In an exclusive chat with All Things Talent, Nandini Mehta, CHRO, Metro Brands Limited reveals how the company intends to update its people processes after the listing.
What kind of HR strategies did Metro Brands implement while gearing up for the IPO?
We have ESOPs that are based on tenure and the future criticality of the talent. One-time bonuses for employees are not part of ESOPs. We also went through an organisation structure enhancement, reviewing and updating people policies.
Post the listing, what were the challenges that you had to face in terms of employee welfare strategies, compensation benefits, compliances and others?
There were not many challenges. However, we are working on banding, compensation structures and meeting all the compliance requirements and streamlining our people processes with the vision to be a great place to work.
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As per a TOI report, MBL raised Rs 295 crore through the initial public offering in December last year. How will this fund be utilised for the HR strategies and policies?
We intend to build a robust organisation structure to help us achieve our 5-year vision. It also includes building internal capability and recruiting the best talent, automating people processes to ensure a seamless employee lifecycle in the organization and Learning and Development strategies to ensure employees are equipped with the required knowledge & skills.
We intend to build a robust organisation structure to help us achieve our 5 year vision. It also includes building internal capability and recruiting the best talent, automating people processes to ensure a seamless employee lifecycle in the organization and Learning and Development strategies to ensure employees are equipped with the required knowledge & skills.
What is the type of communication needed for the IPO?
We conducted several town halls, sessions on Do’s & Don’ts, orientation sessions on ESOPs & Insider Trading
In an interview with PTI, Nissan Joseph, CEO, Metro Brands had informed that the company will open 219 new stores in the next two-and-half years across the four formats – Metro, Mochi, Walkway and Crocs. Did the plans get impacted by the third wave in terms of hiring talents for these retail stores?
We did not face any issues in hiring. The company avoided retrenchment during Covid induced lockdowns and ensured giving mental comfort to employees by safe & hygienic work environment and ensured they don’t carry the fear of job loss. This helped in developing the trust amongst our current workforce and who become the brand ambassadors of the company to attract new talent. Also since online sales picked up it helped to facilitate and reduce the opportunity loss of closed offline sales.
What kind of a role does technology in recruitment and HR automation play in the listing process?
It helps in automating people processes for a seamless employee lifecycle in the organization. Technology helps in simplifying processes and recruitment. It would help to match profiles to the job description thus reducing the TATs and facilitating better reach across locations. Technology helps in the standardization of people’s practices and processes.
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What are your views on employer branding requirements as part of the public issuance?
The entire purpose of Employer branding changes with going public, as now it is not just about customers but also about shareholders. Whatever we do now, we will have to keep the interests of shareholders, customers, and employees in mind. It is important now, more than ever before, to work towards making MBL an Employer of Choice and a Brand that employees are proud to work for and candidates aspire to work in. Hence, all our employer branding initiatives would need to be focused on making MBL, a Great Place to Work.
Year of Incorporation: 1977
Promoters: Rafique Malik, Farah Malik Bhanji, Alisha Rafique Malik
Key Executives: CEO Nissan Joseph, CFO Kaushal Khodidas Parekh
Business Line: Operates a chain of fashion footwear and accessories stores.
Employee Count: About 2,691 permanent employees as of March 31, 2021, according to DRHP. The organisation further works with 1,235 selling agents, their staff, and contract workers.