector including assisting state utility
reform, policy advocacy, etc.

Core Values:

• Customer Focus

• Organizational Pride

• Mutual Respect and Trust

• Initiative and Speed

• Total Quality
Source: http://darpg.nic.in/content/upload/Event114.htm

16
 405-068-1

Exhibit IX
Project Disha and A.T. Kearney Recommendations for NTPC
Project “DISHA” was a comprehensive organization transformation project with a view to
positioning NTPC as a globally comparable utility, aligned with global best practices in various
areas of its processes and functions. The project focused on important areas, such as core
business strategy, portfolio diversification, globalization, services business model, IT strategy,
structural initiatives, planning process, unit level processes (maintenance, procurement and
inventory), engineering initiatives, project planning and execution, performance management
system, rewards and incentives, career development system and knowledge management
system. As part of “DISHA,”the company also planned to implement an Enterprise Resource
Planning (ERP) project called “LAKSHYA.”The ERP initiative would impart a cutting edge to
the company in terms of increased efficiency, quicker response to stakeholders’ demands,
flexibility and transparency. Some important initiatives of project DISHA are given below:
• IT Strategy Planning Initiative
• Globalization Initiative
• Service Business Initiative
• Engineering Business Model
• Unit Level Process
• Project Planning & Scheduling
• Structural Initiatives
• Performance Management System
• Career Development System
• Rewards & Incentives
• Regional Commercial Initiative
• Regulatory Initiative
• Knowledge Management System
Source: http://cpsupower.nic.in/newntpc/opt2_b_mar2004.htm

17
 405-068-1

Exhibit X
Corporate Objectives
To realize the vision and mission, eight key corporate objectives have been identified. These
objectives would provide the link between the defined mission and the functional strategies.
Business Portfolio Growth
• To further consolidate NTPC’s position as the leading thermal power generation company in
India and establish a presence in hydro power segment.
• To broad base the generation mix by evaluating conventional and non-conventional sources
of energy to ensure long run competitiveness and mitigate fuel risks.
• To diversify across the power value chain in India by considering backward and forward
integration into areas such as power trading, transmission, distribution, coal mining, coal
beneficiation, etc.
• To develop a portfolio of generation assets in international markets.
• To establish a strong services brand in the domestic and international markets.
Customer Focus
• To foster a collaborative style of working with customers, growing to be a preferred brand
for supply of quality power.
• To expand the relationship with existing customers by offering a bouquet of services in
addition to supply of power e.g. trading, energy consulting, distribution consulting,
management practices.
• To expand the future customer portfolio through profitable diversification into downstream
businesses, inter alia retail distribution and direct supply.
• To ensure rapid commercial decision making, using customer specific information, with
adequate concern for the interests of the customer.
Agile Corporation
• To ensure effectiveness in business decisions and responsiveness to changes in the business
environment by
Adopting a portfolio approach to new business development.
Continuous and coordinated assessment of the business environment to identify and
respond to opportunities and threats.
• To develop a learning organization having knowledge by carrying out fundamental and
applied based competitive edge in current and future businesses.
• To effectively leverage Information Technology to ensure speedy decision making across the
organization.
Performance Leadership
• To continuously improve on project execution time and cost in order to sustain long run
competitiveness in generation.
• To operate & maintain NTPC stations at par with the best- run utilities in the world with
respect to availability, reliability, efficiency, productivity and costs.
• To effectively leverage Information Technology to drive process efficiencies.
• To aim for performance excellence in the diversification businesses.
• To embed quality in all systems and processes.
Contd…

