Leaderboard

One of the primary responsibilities of an HR Head is take stock of the existing Welfare measures and to introduce new measures as appropriate depending upon the Organizational affordability and Employee desirability . In today’s contemporary era ,where we have multigenerational workforce handling the business it becomes more imperative and challenging to introduce any welfare amenities that suits all category of Employees. Therefore the role of HR head becomes more crucial. What should an HR Head do to enjoy the confidence of both the Management and the Employees in such a tricky scenario. Here are some useful insights that might be helpful. ·Workforce statistics and list of Welfare measures provided : The preliminary step is to keep data on the number of Employees in each category viz., Baby Boomers, Gen X, Gen Y and Millennials. One has to also keep a list of various Welfare measures provided by the Organization like Term Insurance , Health Insurance , Superannuation benefits, Gift vouchers , Annual Medical Check-up (AMC), Holiday vouchers, Education Assistance (EA), Retention Bonus etc . Percentage of benefits utilized by each category : The next activity is convert the benefits utilized by each category of Employees in terms of percentage to get a holistic view. This will give the Organization an idea of what benefits are to be retained and what benefits are to be eliminated. Bucketing of Benefits : It is a wise idea to bucket the benefits into various categories depending upon the percentage of Employees in each category and provide the choice to Employees to select the option of basket which will best suit them. It is prudent to review this also on a periodical basis to find out whether it works or the bucketing has to be revisited. Benefits to CTC : Every Organization has its own policy with respect to benefits whether to keep it as a part of Cost to the Company (CTC) or to extend it as a standalone measure. It varies from Organization to Organization. Whatever the philosophy one has to carefully evaluate the legal implications associated with it . There are certain benefits that are mandated by law and there are certain benefits which are not. It should also be borne in mind that the benefits once extended cannot be withdrawn as desired since it will result in displeasure among Employees. Role of HR Head : The role of the HR Head is one of a recommendatory and communicative. HR Head should think twice before rolling out any welfare amenity whether this will be appreciated /welcomed by all or only a certain group/category of Employees. HR Head should keep Organizational interests above his personal choices. All the benefits should be periodically communicated and reiterated to the Employees to ensure that they are aware of all the schemes and its usage so that each one can make the optimum use of the same.

Introduction: As Douc Conant rightly points out “To win in the market-place you must first win in the workplace”.An organisation’s success and sustained performance is a complex process, predominantly characterised by its product/service offerings, which is directly proportional to the tangible and intangible inputs employed by the firm for desired output. While most of the tangible elements (raw materials, equipment, activities, processes, technology,and policies) are quantifiable and their corresponding results measurable, it is the intangible inputs - human capital, reputation and organisational culture that contribute to enhancing, and sustaining competitive advantages since they are difficult to emulate, lacks flexibility and are non-transferable.Human capital being the core component of the vital activities in an organisation therefore holds strategic importance. Structure: Employee experience commonly referred to as full spectrum of experiences or encounters and observations of an employee (for eg: conversations with superiors and colleagues, interaction with technology and systems) throughout his tenure within an organisation, is an important aspect that impacts the productivity and business goals of the organisation.Employee experience affects business outcomes in the following manner: 1) An engaged and satisfied workforce is more productive and motivated to deliver as per the organisation’s expectations and standards. Unhappy employees do not give their best at work. 2) Happy and energised employees give better customer service leading tocustomer retention and more business 3) Positive and energised workforce tend to be more agile and adaptable to changes and supports innovation in business requirementsthereby benefitting the business 4) Satisfied employees are the foundation stone of creating a strong organisation culture and aligns all to organisational goals and objectives 5) Positive employee experience helps in retention of scarce talent in the organisation thereby reducing attrition and associated costs. Also, happy employees spread positive word of mouth publicity which helps in creating credible brand identity. Conclusion: Organisations are realising that employees are the most valuable asset and the non- negotiable differentiating factor which will set them apart from competition. Hence, investing in the employees, engaging them and giving them unparalleled positive employee experience will not only enhancethe business results but will also help in carving their niche and building a brand image par excellence.

Good

Yes. Very well written

very well said mam

Very informative!!! Thank you.

Thanks for sharing such a useful information.

Great to see you

Thanks for the Information sir, its really useful🙂

Thanks @Balaji Thota sir for this the information is really valuable as leadership competencies make a huge difference

Crucial points to remember, thank you

Good know all these information Balaji...👍

thankyou for sharing useful information, it will be helpful in my workplace to do work effectively