7 tips to retain the best employees in the company

building_workforce_plan_millennials-100592570-primary.idgeEmployees are the most precious assets of any firm. It is therefore essential for every company to retain the workers especially those who are delivering the best to the company. Other than good remuneration, there are other strategies which also develop the loyalty of the employees towards the company.

Here are some important tips which must be followed by companies to retain the best talent.

 

Tip # 1: Hire the best

This is very first step to ensure that employees are there for a long term with you. Analyze the record of the candidate in previous companies and make sure that the attrition rate was less.

Tip # 2: Avoid stiff regulations

Too many rules and regulations may give result in discomfort to the employee. As a result, he / she will start looking for alternative options where regulations are relaxed. So, it is essential to purge off unnecessary rules from the company.

Tip # 3: Give flexibility in timings

A modern day worker prefers working in a flexible environment where timings can be adjusted as per the comfort. This also boosts the productivity of the employee. Also, keep open the option of work from home for at least two days a week. You will be surprised with the loyalty of the employees to the company.

Tip # 4: Share achievements and policies

Every small or big achievement by the company must be shared with every employee. This can take place in the form of a small celebration in office or outside. Following this technique helps in developing a bond with the employees. Also, every policy change must also be circulated immediately throughout the organization.

Tip # 5: Special bonus for employees working for long time

There should be a policy to offer special bonus for those employees which are working in the company for long time. This will become a strong reason for employees to stay in the company for an extended period.

Tip # 6: Give them opportunities to learn

Ambitious employees love to learn more about their domain as it is beneficial for the career. Organize training sessions on regular basis where employees can get chance to develop skills related to their responsibility. Also, sessions related to communication skills, personality development and behaviouaral training must take place in the office on regular basis.

Tip # 7: Offer small perks

There are various perks that can be provided by the company which can ease the lives of employees. Some of these include free health checkup camp, discount coupon for groceries and tickets for some concerts etc. The employees will appreciate these small gestures by the company and will love to stay with it for extensive period.

 So, make sure that include a blend of these strategies to ensure that your competent workers stay with you for long and help in achieving the company’s objectives.

What is the secret of hiring top performers?

Outsourcing-Human-ResourcesIT arena is going through a paradigm shift as business leaders, stakeholders and IT organisations are redefining the use of technology. With increasing demands of today’s businesses, IT which was once entirely populated by highly technical professionals, is now morphing into a more flexible force of business savvy, client facing, commercially equipped IT Professionals.

Despite the on-going economic turmoil, the process of hiring high-performance IT professionals and managers becomes even more crucial. To manage projects, respond to market pressures and grow in today’s business world, companies are required to offer a comprehensive suite of system and software solutions that can help their clients scale their business and increase productivity. As a result expectations on applications have moved beyond data driven guidance, analytics, mobility and seamless integration across devices.”
Basically anything that makes the end user experience easy and visually appealing is what companies are seeking and to do that they need right talent.

The perception among prospective candidates seems to be that the sky has more shades of grey and that they shouldn’t even consider making a move. However, there is a demand for positions that require a mix of technological sophistication and commercial business acumen.”

Sixty per cent of executives in UK rely on short-term hiring strategies. They start looking for candidates only as openings arise. At this stage, the company or the recruiter increasingly approach candidates, mostly in frenzy. But hiring in this form often results in dip in productivity or performance. Often, this results in position being open again. There is a tendency for repetitive process which yields marginal results to begin with.HR Cult promotes talent warehousing and sees it becoming a very prominent part of every recruitment campaign.

Far too many companies are still not using the internship programs. A well-structured and closely monitored internship program can help build talent funnel for companies. Today young people are tech savvy and can write codes even before they finish school. If properly groomed, given right training, they can prove to be the right talent for the companies.
There is further a need for retaining the baby boomers in some form as consultants or project specialists or contractors. This sect of people come with plethora of knowledge, experience and have a lot to offer in a mentor- mentee relationship.

In these uncertain times, companies need strong managers who can lead others and enhance productivity.  Right talent fitment comes when the recruiter matches job role with the core competencies of the candidate profile – not by CV matching but by using their understanding of the requirement, client expectations and candidate profiles.

