Ingenious HR policies
and practices to retain employees
Employees work in the organizations mainly for money
but apart from monetary benefits, an employee requires many things which boost
them to work with motivation and not to leave the firm. Employer faces a lot of
direct and indirect cost when employees leave the organization. These expenses
consist of headhunting a fee, advertising cost, loss of time and productivity,
experts’ fees, training and development expenses to new employers, work
imbalance. Apart from these costs, company looses goodwill and
important/confidential information of policy and project. So it is necessary
for organizations to retain the employee. The contemporary innovations have
started in the field of training, compensation, retention, performance
appraisal, global HR, stress management, e-HR, recruitment and selection. Many
new strategies and HR practices are executed to retain and make the employee
satisfy in the organization.
Innovative
HR practices
|
Name
of organization
|
Summary
|
Hours
that help- Donating leaves to colleague
|
Acceznture
India
|
Allows employees to donate their extra
leave to their colleagues who may need it in times of emergency
|
Allocating
special time for social media
|
Cognizant
technology solutions
|
The company provides its employees to
access social networking sites like as twitter, Facebook for only 30 minutes
in a day
|
Play
contests – get the job as prize:
|
JP
Morgan, Pepsico India, CEAT, Schneider electric and GSK consumer healthcare,
|
Case based simulation exercises helps
firms to gauge the research and analytical ability of students
|
Payment for
piercing company tattoo on body
|
Harley-Davidson,
Kolkata knight riders, IBM, Convergys
And
oracle.
|
Companies are giving fair payment for
piercing tattoo on body
|
Rewards
under staff referral plans, Prefer to refer
|
Directi
India, Smartplay, a technology service provider, Ola cabs, HSBC, Accenture,
Lenovo
|
Rewards
given are: Harley-Davidson bike and Volkswagen Polo car, European holidays,
i-phone, international holidays etc.
|
Forums-
Art gallery, infoculom
|
Infosys
|
Employees display their artwork and carrying various events and
activities respectively
|
Granny
Gratitude Day
|
ICICI
|
Happy soul at work evolves healthy
mind at work
|
My pay my
choice, Bouquet of Benefits, Flexi grade allowance system
|
P &
G, TCS, Asian paints, Wipro
|
Employee may want to take a certain
amount of cash or keep it in a company fund which will come with its own
benefits. Employees design their own pay plans
|
Mothers on
board, post maternity transition
|
HSBC
|
A month prior to joining, a certified
counselor establishes contact with the new mother to understand her state of
mind as she readies to come back to work. Their on boarding programme,
‘Mothers on Boar’, provides a work buddy to the new mother along with IT
support.
|
Matchmaker-
Putting a list of brides and grooms
|
Kendriya
Vidyalaya Sangathan
|
Company is trying to marry off its employees
using its own home page. Prominently displayed along with Citizens Charter,
Employment Notice, FAQs, etc, there is an icon, Martimonial, that takes you
to a list of employees - KVS' prospective brides and grooms
|
Rai University, Ahmedabad
- By Ashish Rami
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