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Private steel major <keyword id="6357147" type="COMPANY" weightage="20" keywordseo="tata-steel">Tata Steel</keyword> will pay a total of ₹270.28 crore as annual bonus for the accounting year 2020-2021 to its eligible employees of all applicable division /units of the company, a release said.<br /><br />A <keyword id="398939" type="PERSON" weightage="20" keywordseo="memorandum-of-settlement">Memorandum of Settlement</keyword> was signed on Wednesday between Tata Steel and the Tata Workers' Union, for payment of annual bonus for the accounting year 2020-2021, the release issued by the company said.<br /><br />The total payout for eligible employees of all applicable divisions/ units of the company will be Rs 270.28 crore.<br /><br />Out of this, various divisions at Jamshedpur including Tubes, an amount of ₹158.31 crore will be given. The minimum and maximum annual bonus payable will be ₹34,920 and ₹3,59,029 respectively.<br /><br />T V Narendran, CEO &amp; MD, Atrayee Sanyal, Vice President (HRM) and other senior executives signed on management's behalf while Sanjeev Kumar Choudhary, president, <keyword id="230274" type="ORGANIZATION" weightage="20" keywordseo="Tata-Workers-Union">Tata Workers Union</keyword>, Shailesh Kumar Singh, deputy president, Tata Workers' Union, Satish Kumar Singh, general secretary, Tata Workers' Union and other office bearers signed on Union's behalf.<br /><br />Further, a Memorandum of Agreement has also been signed between the steel company and the Indian National Metal Workers' Federation (INMWF) and Rashtriya Colliery Mazdoor Sangh (RCMS). Total payout on account of annual bonus at Coal, Mines and FAMD is ₹78.04 crore approximately.<br /><br />Another Memorandum of Settlement was signed on Wednesday between Tata Steel and the <keyword id="11890253" type="UNKNOWN" weightage="20" keywordseo="tisco-mazdoor-union">Tisco Mazdoor Union</keyword>. Total payout on account of annual bonus for growth shop is ₹3.24 crore approximately.<br /><br />The agreement was signed by Avneesh Gupta, <keyword id="45171" type="POSITION" weightage="20" keywordseo="VP">VP</keyword> (<keyword id="474813" type="ORGANIZATION" weightage="20" keywordseo="TQM">TQM</keyword> and E&amp;P), Atrayee Sanyal, VP (HRM), and other senior executives signed on management's behalf and Rakeshwar Pandey, president, Tisco Mazdoor Union, Adityapur, Shio Lakhan Singh, general secretary, Tisco Mazdoor Union and the other office bearers signed on Union's behalf.<br /><br /><br /><strong>SEE ALSO:<br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/urban-company-on-lookout-for-15000-service-professionals-in-50-cities-in-india/articleshow/85447261.cms">Urban Company is on the lookout for 15,000 service professionals as it wishes to tap into 50 cities by the end of this year</a><br /></strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/android-auto-will-replace-with-google-assistant-driving-mode-in-android-12-phones/articleshow/85447812.cms"><strong>Android Auto on phone screens will not be available on Android 12</strong></a><br />

Tata Steel announces ₹270 crore annual bonus for all eligible employees for 2020-21

