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How Raymond stitched tradition to transformation
- Raymond, India’s oldest menswear manufacturer, is transitioning to compete in a changing market while preserving its traditional family-oriented culture.
- The company, founded in 1925, evolved from a paternalistic setup to a more competitive environment after India's economic liberalization.
- Raymond's diversification into real estate necessitated a shift to a startup mindset and entrepreneurial thinking.
- Leadership development at Raymond focuses on a structured competency framework and targeted programmes for high-potential employees.
- Adapting to a multigenerational workforce, Raymond emphasizes flexibility, autonomy, and trust in employee relations.
- The company cautiously integrates AI and automation into HR processes, emphasizing human oversight over technological reliance.
- Raymond's leadership requirements now prioritize transformation competencies, combining growth mindset, innovation, and collaboration.
- Organizational resilience is a core value at Raymond, translating into employee resilience through leadership training and self-awareness.
- Raymond's transformation story showcases challenges and successes in balancing tradition and innovation, with the market's verdict yet to be determined.
- The company's ability to blend its heritage with modernization will be crucial in its sustainability and competitive edge amidst evolving markets.
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