18
 405-068-1

Contd…
Human Resource Development
• To enhance organizational performance by institutionalizing an objective and open
performance management system.
• To align individual and organizational needs and develop business leaders by implementing a
career development system.
• To enhance commitment of employees by recognizing and rewarding high performance.
• To build and sustain a learning organization of competent world-class professionals.
• To institutionalize core values and create a culture of team- building, empowerment, equity,
innovation and openness which would motivate employees and enable achievement of
strategic objectives.
Financial Soundness
• To maintain and improve the financial soundness of NTPC by prudent management of the
financial resources.
• To continuously strive to reduce the cost of capital through prudent management of deployed
funds, leveraging opportunities in domestic and international financial markets.
• To develop appropriate commercial policies and processes, which would ensure remunerative
tariffs and minimize receivables.
• To continuously strive for reduction in cost of power generation by improving operating
practices.
Sustainable Power Development
• To contribute to sustainable power development by discharging corporate social
responsibilities.
• To lead the sector in the areas of resettlement and rehabilitation and environment protection
including effective ash-utilization, peripheral development and energy conservation practices.
• To lead developmental efforts in the Indian power sector through efforts at policy advocacy,
assisting customers in reform, disseminating best practices in the operations and management
of power plants etc.
Research and Development
• To pioneer the adoption of reliable, efficient and cost-effective technologies by carrying out
fundamental and applied research in alternate fuels and technologies.
• To carry out research and development of breakthrough techniques in power plant
construction and operation that can lead to more efficient, reliable and environment friendly
operation of power plants in the country.
• To disseminate the technologies to other players in the sector and in the long run generating
revenue through proprietary technologies.
Source: www.ntpc.co.in

19
 405-068-1

Exhibit XI
NTPC’S Recruitment AD for Engineers
NTPC intends to recruit 500 Engineers for the post of Assistant Engineer in the areas of
Mechanical, Electrical, Electronics, Instrumentation and Civil. The upper age limit is 32 years
and the reservation is as follows: Unreserved – 247, OBC – 135, SC – 75, ST – 43 (6 against
backlog). 13 posts are marked for persons with disabilities. Candidates must be BE / B.Tech. /
B.Sc. Engg. / AMIE in Mechanical, Electrical, Electronics, Instrumentation or Civil from a
recognized University / institution with minimum 60% marks. A minimum of one year post
qualification experience in executive and / or supervisory cadre is needed. Interested candidates
should log on to on-line application at www.ntpc.co.in. Online registration shall open from 1000
Hrs on 04.07.05 to 1800 Hrs on 25.07.05. For more details see advertisement in Employment
News of 02-07-05 or the subsequent issue or log on to the web site.
Source: www.jharkhandjobs.com

Exhibit XII
Activities of PMI
• To create and scan new applicable knowledge, and effect its introduction in the power sector.
• To design and execute need-based programs, workshops and seminars.
• To address key sectoral issues through research and policy seminars.
• To carry out applied research in management areas.
• To undertake consultancy assignments in management and technical areas of the power sector.
Source: www.ntpc.co.in

20
 405-068-1

Exhibit XIII
Award Parameters
In the Best Employer survey-2003 by Hewitt Associates:
Overall engagement score at NTPC was found to be high at 92%. The engagement score is an
average of various parameters capturing Say, Stay and Strive behaviors in the survey. As per
Hewitt Associates, behaviors that employees exhibit when they are engaged include:
• Say: speak positively about the organization
• Stay: want strongly to continue working for the organization
• Strive: go above and beyond, and are dedicated to doing the very best job possible to
contribute to the organization's success
Employees are highly motivated with respect to their work. They feel satisfied and internally
drawn to the kind of work they indulge in on a day-to-day basis.
Other areas where high satisfaction scores were seen were as follows:
• Value to Society- 94%
• Safety - 93%
• Work Location- 90%
• Benefits- 90%
• Intrinsic Motivation- 90%
Source: www.ntpc.co.in

Great Places to Work Study 2004 Ratings (on a scale of five)

Credibility 4
Respect 4
Fairness 4
Pride 4.5
Camaraderie 4
Source: M. Rajshekhar, “Powered by the People,” Businessworld, December 6, 2004.

