Employees Look For Growth Opportunities And Transparency Over Compensation In Organizations
A panel at BW Businessworld's The Growth Leadership Conclave 2018 states that employees look forward to transparency and growth opportunities more than compensations in organizations
BW Businessworld's The Growth Leadership Conclave 2018 gathered the most recognized people from the SME industry of India. The conclave hosted informative discussions on growing and resolving problems in the community.
The first discussion moderated by Brij Pawha, Sr. Editorial Researcher and Coordinator included Vikramjeet Singh, CHRO, Bajaj Allianz General Insurance, Mrigank Tripathi, Vice President, Human Capital Management, PeopleStrong and Tulsi Tawari, CEO & Chief Strategist, Alternate Approaches.
"While we look at small brands that need attraction in the market, I'd like to say that building a network within the community you work in would enhance the name of the brand along with using low-cost technology which is effective and strategies to maintain the brand name," said Vikramjeet Singh.
"Taking in-house talent into consideration, it is important for the culture of the organization to engage with their talents and provide fairness and transparency which employees often look forward to," added Vikramjeet.
Mrigank Tripathi during the discussion sheds light on attracting talents that seek employment in large organizations.
He said, "The best way to attract young talents is with the help of deriving the meaning of your own brand. When a person seeks employment, factors like compensation, growth, and transparency attract him/her. But after gaining employment we have found that most of the employees look for being treated fair and get equal opportunities to grow as compensation becomes the last of their priorities. What we as organizations must look at is to help our people grow first and then hire external talented individuals."
Tulsi Tawari insisted that before looking out for new talents to grow the company it is essential for organizations to concentrate on their in-house talents and provide them the basic values which could further help retain those employees for a longer period of time.
"When we as enterprises look for people, we see how prestigious are the universities they come from. We need to concentrate on the skill sets they possess and how prepared they are to work with us. When you provide opportunities to your own talents you would find gems among them. We need to assess ourselves critically as to where do our employees stand with respect to the changing landscapes. The attitudinal critical analysis states that there are employee relationships and individual identity what people look for beyond money and compensations."
The panel concluded that employees prefer being provided with transparency, fair treatment and growth opportunities more than compensations and money. However, it is also crucial for H.R.'s to maintain and analyse in-house talent before hiring new talented individuals. Efficient employees which comprise 20% of the workforce in India will be attracted to even SME's if the culture suits them well.