Larsen & Toubro (L&T) chairman AM Naik (81) who is set to step down from his post on September 30, said that the company depends on intensive training of its employees to drive growth. He also revealed that he chose to hire the best graduates from second-level colleges because they were better than the bottom quadrant of the first-level colleges.
In conversation with Moneycontrol, Naik elaborated on how L&T focuses on training its employees -- a job they do so well that even their rivals seek out L&T professionals to work with them.
"L&T depends on -- training, training, and training," the chairman said. "We have built our own institutions for management, projects, and manufacturing. We create our own people from mid-tier engineering colleges and not high-flying engineers who will go to other industries."
AM Naik also pointed out that he himself did not go to IIT. "I was not an IIT graduate, because my father went to a village but destiny brought me to L&T."
Elaborating on their hiring practices, Naik added, "I believe the best students of second-level colleges are better than the bottom quadrant of the first-level colleges. So, we take them and train them well. We have managed it well enough that the whole industry has sourced professionals from us, and they are becoming our competitors but that's a way of life."
Naik, who was the force behind many of L&T’s diversifications, will continue to be the Chairman of employees’ trust of L&T.
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