Indian firms dip into leadership pool for growth

New Delhi, July 31 (IANS) Some of the larger Indian companies are investing heavily in developing leaders to revive a sagging business, rather than resort to cost cutting, which has become a trend.

Leading owner-driven companies such as CK Birla group, Dr Reddy's, GMR, Jindal Steel, Reliance Industries and Sterlite are already investing between Rs.5 crore and Rs.15 crore in developing leadership traits over and above their regular training allocation, says a new study.

The study, conducted by the Organisation Development Alternatives (ODA), a Delhi based consulting firm, suggests that companies across sectors are taking note of the complex nature of leadership in the fast-paced world of changing variables and lightning communication.

The Big 4 consultancy firms, which include Ernst & Young, Deloitte, PwC and KPMG, are moving beyond strategy-based solutions to provide advice on achieving excellence -- both at operational and execution levels, according to the ODA study.

ODA, founded by management expert Santhosh Babu, coaches chief executive officers and celebrities to help them realise their potential and bring about lasting positive change in society.

"Leadership development is now being oriented for the growth of the company in domestic and global markets as also for the succession plan," says Yogi Sriram, who is senior VP (Corporate HR) of India's largest engineering conglomerate L&T. The company offers leadership programs across all levels and functions.

"In order to perform sustainability in today's competitive markets the culture of the organization, and its ability to innovate and to satisfy stakeholders depends on the quality of the leadership," says Sonia Stojanovic, formerly senior practice expert at McKinsey's New York office.

This development is expanding the market, feels Santhosh Babu, CEO and MD, ODA. The pie is expected to grow to more than Rs.500 crore over the next 18-24 months, he adds.

"The Art of Developing Leaders" (Wiley, 2012), a book authored by Babu, delves into the coaching methodology and tools that help organisational leaders and professional coaches.