Best Companies to Work For 2004 Score Weightage (%) Weighted score
HR Metrics 90.00 15 13.50
HR Processes 80.00 30 24.00
Stakeholder Perception 85.88 10 8.59
Employee Perception 50.20 40 20.08
Attrition 100.00 5 5.00
Total Score - 100 71.17
Source: Sahad P. V., “The Lure of the Public Sector,” Business Today, November 21, 2004.

21
 405-068-1

Exhibit XIV
Key Financial Indicators
Rs. in million
Particulars 2003-04 2002-03 2001-02 2000-01 1999-00
A) Operating Income
Earned from
188,178 190,019 177,697 189,450 160,183
Sale of Energy
Consultancy & Other
61,816 4,492 7,076 9,604 7,502
Income
Total 249,994 194,511 184,773 199,054 167,685
Paid & Provided for Fuel 122,150 110,312 103,991 99,342 80,051
Employees Remuneration
8,835 8,268 8,036 7,640 6,212
& Benefits
Generation, Administration
9,813 10,814 11,531 10,067 9,546
& Other Expenses
Provisions (net) (3,813) 1,567 1,730 6,328 4,365
Prior Period/Extra
183 803 (500) 798 544
Ordinary Items
Profit before
Depreciation, Interest & 112,826 62,747 59,985 74,879 66,967
Finance Charges and Tax
Depreciation 20,232 15,291 13,784 23,223 20,831
Profit before Interest &
92,594 47,456 46,201 51,656 46,136
Finance Charges and Tax
Interest & Finance Cost 33,697 9,916 8,680 10,918 9,828
Profit before Tax 58,897 37,540 37,521 40,738 36,308
Tax (Net) 6,289 1,465 2,125 3,400 2,063
Profit after Tax 52,608 36,075 35,396 37,338 34,245
Dividend 10,823 7,080 7,079 7,470 6,500
Dividend Tax 1,387 395 - 762 1,100
Retained Profit 40398 28600 28317 29106 26645
B) What is Owned
Gross Fixed Assets 400,281 366,106 328,912 323,073 284,738
Less : Depreciation 187,736 167,456 152,131 138,416 114,403
Net Block 212,545 198,650 176,781 184,657 170,335
Capital Work-in-progress,
Construction Stores & 74,953 63,863 65,550 38,161 50,552
Advances
Investments 173,380 36,674 40,281 39,915 9,016
Current Assets, Loans &
135,468 94,132 1167,799 160,756 171,808
Advances
Total Net Assets 596,346 493,319 450,411 423,489 401,711
Contd…

22
 405-068-1

Contd…
C) What is Owed
Long Term Loans 149,415 127,090 113,161 96,364 97,521
Working Capital Loans 5,113 5,067 2,651 1,683 3,253
Current Liabilities &
80,941 45,850 48,146 67,324 71,893
Provisions
Total Liabilities 235,469 178,007 163,958 165,371 172,667
D) Others
Deferred Revenue -
Advance Against 1,591 271 - - -
Depreciation
Development Surcharge
3,784 - - - -
Fund
Total 5,375 271 - - -
E) Net Worth
Share Capital 78,125 78,125 78,125 78,125 78,125
Reserves & Surpluses 277,376 237,002 208,400 180,082 150,979
Miscellaneous
Expenditure -
(87) (72) (90) (59)
(To the extent not written
off or adjusted)
Net Worth 355,501 315,040 286,453 258,117 229,045
F) Capital Employed 458,267 386,343 356,526 330,452 297,604
G) Value Added 66749 88084 80889 103343 91159
H) No. of Shares 7812,549,400 7812,549,400 78,125,494 78,125,494 78,125,494
I) No. of Employees * 20,971 21,408 21,383 21,289 21,265
J) Ratios
Return on Capital
12.93 10.88 11.93 13.63 13.86
Employed (%)
Return on Net Worth (%) 14.94 12.13 12.98 14.75 14.97
Net Worth per Share (Rs.) 45.50 40.32 3666.58 3303.88 2931.76
Current Ratio 1.67 4.23 3.49 2.39 2.39
Debt to Equity 0.43 0.42 0.40 0.38 0.44
Value Added/Employee
3.18 4.11 3.78 4.85 4.29
(Rs. Million)
* Excluding Badarpur Thermal Power Station (BTPS), Bharat Aluminium Company Limited,(BALCO) and JVs

