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Product cover image for Hari Krishna Exports: Transforming Employees

Hari Krishna Exports: Transforming Employees

Malay Patel; Patturaja Selvaraj

Product #:9B17C009_P
Supplier:Ivey
Discipline:Entrepreneurship, International Business, Organizational Behaviour/Leadership
Setting:India, 2014
Details:Case (PDF) • 11 pages • 2017-02-28

Subjects:

Employee engagementDeveloping employeesBusiness managementOrganizational cultureEntrepreneurshipInternational businessOrganizational behavior

Industries:

Fabrication and manufacturing

Geography:

IndiaAsia
Your Price:$9.71

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In October 2014, Hari Krishna Exports, a US$975 million Indian diamond manufacturing company, made international news when it gave 1,268 employees a generous performance incentive of approximately US$5,700. This was part of a radical loyalty program the company had started in 2011. However, with the market dynamics of the diamond industry constantly changing, giving such performance incentives on a yearly basis would be a great challenge. Price fluctuations at every step of the process—from procurement, to polishing, to the retail markets of the diamonds—created inherent risk in the industry. Intermediaries such as diamond polishers, in comparison to miners, had less control over the upstream channels of diamond procurement, which usually comprised exploration and the mining of diamonds. What would be the ultimate engagement level of the employees? Would such performance benefits for retaining talented employees be sustainable over the long run for an export house?

Learning Objectives

This case is designed for a human resources management course focusing on the implementation of employee engagement practices, strategic human resources, and total reward management for the long-term sustainability of an organization. The case is suitable for MBA courses and executive management programs. After completion of this case, students will be able to:
  • discuss an organizational culture strongly aligned with Indian customs and traditions;
  • evaluate how culture shapes employees’ attitudes, values, and behaviours in a broader context, and what overall impact it has on society;
  • discuss the role that recession plays in transforming a traditional industry;
  • discuss how innovative human resources practices support a personalized, family-like culture; and
  • analyze the effectiveness of such a process over the long run in light of different factors, such as market conditions, a company’s growth size, global operations, competitors, and regulations.
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Case Study: Hari Krishna Exports: Transforming Employees | Ivey Publishing