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 It should also be borne in mind that the benefits once extended cannot be withdrawn as desired since it will result in displeasure among Employees.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.