Source: www.ntpc.co.in

23
 405-068-1

Exhibit XV
Employee Cost Summary
(Rs. million)
Description 1994-95 1995-96 1996-97 1997-98 1998-99 1999-00 2000-01 2001-02 2002-03 2003-04
A. Salaries,
wages &
benefits*
2,063 2,315 2,618 3,411 4,363 5,789 7,082 7,494 7,590 8,180
(incl.Provident
Fund and
Other
contributions)
B. Other Benefits
1. Welfare
318 403 531 783 733 772 1,044 1,359 1,352 1,430
expenses
2. Township 260 306 361 367 461 565 520 469 460 575
3. Educational &
school 37 58 90 111 116 125 140 121 119 158
facilities
4. Medical
117 143 153 364 262 284 298 359 383 427
facilities
5. Subsidised
14 18 19 21 28 39 28 39 35 45
transport
6. Social &
cultural 38 47 54 60 87 67 133 79 79 109
activities
7. Subsidised
58 72 93 104 112 130 142 114 139 159
canteen
Total ( B ) 842 1,047 1,301 1,810 1,799 1,982 2,305 2,540 2,567 2,903
Total ( A+B ) 2,905 3,362 3,919 5,221 6,162 7,771 9,387 10,034 10,157 11,083
8. Year end
number of 19,223 21,233 21,407 20,710 20,798 21,265 21,289 21,383 21,408 20,971
employees **
9. Average
number of 19,025 20,228 21,320 21,059 20,754 21,032 21,277 21,336 21,396 21,190
employees
10. Average
Salary, wages
& benefits per 108,436 114,445 122,795 161,974 210,225 275,247 332,848 351,237 354,747 386,040
employee per
annum (Rs.)
11. Average cost
of other
benefits per 44,258 51,760 61,023 85,949 86,682 94,237 108,333 119,048 119,979 137,002
employee per
annum (Rs.)
12. Average cost
of
employees re
152,694 166,205 183,818 247,923 296,907 369,484 441,181 470,285 474,726 523,042
muneration &
benefits per
annum (Rs.)
* Excluding payment to personnel employed for social amenities
** Excluding BTPS, BCPP and Joint Venture Companies.
Source: www.ntpc.co.in

24
 405-068-1

Additional Readings & References:

1. V. Sridhar, The Power Majors, Frontline, November 28, 1997.

2. The NTPC Success Story: Ideas Validated in Action, http://darpg.nic.in/content/upload/
Event114.htm ,2000.
3. Public Sector Units Do not Highlight their HR Practices, http://www.magindia.com/
manarch/news/man4889.html,December 25, 2001.
4. R. Sridharan, Positive Charge, Business Today, September 14, 2003.
5. C. P. Jain, NTPC: Powering India, Empowering Indians,
http://www.shilpabichitra.com/Shilpa2004/anni_1_047.html, 2004.
6. Powering Development,http://www.hinduonnet.com
7. NTPC Highlights, http://cpsupower.nic.in/newntpc/opt2_b_mar2004.htm, March 2004.
8. Sahad P. V., The Lure of the Public Sector, Business Today, November 21, 2004.
9. M. Rajshekhar, Powered by the People, Businessworld, December 6, 2004.
10. TCS, Bharti, NTPC Best Employers, www.theeconomictimes.com, December 10, 2004.
11. http://www.globalcompactindia.org
12. www.nissparta.org
13. www.growtalent.com
14. http://www.powerhrforum.org/members/ntpc.asp
15. www.ntpc.co.in
16. www.hewitt.com
17. www.rel.co.in
18. www.tatapower.com
19. www.equitymaster.com
20. www.pmintpc.com

25