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NMDC declares performance incentive
India’s largest iron ore producer NMDC has announced annual performance incentives to employees. NMDC’ board at its apex joint council meeting held in Kolkata recently, okayed a proposal on paying Rs55,600 to every eligible worker employed on regular rolls under Annual Performance Incentive Scheme for the FY17.
Hyderabad: India’s largest iron ore producer NMDC has announced annual performance incentives to employees. NMDC’ board at its apex joint council meeting held in Kolkata recently, okayed a proposal on paying Rs55,600 to every eligible worker employed on regular rolls under Annual Performance Incentive Scheme for the FY17.
NMDC recorded its highest ever record production of 34 million tonnes and sales of 35.6 mn tonnes of iron ore for 2016-17 fiscal. N Baijendra Kumar, CMD, NMDC, along with all directors Dr Narendra K Nanda, Director (technical), Dr TRK Rao, director (commercial), PK Satpathy, director (production), DS Ahluwalia, director (finance), Sandeep Tula, director (personnel) and members of All India Trade Union had agreed on the proposal in incentives. Gurudas Dasgupta, former MP and president of All India NMDC Workers’ Federation was also present at the meeting, according to a release.
Baijendra Kumar said: “Annual performance incentive of Rs55,600 will be given to all eligible workmen.” Both Kumar and Dasgupta praised the dedicated efforts of all employees in achieving record turnover and sales. NMDC has 5,500 employees on its rolls and the public-sector major is well known for its best HR practices and industrial relations that enabled the company to achieve the highest ever record performance.
