Need Of The Hour For Corporate Is To Implement Better HR Practices
Organizations also need to make sure that they implement policies that not only protect women against harassment and discrimination, but also safeguard their interests
Photo Credit : Ritesh Sharma
It's not easy to keep employees happy and satisfied even under the best of circumstances, but to do so when the employee turnover rate of organizations is at an all-time-high is an even more daunting task. Among other things, the key to any organization's long-term success lies in its employees staying happy and its employee turnover ratio being next to negligible. As such, it becomes absolutely essential and the need of the hour for organizations to implement the best HR practices. Doing so not only helps an organization run more smoothly (after all, achieving greater employee loyalty should always be a priority!), but it also makes business sense as the practice of hiring new employees is always going to be more costly than retaining old ones. Simply put, ensuring that employees stay loyal should be the numero-uno priority for any organization planning on becoming (or continuing to stay) successful.
So what exactly are these HR practices that organizations need to start implementing, if not outright enforcing, within their organizations? Well there are a variety of them, but almost all of them have one common element that binds them all together - ensuring and maximizing employee satisfaction. So first and foremost, all organizations need to be striving towards creating a rewarding environment for their employees. If the employees of an organization are aware that their hard work is going to be constantly appreciated (and rewarded), they will be even more motivated to put in their optimum performance - they will strive to be more creative, will show more leadership qualities and will naturally become more loyal towards their organizations.
If I were to be more specific, then there are many different benefits and policies that the HR department of any organization should think about implementing to achieve this. To begin with, good annual increments, performance bonuses, and ensuring extra-pay for extra-work (working overtime, working on weekends) will go a long way in making employees feel like their hard work is being appreciated. Secondly, helping employees understand that their health is a priority is highly advisable. As such, providing healthcare and dental insurance seems like a no-brainer. One very important aspect is to look at the psychological health of the employees and stress management sessions may be by engaging a trained professional counselor with whom employees can share their views and take advise if needed on professional interpersonal relations or even personal matters. Employee who is happy at work will be happy at home and vice versa. Hence, conducting on-site dental/medical/eye check-ups, conducting life-skill and mental health workshops and holding sessions on meditation and yoga will also help the employees.
Employees should be encouraged to participate in marathons, competitions, drives outside the organization to encourage them to have a healthy lifestyle. In addition to this, following a five-day working policy, providing transportation services and conducting occasional team-bonding activities (team lunches, common yoga sessions, meditation sessions, competitions, office parties) will go a long way in boosting employee morale and creating a positive working environment.
In addition to this, organizations also need to make sure that they implement policies that not only protect women against harassment and discrimination, but also safeguard their interests. Needless to say, all organizations need to offer maternity leave to their employees, along with having a strict code of conduct that protects women against harassment of any kind. Additionally, ensuring that women employees are paid equally as their male counterparts will also go a long way in ensuring that women employees don't feel shorthanded or exploited. Women who have taken a break must be encouraged to get back to work and there are companies who are doing an excellent job by providing facilities like flexi timing, creche facility for such women. Finally, providing workplace facilities like an office gym, free lunches, may be a grocery and utilities shop in campus/ office premises and monetary benefits (such as employee discounts) will only end up making any workplace a lot more desirable to work for.
One of the very important facts is constant reskilling requirement that is the need of the hour. Especially in IT Industry, we find that a skill that was in demand like hotcake couple of years ago might be obsolete by now. The employees who have crossed the age of thirty-five or forty are now becoming more vulnerable and insecure in the organizations and it is affecting their loyalty towards the organization as they are constantly looking for new opportunities. The middle and senior management is more trained and experienced resource and hence the corporates must try their best to retain them. Cross Training and Reskilling them is a genuine requirement that corporates need to look at. The role of HR here is important since demand forecasting mechanism needs to be worked out by senior HR team along with the top management to ensure that employees are trained and up to the demands.
A very pertinent observation is when employees stay in the organization for long time, sometimes they are ridiculed by some of the colleagues stating that they have nothing better to do hence they are here. This attitude must change, and the organization must constantly reinforce the importance of such employees who have shown continuity by rewarding them in front of all other colleagues and juniors and management team, reskilling them if necessary at regular intervals to keep them relevant and agile and helping them to add better value to the organization by motivating them. This will change the perspective of the so called new generation of young employees who tend to ridicule such old timers as they call them.
Simply put, by implementing these policies and practices it'll become a lot easier for organizations to buck the recent trend of high employee turnover rates that is plaguing most corporates. And as it also makes enormous business sense, it's a win-win situation for one and all.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.