The role of the HR department has completely evolved over the last decade.
The HR department that exists today acts as a strategic partner and contributes to a great extent in the growth of an organization.
Below are the Top 6 Reasons Why Your Organization Needs Recruitment Consultants.
- Hiring Right Talent: Today multiple sources like giving advertisement in a newspaper, tie-up with placement Agencies, Internal Employee referral, advertising on Job portals are also at times not successful or sufficient in finding our Employable 100% fit resource. The amount of time just to find a candidate, Negotiation for salary, reference checks, and joining time.. all this takes more than two months whereas a person who has resigned gives only one month notice period. Many companies have started keeping notice period as per grade.
- Employee Retention: Gone are the days when employees would consider a job as their lifetime commitment. Nowadays even three to five years tenure is considered as wow. I feel the concept of 4 C ‘s i.e Compensation, Culture, Clarity and Career Path are key to retain employees. Many times the absence of even one of these can cause you losing a very good employee.
- HR Policy: The very basic policy like Office timing and leave policies are designed and implemented correctly, can lead to big-time productive change. The concept of allowing paid leave has a lot of time a big question to decide a benchmark whether to follow respective industry practice or what is as per statutory compliance as this directly affects employee morale.
- Compensation Plan and Benefits: an ideal compensation plan has to be meeting industry-standard, income tax-friendly, complete compliance proof, and retention tool as well. An employee does not get motivated just by monthly salary so few of variables which are performance-linked or tenure linked is highly advisable. Designing salary component one has to be very proactive to avoid all indirect burden of statutory obligation which is applicable from day one but payable during tenure or post-resignation.
- Performance Management System: Many companies follow different Appraisal System like 360 degrees, Bell curve, Rating thru PMS software, etc. These are different terms used. But what is generally observed that the basics are missing. The company is not clear what to expect from which position, how to convey expectations, how to monitor, and how to convey feedback of performance. It has to be planned full proof.
- Exit Process: Whether the exit is because of resignation or termination, it’s a little tricky to handle to keep the overall environment healthy. To have complete handover peacefully, computing legal dues, releasing clear service certificate, settling new joiners is not easy especially at times employee just disappear or stop reporting and send a simple resignation on mail.
The above are some main focus areas for HR dept to perform other than routine activities. Business owners or companies have realized the need to invest in the HR department and to hire perfect talent to take the company to the next level else forget about growth but even survival will be difficult if HR department will not be able to drive an entire organization.
Falguni Sheth. 9820234652