<ul class="summary-list"><li>Michael Canic, PhD, is a consultant who heads strategic change initiatives with top CEOs and <keyword id="13778" type="ENTERTAINMENT" weightage="60" keywordseo="Management">management</keyword> teams, and was a former leader at FedEx.</li><li><strong>The following is an <keyword id="1591634" type="PERSON" weightage="60" keywordseo="Excerpt">excerpt</keyword> from his new book, <a href="https://www.amazon.com/Ruthless-Consistency-Committed-Implement-Organizations/dp/1260459810" target="_blank" rel="noopener">"Ruthless Consistency: How Committed Leaders Execute Strategy, Implement Change, and Build Organizations That Win."</a></strong></li><li><strong>In it, he explains how leaning on consistency is a reliable path to success, and companies that incorporate changes on a systematic level achieve more than those who superficially fix problems.</strong></li><li><strong>"The whole truly is greater than the sum of its parts" when it comes to crafting a plan — and aligns every decision and action with success.  </strong></li></ul><p>"Create a culture of continuous quality improvement."</p><p>That was the mandate that came down from corporate. It was early in my career with FedEx where I had taken on a role with responsibility for district-level service quality. I was just one of many young professionals at the company who wanted to make their mark in this newly created position.</p><div type="image" title="CANIC1260459810" height="2700" width="1800" msid="78061341" hostid="261"></div><h2>FedEx already had a strong reputation for service quality.</h2><p>It had set the industry standard for reliability — delivering overnight packages "absolutely, positively" on-time — but the competition was closing the gap. Driven to stay one step ahead, the company decided to create a culture of continuous quality improvement, a culture that would continually find ways to enhance service, compress cycle times, and reduce costs. Better. Faster. Cheaper.</p><h2>Many of my counterparts wanted to get a fast start.</h2><p>Almost immediately they started pushing people through quality training and forming quality teams. The race to implement quality was obvious when they reported their progress each month on a global conference call. Everyone wanted to impress. </p><h2>I took a different approach.</h2><p>I knew that many organizations had gone down the same path, and while some had succeeded, most had failed. In fact, leading publications were touting headlines that suggested quality—known more commonly then as Total Quality Management, or TQM — was on its last legs: "TQM: More Than a Dying Fad?" (Fortune), "Is Quality Dead?" (Training magazine), "Totaled Quality Management" (Washington Post), "The Dark Side of Quality" (Quality Digest). Failure, apparently, was the norm. I wanted to know why. So instead of racing off to implement quality, I dove into the articles and case studies to understand what led to success and what led to failure.</p><p>Naturally, I had some preconceptions. All of them were wrong.</p><h2>The anatomy of success and failure</h2><p>My first thought was that training was the key. Maybe the successful companies provided employees with more training than the unsuccessful ones. Maybe they delivered "just-in-time" training. Maybe they started by training top-level managers and then cascaded training down through the organization. All reasonable ideas … but none of them was the answer. Many companies provided quality training in a variety of ways, yet still failed.</p><h2>Could it be resources?</h2><p>Maybe the successful companies simply allocated more resources to their quality efforts. But that wasn't it either. Surprisingly, the companies that applied the most resources often experienced the greatest failures.</p><h2>What about communications?</h2><p>Maybe the secret was to communicate continually to employees the what, why, and how of continuous quality improvement. No, that wasn't it. I came across companies that implemented detailed communications plans … and still failed.</p><h2>Incentives and rewards?</h2><p>Surely, aligning these with the desired behaviors and outcomes would lead to success. Nope. Measurement, tracking, and reporting? Same thing. And so it went with every management practice I examined. It all pointed to a conclusion I didn't like and didn't want to accept. That succeeding or failing with continuous quality improvement was simply a matter of chance.</p><h2>I was at a dead end.</h2><p>Isn't there anything an organization can do that reliably leads to success?</p><p>And then it hit me. No, there isn't anything. <em>Any one thing.</em> It's everything. <em>Everything matters.