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  • Change Management at ICICI

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    Krunal Bosamia
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    Change management at ICICI Bank involved transitioning the organization under new CEO KV Kamath in 1996 to become a market-driven financial powerhouse. Kamath initiated major organizational changes like creating new business groups for infrastructure, oil and gas, and client segments. However, his fast approach created confusion and unrest among employees unprepared for the changes. ICICI overcame these challenges through training programs, consultants to handle change management, and a new 360-degree appraisal system. These efforts helped ICICI successfully address HR issues and resulted in increased employee numbers and profitability over the following years.

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    Change Management @ ICICI

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    Change management at ICICI Bank involved transitioning the organization under new CEO KV Kamath in 1996 to become a market-driven financial powerhouse. Kamath initiated major organizational changes like creating new business groups for infrastructure, oil and gas, and client segments. However, his fast approach created confusion and unrest among employees unprepared for the changes. ICICI overcame these challenges through training programs, consultants to handle change management, and a new 360-degree appraisal system. These efforts helped ICICI successfully address HR issues and resulted in increased employee numbers and profitability over the following years.

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    74 views11 pages

    Change Management at ICICI

    Uploaded by

    Krunal Bosamia
    Change management at ICICI Bank involved transitioning the organization under new CEO KV Kamath in 1996 to become a market-driven financial powerhouse. Kamath initiated major organizational changes like creating new business groups for infrastructure, oil and gas, and client segments. However, his fast approach created confusion and unrest among employees unprepared for the changes. ICICI overcame these challenges through training programs, consultants to handle change management, and a new 360-degree appraisal system. These efforts helped ICICI successfully address HR issues and resulted in increased employee numbers and profitability over the following years.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
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    of 11

    Change Management @ ICICI

    Click to edit Master subtitle style

    Prepared By:

    8/28/12

    What is Change Management?


    Change management is a structured Click to edit approach to Master subtitle style transitioning individuals,teams, and organizationsfrom a current state to a desired future state.

    The field of change management grew from the recognition that organizations are composed of people. And the behaviors of people make up the outputs of an organization.

    8/28/12

    Factors for Change


    Nature of the workforce Technology Economic Shocks Competition Social Trends World Politics
    8/28/12

    ICICI & K. V. Kamath Kamath rejoined Indias leading financial

    services co. in 1996 as the CEO replacing Narayan Vagul.

    AimedatmakingICICIamarketdrive nco.InitiatedalotofOrganizationalc hangesimmediatelytomakeICICIafi nancial powerhouse. Kamath identified the main problem as thecompany's ignorance regarding the nuances of lending practices in newlyopened 8/28/12 sectors like infrastructure.

    Changes by K V Kamath
    Creation of Infrastructure group (IIG), Oil & Gas group (O&G), Planning and Treasury department(P TD), Structured Project groups (SPG).

    Creation of Client groups like Major Client group(MCG), Growth client group(GCG), Personal finance group.

    Change in employee reward system


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    Consequences of Changes Kamath's too fast too soon approach created a

    lot of confusion and unrest among the employees.

    Employees found creation of groups.

    Lack of proper training and expertise for various groups.

    No relationship between performance and reward. BoM merger lead to hugecultural differences in 8/28/12 the organization.

    Characteristics of Organization Culture Innovation and risk

    taking

    Attention to detail Outcome orientation People orientation. Team orientation Aggressiveness


    8/28/12

    How employees learn Culture

    Stories Rituals

    Material

    Symbol

    Languag e

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    Overcoming Challenges & ICICI Culture

    ICICI organized training programmes for existing employees. The company appointed consultants to handle the change managementproblems and work culture.

    A 360-degree appraisal system was put in place

    The HR issues were successfully 8/28/12 handled by ICICI, which resulted in Contd .

    .. Contd ICICIs employee strength and profitability kept on increasing overthe years.

    By the end of 2000, ICICI emerged as one of the largest financial institution ofIndia.

    8/28/12

    Thank you,

    8/28/12

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