HCLFoundation, which delivers the corporate social responsibility agenda of HCLTech in India, has signed a memorandum of understanding (MoU) with Stanley Black & Decker, a worldwide leader in tools and outdoor powered equipment, to skill youth in India to make them employable in the manufacturing industry.
Stanley Black & Decker will establish training and development hubs at two government-run industrial training institutes (ITIs)—ITI Morwadi in Pune and ITI Guindy in Chennai—where HCLFoundation will implement the power tools skill development program.
Approximately 1,000 youth are expected to benefit annually from the collaboration. The program will also impart advanced training to ITI trainers, aligning them with the latest market technologies. Industry outreach activities, technical guest lectures, job fairs and health camps will also be organized.
“Our mission is to equip youth and the industrial workforce with job-ready skills and support the growth of the manufacturing sector in India,” said Dr. Nidhi Pundhir, Vice President, Global CSR, HCLFoundation.
“By harnessing the combined strengths of HCLFoundation and Stanley Black & Decker, we are poised to make a tangible impact on the lives and careers of countless individuals.”
“We are proud to contribute to this endeavor and share our expertise in power tools. This initiative is not only about skill development but also about enhancing safety practices and efficiency in the industry,” said Sunil Krish, Director-Manufacturing, Stanley Black and Decker India Pvt. Ltd.
HCLTech to start its wage reviewing process for the fiscal year FY24. The revision will only be applicable to the junior employees.
Chief People Officer Ramachandran Sundararajan said, “We had deferred pay revision by a quarter. We will now be going ahead with pay revision this quarter, from October onwards.”
“Mid- and senior management won’t take pay hikes in FY24. But for 90 percent of our employees, we will go ahead with pay revision,” Ramachandran Sundararajan added.
However, the compensation review for the mid to senior management level employees has been postponed entirely in FY24.
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