Employees are indeed the back bone of any organization. The growth and success of any organization are decisively influenced by the commitment and loyalty of employees towards their work. Organizations are not leaving any stones unturned to ensure a work environment that will charge up employees to offer more of their capability and potential. Thanks to Millennials (or Generation Y, Kids born between 1980’s and 2000) who have redefined the role of employees from a mere task doer to a brand advocate of the organization for clients, users and customers. By 2020, these Millennials will make up about 35 percent of the global workforce, and it therefore makes sense for business owners to consider how their employee benefits need to change in order to attract and retain this talent.
Companies were only concerned about hiring the best talents on board for a productive business some time back. Over a period, things gradually changed when millennials became the dominant work force who unlike their previous generation, won’t get satisfied with a mere comfortable work place. Excitement at work and scope for creativity became a crucial factor for companies to get best talents onboard.
Work places started becoming more jovial with open office culture, vibrant office space, office parties, best packages, special perks, flexible work hours etc. Though these have managed to attract Young talents, HR had to find newer solutions to retain them as the immature talents group were job hoppers who get attracted to every glitter they see.
Employee engagement, Reward and recognition etc. are a few terms which started garnering so much attention recently. This has enhanced HR’s role to something which is much more than recruitment and pay roll, thanks to digitization. The digitization of pay roll, documentation, RNR etc. has allowed HR to investigate other components that will ensure utmost satisfaction at work place for most valuable employees. These have given much more human touch to HR activities at work place.
- HR Surveys
HR surveys conducted frequently will help HR’s and Managers to understand the satisfaction level at work place, where they must fix, streamline things and assess how well aligned the employees and employer are. For those employees who don’t want to directly open about the problems can also share their genuine view in an anonymous survey which has gained popularity recently.
- Make the employees feel that the companies do care for them.
Offering a competitive package may not always ensure utmost loyalty of employees towards the company. The companies should stand for the wellness of the employees. Providing health insurance coverage for employees and family, extending a small gesture of appreciation on the special occasion of employees like Birthday, anniversary, parenthood etc. will leave the employees emotionally connected with the organization. A flexible working hour and leave policies will gift the employees a perfect work life balance. The work would be more of a commitment than a liability for the employees who would be happy and satisfied at the work.
- Opportunities to showcase their talent at work and outside work
Competitiveness has always been projected as the best way to bring out the best of talents and capacity. This can even make impossible tasks possible like a tortoise winning race with rabbit. The strong link between recognition and improved performance has been highlighted in a lot of studies. Timely employee appreciation of good work is a catalyst for increased engagement, productivity, motivation, performance and retention.
- Contribute for employee development:
The world of business and technology is ever evolving. Having the best talents would not be enough alone to meet all the growing business requirement. HR’s can contribute a lot to up skill the employees through training programmes, interactive sessions and work-shops with experts etc. This will not only fine tune the employee to meet the company requirements but also empower them to face challenges in future. This will act as a driving force for productivity, motivation, performance and retention.
- Facilitate a work environment with open communication between employees and management.
The HR’ can conduct regular meetings with employees and senior management which would be an ideal platform for the employees to share their ideas, challenges and concerns. The company can be as transparent as possible by opening about the achievement, business goals etc. as this will keep employees mentally and emotionally committed to company goals. HR ‘can opt for an open-door policy that motivates the employees to speak up without any hesitation and this will develop a sense of belonging for the employees.
- Benefit reliant on technology
In today time employee want employee benefit information 24/7, much like they turn to the internet for every other thing they need to learn. They indicated the need for mobile apps that include access to benefits tasks and information. Organization should make systems in such a manner that employee should get all information about the benefits online. Many organizations are start developing mobile apps for the same.
- Plain language and simple benefit terms
Today’s employee look for plain and simple terms when it comes to corporate policy, including employee-benefit information. They do not want to read through complex documents and forms to learn about their benefits. Instead, they want direct and to-the-point information delivered on-demand at all times.
- Career that really make differences
In recent survey is advised that millennial are keen on making a real difference, and while they are pro-business, they believe in making career challenging with having fun element into it. They develop strategy in such a manner that there vision is achived.
According to Sonday “It is critical that employers look at their employee-benefits offering to ensure that they remain relevant in attracting talent, to ensure the continued success of their business,”