Torn Between MNC and NTC: Should I Risk Joining a Loss-Making PSU in HR?

Hi Colleagues, I have received an offer in HR from the National Textile Corporation. Based on reviews from various sources, it has come to my attention that it is a loss-making PSU and could potentially be shut down at any time. Additionally, the 3rd PRC due from 1st Jan 2017 will not be applicable to NTC due to losses in recent years.

On the other hand, some individuals claim that NTC will never be shut down as it possesses significant assets of its own, and the 3rd PRC will also apply to NTC.

I am currently working with an MNC and am torn between accepting the offer from NTC or declining it. I am seeking advice on this matter promptly. Please advise at your earliest convenience.

Hi, Dhritirana, I presume you are considering a career with Mumbai-based NTC. As far as I know, and as you are also aware, NTC is a flagship group of companies spread across textile mills all over India, albeit loss-making. Whether this particular company in question will be closed or not is anybody's guess. Similarly, whether a wage revision settlement will be reached is a million-dollar question. Nobody can guarantee it. It's most likely unlikely. It's also true that NTC's group of mills, being some of the oldest PSU units, are now situated on prime lands in big cities and are worth significant values, really a fortune. However, this doesn't mean they cannot be closed down. Many units have already been declared 'sick,' and the closure process is ongoing; they may or may not be closed down, depending on the government's decision.

Apart from that, a career in HR at NTC is truly challenging. You will gain ample knowledge and practical experience in understanding what IR and HR truly entail, specifically dealing with strikes, lockouts, retrenchment, ESI, EPF, induction, training/re-training, welfare measures, employees' compensation, domestic inquiries, and perhaps closure formalities as well. If your aim is to acquire knowledge and experience, then yes, it's the right choice. However, if you are looking for career growth in terms of financial aspects or wish to delve into modern HR/SRM practices, it may not be the ideal path. Perhaps, if the offer presents a significant leap in terms of scale/grade or designation, then it's your choice.