Is HR Ready For SAAS?

There is an amplifiePicture1d usage of Software as a service (SAAS) in business and it is becoming increasingly evident in HR software solutions as well. In fact, HR cloud applications are the third most popular applications (based upon a study conducted by Myhrtoolkit, wherein 32% of people interviewed stated they would invest in HR cloud applications for their business)

Flexible working is becoming increasingly acceptable in any organisational working environment. According to survey done by Institute of Leadership and Management, flexible working is being offered by 94% of organisations. This means increasingly there is a demand to access a company’s data from anywhere and everywhere.

So, what are the key drivers for selecting SAAS?

The focus of having SAAS system should be flexibility, ease of use and minimum interruption.  The good thing about having a cloud based system is massive reduction in cost. You pay on a per seat per user basis. The outlay is dramatically less than an on- premise license. It further has tax benefits at its treated as an operating expense.

Requirements of SAAS are enhancing with every passing year. No wonder there has been a buzz around SAP snapping up Success factors and Oracle Buying Right Now Technologies. Plus there are new vendors mushrooming offering comprehensive HR SAAS solutions which seem very lucrative for small and big businesses. So how should we go about choosing the right vendor? Data related to employees’ payroll, tax and benefits is crucial and therefore needs to be secure. Offline backups could be done but might result in increased breaches of corporate policies on systems.An important consideration of any SAAS softwareprovider is security of data that they provide. The focus and expectation of any client is getting the data instantaneously and being stored by the vendor securely.

Another plus for having a SAAS is scalability. Storage and usage is (theoretically) unlimited. If you have the budget and requirement, you can buy it when you need it. Success factors launched SAAS HR systems for Siemens in less than 6 months. It is no joke that with the launch itself, the system could handle 400,000 employee records and 40,000 daily logins. It goes without saying that you get SAAS for a robust online access all the time.

A good SAAS provider should offer a competitive price, and detailed project management plans on carrying out installation, updating and customisation of user interface and reports.SAAS vendors should take responsibility of managing software systems, fixing bugs and installing upgrades on a periodic basis (preferably monthly).Ideally, the SLAs should be fixed while signing Master Service Agreements. Meeting SLAs month on month can be challenging especially if the SAAS vendors are new to the technology.

A good idea would be to look at the detailed implementation plans and success stories for some of their recent clients before finalising a vendor. I am not saying doubt them but it is better to be prudent than sorry. My suggestion would be to know your prospective delivery team. Also, importance should be laid upon the accuracy with which delivery is made month on month for existing clients.If the entire software solution is not provided by a single vendor, then it is your job as a business to bring all vendors, your IT team creating clear communication channels at all times.

For successful implementation and running of a cloud based system, there should be clear communication between business, IT and operational team. This is for always being in line with achieving business goals and providing a robust system. The good thing about cloud based software is that as a business, you are less tied to a vendor or system. You can easily make a shift if you are not happy with the service.From employees point of view, place of work should almost become non relevant after a successful implementation. From users’ point of view, they should not feel any difference in the application’s look and feel.

It is implied therefore, that an established SaaS provider should be engaged. Although cloud computing has come quite far in last few years, it still has a long way to go- in terms of enhanced technologies and seamless integration but the amount of risk definitely gets reduced with an established provider.

Human Resource Management

hrdHuman Resource Management (HRM) is the function within an organization that focuses on recruitment of, management of, and providing direction for the people who work in the organization.

 

 

 

HRM can also be performed by line managers. HRM is the organizational function that deals with issues related to people such as compensation, hiring, performance management, organization development, safety, wellness, benefits, employee motivation, communication, administration, and training.

 

HRM is also a strategic and comprehensive approach to managing people and the workplace culture and environment. Effective HRM enables employees to contribute effectively and productively to the overall company direction and the accomplishment of the organization’s goals and objectives.

 

HRM is moving away from traditional personnel, administration, and transactional roles, which are increasingly outsourced. HRM is now expected to add value to the strategic utilization of employees and that employee programs impact the business in measurable ways. The new role of HRM involves strategic direction and HRM metrics and measurements to demonstrate value.