</em></p><p>Companies that successfully implemented continuous quality improvement made sure everything was aligned with success. Every decision. Every action. All the arrows were pointed in the right direction. Consistently.</p><p>The successful companies regularly communicated the purpose of continuous quality improvement, why it was important, and how it applied to each individual. They provided the necessary skills, resources, and authority. They developed metrics and goals. They tracked and reported progress. They aligned management compensation. They celebrated successes. And they had the courage to hold people accountable. Again, all the arrows were consistently pointed in the right direction. These companies understood that "tell 'em and train 'em" simply wasn't good enough. They knew that any critical factor misaligned could lead to failure.</p><p>And the companies that weren't successful? Every case of failure I came across could be traced to inconsistency. The unsuccessful companies formed quality improvement teams, but didn't give people the authority to make changes. They set goals, but didn't provide the resources to achieve them. They promoted quality, but as long as managers hit their financial targets, then quality didn't matter. Inconsistency.</p><h2>It was absolutely clear. <em>The difference between success and failure was ruthless consistency.</em></h2><p>It turns out that's true not just for continuous quality improvement; it's true for any strategic change initiative (SCI). Successful implementation requires more than just a pinch of training, a dash of resources, and a dollop of communications. It requires a systematic approach to aligning everything with the desired outcome. Everything matters. The whole truly is greater than the sum of its parts.</p><p>Think of it this way. It takes only one misaligned wheel to make your car undrivable, one misaligned vertebra in your back to incapacitate you. One misaligned element in any system can undermine everything.</p><p>Ruthless consistency is the key to implementing strategic change.</p><p style="font-weight: 400;"><em>Excerpt from "RUTHLESS CONSISTENCY: How Committed Leaders Execute <keyword id="6363690" type="UNKNOWN" weightage="100" keywordseo="Strategy">Strategy</keyword>, Implement Change, and Build Organizations That Win" by Michael Canic, p. 7-10 (McGraw Hill, September 2020).</em></p><p style="font-weight: 400;"><em><div type="image" title="Michael Canic" height="1280" width="853" msid="78061344" hostid="261"></div></em></p><p style="font-weight: 400;"><em>Michael Canic, PhD, is the author of "<a href="https://urldefense.proofpoint.com/v2/url?u=https-3A__www.makingstrategyhappen.com_ruthlessconsistency_&amp;d=DwMFaQ&amp;c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&amp;r=uVozw3HLyowOXx9NKjTeqW066qtGKLOxe3sKj-0M1xE&amp;m=jPOKlpehbBv8orkuuwF2fwYIpKJzvZSmwvyYTfefafs&amp;s=O6S8xTChqbHYR_47TKLrwuGVo05aciXUU7dTULYFow4&amp;e=5aciXUU7dTULYFow4&amp;e=" target="_blank" title="https://urldefense.proofpoint.com/v2/url?u=https-3A__www.makingstrategyhappen.com_ruthlessconsistency_&amp;d=DwMFaQ&amp;c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&amp;r=uVozw3HLyowOXx9NKjTeqW066qtGKLOxe3sKj-0M1xE&amp;m=jPOKlpehbBv8orkuuwF2fwYIpKJzvZSmwvyYTfefafs&amp;s=O6SvyYTfefafs&amp;s=O6S" rel="noopener">RUTHLESS CONSISTENCY: How Committed Leaders Execute Strategy, Implement Change and Build Organizations That Win"</a> (September 1, 2020; McGraw Hill). He is also the president of Making Strategy Happen, a consultancy which helps committed leaders turn ambition into strategy, and strategy into reality. Previously, he managed the consulting division at The Atlanta Consulting Group and held a <keyword id="34454" type="ORGANIZATION" weightage="60" keywordseo="leadership">leadership</keyword> role at FedEx. Michael earned a PhD in the psychology of human performance from the University of British Columbia.</em></p><p style="font-weight: 400;"><em>Currently, Michael leads strategic change initiatives in the corporate world, and spent the past 25 years consulting with CEOs and top management teams across North America. A former national championship winning coach, Michael is also a member of Marshall Goldsmith's global 100 Coaches project. He lives between Denver and Vancouver and has written over 400 posts for his <a href="https://urldefense.proofpoint.com/v2/url?u=https-3A__www.makingstrategyhappen.com_blog_&amp;d=DwMGaQ&amp;c=nQOnw6HHAeKBNxj23OXhOw&amp;r=eDsQHACneGTCcwVmoxRh14UHNwYkIqw0dpkN0a2Oyws&amp;m=sVckcafD20tcFJlfSiCBKNjoSUhVlJlXGfSfu8-62Ms&amp;s=H6OXW5IxBjhaKXtb1_oUjbmUhJks_vvG7n7L5QpTGqs&amp;e=ks_vvG7n7L5QpTGqs&amp;e=" target="_blank" rel="noopener">blog</a>.</em></p>

