Why Is GIFT City Gearing Up For An HR System Overhaul?

As part of this transition, Gujarat International Finance Tec-City Company Limited (GIFTCL) has floated a tender to appoint a consulting agency for developing a comprehensive performance-based HR framework. The consultant will prepare KRAs, KPIs, and JDs for all sanctioned positions across the organisation.

GIFT City Expansion Roadmap

According to the General Manager (Planning & Contracts), GIFTCL City, the project is considered critical in view of GIFT City's planned expansion over the coming years. As per the Request for Proposal (RFP), the consultant will not only prepare JDs for every position but will also define how the performance of each role will be measured. Typically, each position will have five to seven KRAs, supported by SMART (Specific, Measurable, Achievable, Relevant and Time-bound) KPIs. These KPIs will include measurable performance indicators, weightage, accountability, methods of verification, and indicative performance targets.

According to the official, the consultant will also undertake a detailed review of the roles, responsibilities, and functional mandates of every department. Wherever overlaps, ambiguities, or gaps are identified, the consultant will recommend corrective measures. In effect, the exercise is not limited to HR documentation but also amounts to a comprehensive review of GIFT City's administrative structure.

The consultant will conduct meetings, interviews and workshops with the Managing Director & Group CEO, department heads, vertical heads, reporting managers, the HR department and employees to understand the actual responsibilities associated with every position. 

According to the RFP, the selected agency will be required to complete the assignment within 60 days. The project includes preparation of the implementation methodology, draft KRAs and KPIs, draft JDs, final deliverables, and 30 days of post-implementation support.

Top HR Firms In The Race

To qualify for the tender, bidders must have at least five years of experience in HR consulting, an average annual turnover of ₹15 crore during the last three financial years, and experience of completing at least three similar assignments. The consultant will be selected through the Quality and Cost Based Selection (QCBS) method, with a weightage of 70% for technical evaluation and 30% for financial evaluation.

According to the RFP, GIFT City currently employs around 28,000 people and is expected to reach approximately 100,000 employees by 2030. It is also projected to have a residential population of nearly 25,000 by then. At present, GIFT City has 25 operational buildings, 38 under construction, and eight in the planning stage.