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