Human Capital at Shree Ramkrishna Exports

Podcast Beta

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What percentage of its net profit does SRK typically allocate to CSR activities?

3.5%

4.5% (correct)

Which of the following is NOT a focus area of Kaka's CSR initiatives?

Education

Water conservation

Corporate training (correct)

Community development

What underlying philosophy drives Kaka's approach to CSR in relation to the diamond industry?

CSR is a marketing strategy to increase sales.

CSR is mandated by legal requirements.

Luxury products have no obligation towards social impact. (correct)

Luxury products inherently provide social value.

In what year was the Nanduba Medical Centre established?

1990 Signup and view all the answers

Kaka dedicates time every day to CSR activities. How much time does he allocate?

1 hour Signup and view all the answers

What notable recognition has Kaka received for his contributions to CSR?

Sardar Vallabhbhai Patel Award Signup and view all the answers

Which organization recognized SRK for its CSR activities?

Gem and Jewellery Export Promotion Council Signup and view all the answers

Which of the following is a service offered by the Nanduba Medical Centre?

Consultation with specialist doctors Signup and view all the answers

What fee do patients have to pay to avail the OPD services at the center?

Rs. 50 Signup and view all the answers

Which award is conferred to artists and social contributors mentioned in the content?

Santokbaa Humanitarian Award Signup and view all the answers

What was the primary focus of the initiatives carried out over the weeks by the SRK family?

Social welfare activities Signup and view all the answers

What was the stance of SRK regarding staff layoffs during the tough economic times of 2008?

They did not lay off any staff members. Signup and view all the answers

What was the action taken by Kaka prior to the nationwide curfew imposed due to COVID-19?

He called for a board meeting to discuss COVID-19. Signup and view all the answers

Who is mentioned as a luminary that received the Santokbaa Humanitarian Award?

Sudha Murthy Signup and view all the answers

What philosophy does Kaka strongly believe in, as mentioned in the content?

Vasudhaiva Kuttumbakam Signup and view all the answers

What type of activities were included in the various initiatives by the SRK family?

Training sessions for police and municipal councillors Signup and view all the answers

What award did SRK receive for being socially responsible in 2016?

Most Socially Responsible Exporter Signup and view all the answers

Which certification was awarded to SRK for its Environmental Management practices?

ISO 14001 Signup and view all the answers

In which year did SRK move to a new office location at Bharat Diamond Bourse?

2018 Signup and view all the answers

Which award recognizes SRK's contribution to Corporate Social Responsibilities?

FGI Excellence Award Signup and view all the answers

What innovative feature did SRK introduce to grade diamonds virtually?

Digiplot Signup and view all the answers

Who delivered the first lecture of the Annual IIMA-SRK Lecture Series?

Raghuram Rajan Signup and view all the answers

Which prestigious award did SRK receive from the Gems and Jewellery Promotional Council?

Exporter of the Year Signup and view all the answers

What unique certification did SRK achieve relating to its building facility?

LEED Platinum Certification Signup and view all the answers

What is the primary focus of the Human Capital Department in SRK?

Employee-centric policies Signup and view all the answers

What cultural values does SRK prioritize in its recruitment process?

Integrity, respect, and social consciousness Signup and view all the answers

What recruitment tool is mainly used during the selection process at SRK?

Interviews with experienced team members Signup and view all the answers

Which policy is strictly followed by Kaka and the Human Capital Department for resolving employee concerns?

Open-door policy Signup and view all the answers

What has Kaka acknowledged as a challenge in maintaining connections with employees?

Reduced frequency of personal visits Signup and view all the answers

How does SRK’s recruitment process differ from many other firms?

Integration of cultural fit with core competencies Signup and view all the answers

What is the reason Kaka provides for not having salary expectations during recruitment?

Employees might earn more over time without preconceived notions Signup and view all the answers

How has the involvement of the next generation in family-owned SRK impacted the interview process?

Kaka's participation is still significant yet reduced Signup and view all the answers

What is a primary challenge for the CPD industry regarding its workforce?

Occupational switches by diamond artisans Signup and view all the answers

Who was known for promoting the value-driven work culture at SRK?

Kaka Signup and view all the answers

What critical decision is emphasized for the success of an organization like SRK?

Succession planning Signup and view all the answers

What concern does Kaka have regarding the young generation at SRK?

Their commitment to work culture Signup and view all the answers

What aspect is Kaka questioning about the industry's future recruitment?

Designing employee value propositions Signup and view all the answers

In which year did Kaka start his journey as an apprentice to a diamond cutter?

1964 Signup and view all the answers

What major action did Kaka take in 1977 that influenced the business expansion?

Began an inaugural business trip to Antwerp Signup and view all the answers

What was established by Kaka and his partners in 1970?

A diamond crafting company Signup and view all the answers

Study Notes

Shree Ramkrishna Exports (SRK) - Human Capital Department Evolution

Transformation from Human Resource to Human Capital Department took almost 10 years.
People-centric company with a motto of serving employees contributing to business growth.
Open HR policies, processes, and an open-door policy for employee concerns.
Reduced frequency of Kaka's shop floor visits due to other commitments.

Recruitment and Selection Process

Well-defined recruitment and selection process by the Human Capital Department (HCD).
Focuses on cultural fit and core competencies, prioritizing candidates aligning with SRK's values (integrity, respect, social consciousness, trustworthiness).
Initially, Kaka personally interviewed candidates; now, the next generation is involved.
Salary expectations are not a primary factor in the selection process.

Kaka interprets CSR broadly, contributing to Surat's economic growth and community development.
Spends approximately 4.5% of net profit annually on CSR activities (exceeding the mandated 2%).
CSR initiatives focus on health, education, energy, and water conservation. This began before government mandates.
SRK is recognized for CSR by the Gem and Jewellery Export Promotion Council (GJEPC).
Nanduba Medical Centre provides affordable healthcare services.
Santokbaa Humanitarian Award honors artists and social contributors.

Awards and Recognition

Kaka received several awards for his contributions.
SRK received numerous awards for excellence, social responsibility, and innovation.

Challenges and Succession Planning

Maintaining core work culture amidst generational change is a key challenge.
Succession planning is crucial, with decisions involving Kaka's consultation.
Uncertainty about whether the young generation will maintain the existing work culture.
Consideration of hiring external candidates for top leadership positions.

Additional Challenges

Sustaining a skilled workforce in the CPD industry due to occupational switching and difficulty attracting young talent.
The company successfully navigated the 2008 economic downturn and the 2020 COVID-19 lockdown without layoffs. Employees were reskilled instead.

SRK's Progression (Chronology)

1964: Kaka began his journey as a diamond cutter apprentice.
1970: Shree Ramkrishna Exports (SRK) established.
1977: Kaka's first business trip to Antwerp expanded opportunities.
1980: Factory established with improved working conditions.
2015-2018: Multiple awards and recognitions for excellence, innovation, and social responsibility. New initiatives launched. LEED Platinum Certification achieved.
President of India visited SRK.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Description

Explore the evolution of the Human Capital Department at Shree Ramkrishna Exports (SRK) from traditional Human Resources to a more people-centric approach. Understand their recruitment processes, focus on cultural fit, and commitment to corporate social responsibility. This quiz delves into the values and operations that define SRK's workforce strategy.