Hari Krishna Exports: Employee-Centered Social Business

            

Details


Case Code : CLHR037
Period : 2014
Publication date : 2015
Subject : Human Resource Management
Organization : Hari Krishna Exports
Industry : Gems and Jewelry
Countries : India
Length : 04 Pages

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Abstract: ICMR India ICMR India ICMR India ICMR India RSS Feed

This case is about Hari Krishna Exports, a diamond and jewelry export and manufacturing company based in Surat (Gujarat, India). Hari Krishna Exports was set up in the year 1992 by Savji Dholakia. His brothers later joined him in the business and in the first year itself the company achieved an annual turnover of Rs 10 million. After that, there was no looking back for the company. Its performance kept improving and it made its presence felt not only in India but in over 35 other countries to which it exported diamonds. On October 21, 2014, the Chairman of Hari Krishna Exports, Savji Dholakia, announced a bonus worth Rs 500 million to 1,268 employees who had contributed to the tremendous growth of the company. The bonus included Fiat Punto cars for 491 employees, jewelry for 570 employees, and part-payment (company contribution) for flats for 207 employees.

The company adopted an employee-centric approach, providing the employees and their families with various benefits. Hari Krishna Exports started a 'loyalty program' under which employees who were loyal to the company and contributed to its growth were given special recognitions. These recognitions were not limited to any specific class or position of workers; rather, it covered managers, artisans, and even cleaning staff. This kind of approach helped the company not only to retain employees but also to excel in the business.

Issues:

Understand the value of employees in an organization.
Understand the various policies to motivate employees.
Analyze rewards as a motivational tool.
Recognize the importance of employee contribution to business.


Introduction

On October 21, 2014, Automobile Company Fiat (India) made its biggest single delivery of 491 Fiat Punto cars to fulfill an order placed by Hari Krishna Exports, a diamond and jewelry export and manufacturing company based in Surat (Gujarat, India). The company distributed these cars among its employees as a bonus on the occasion of one of the important festivals in India, Diwali. The Chairman of Hari Krishna Exports, Savji Dholakia (Dholakia), announced gifts in the form of not only cars but also flats and jewelry too to 1,268 employees of the company...

Key words:
Rewards, employee motivation, employee contribution, employee compensation, incentives, job satisfaction, employee engagement, employee turnover

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