If your company isn't consistent, you're setting yourself up for failure. Here's why it's the most reliable path to success.

<p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><ul class="summary-list"><li><strong>Tiger Woods won the Masters on Sunday, his fifth win at Augusta National and first major win since 2008.</strong></li><li><strong>On the Tuesday before the Masters, James Adducci of Wisconsin placed an $85,000 bet on Woods to win at 14/1 odds.</strong></li><li><strong>Adducci was in Las Vegas on Monday to cash his winning ticket, taking home $1.19 million.</strong></li><li><strong>Adducci told reporters that it was the first bet he ever placed on sports.</strong></li><li><strong><a href="https://www.businessinsider.com/category/masters-2019">Read all of Business Insider's Masters coverage here</a>.</strong></li><li><strong><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit BusinessInsider.com for more stories</a>.</strong></li></ul><p>When Tiger Woods won the Masters on Sunday he made a lot of people happy, with friends, family, and fans all joining together to celebrate Woods' ascension back to the top of his sport.</p><p>But it's likely that nobody was happier with Woods' win than James Adducci from Wisconsin, who placed an $85,000 bet on Woods to win the Masters.</p><p><em><strong>Read more</strong>: <a href="https://www.businessinsider.com/tiger-woods-bet-masters-odds-favorites-2019-4">Gambler wins $1.19 million after placing $85,000 bet on Tiger Woods to win the Masters</a></em></p><p>Adducci placed his bet with William Hill US sportsbook at 14/1 odds, and when Woods went on to win, his ticket cashed for an impressive $1.19 million payday.</p><p><span>"If I saw Tiger, I would tell him that I understood the pressure he must be under, because I, for a moment in time, felt it too," <a href="https://www.actionnetwork.com/golf/tiger-woods-masters-bet-winnings-las-vegas-million-dollars">Adducci told Darren Rovell of The Action Network</a>.</span></p><p>On Monday, Adducci was in Las Vegas to cash his ticket at the William Hill Sports Book at SLS Casino. While speaking with reporters, he revealed some shocking news, claiming that this was the first bet he'd ever made on sports.</p><p>&#xa0;</p><p><a href="https://www.golfdigest.com/story/gambler-who-won-dollar12-million-on-tiger-woods-2019-masters-victory-i-had-never-placed-a-bet-on-sports-in-my-life" target="_blank" rel="noopener">Speaking with Golf Digest's Stephen Hennessey</a>, Adducci, a self-employed day-trader, said that he put together all the money he could afford to lose and made the decision to put it on Woods. <span>"I just thought it was pre-destined for him to win," he told Hennessey.</span></p><p><span>Adducci says he was turned away from two casinos before William Hill decided to accept his action.</span></p><p><span>His faith in Woods came not just from his fine form, but the fact that Woods would be playing in front of his kids. </span><span>"It wasn't about the stats for me," Adducci told Hennessey. "The fact that this was going to be his first major in front of his kids, I was convinced he would win."</span></p><p><em><strong>Read more</strong>: <a href="https://www.businessinsider.com/tiger-woods-celebrates-family-masters-2019-4" data-analytics-position="4">Tiger Woods shared a beautiful moment with his family immediately after walking off the 18th green as Masters champion</a></em></p><p><span>Adducci also praised his wife for her understanding during what must have been a trying few days. "She said to me, 'I can't stop you from doing this, because if he wins, I'll never forgive myself.' She's a keeper.</span><span>"</span></p><p><span>You can read Hennessey's entire story on Adducci <a href="https://www.golfdigest.com/story/gambler-who-won-dollar12-million-on-tiger-woods-2019-masters-victory-i-had-never-placed-a-bet-on-sports-in-my-life" target="_blank" rel="noopener">here</a>.</span></p><ul class="read-more-links"><li>Read more Masters 2019:</li></ul><p><a href="https://www.businessinsider.com/jack-nicklaus-tiger-woods-masters-win-2019-4" data-analytics-position="2">Jack Nicklaus said he knew Tiger Woods was going to win the Masters well before the 18th green at Augusta National</a></p><p><a href="https://www.businessinsider.com/video-nike-ad-tiger-woods-masters-win-2019-4" data-analytics-position="3">Nike released a moving new ad to celebrate Tiger Woods victory at the Masters</a></p><p><a href="https://www.businessinsider.com/tiger-woods-celebrates-family-masters-2019-4" data-analytics-position="4">Tiger Woods shared a beautiful moment with his family immediately after walking off the 18th green as Masters champion</a></p><p><a href="https://www.businessinsider.com/masters-tiger-woods-francesco-molinari-water-2019-4" data-analytics-position="3">The door opened for Tiger Woods' win at the Masters on its most notorious hole when 4 contenders hit their balls into the water in a span of minutes</a></p><div></div>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/pro-golfer-intense-standoff-tiger-woods-us-open-2017-7">What it's like to go into sudden death with Tiger Woods</a></h3>        <div>                    </div>    </div>

The person who won $1.19 million by betting $85,000 on Tigers Woods to win the Masters had never bet on sports on before

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Tata Steel announces ₹270 crore annual bonus for all eligible employees for 2020-21

PTI

If your company isn't consistent, you're setting yourself up for failure. Here's why it's the most reliable path to success.

Michael Canic

The person who won $1.19 million by betting $85,000 on Tigers Woods to win the Masters had never bet on sports on before

Tyler Lauletta

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