Gig Economy and HR Compliance

Gig Economy is on the rise with IT skills requiring professionals to work on project for shorter duration.  As reported by Livemint, the IT flexi staffing market in India, worth $3.04 billion in 2016-17, is expected to grow 14-16% annually to become a $5.3 billion industry by 2021, [Source: Indian Staffing Federation Report].

Most of the skills that are turning into jobs were not grouped as a job so far.  Tenured jobs are giving way to gigs.

As experts to the HR Compliance and Audit how would you manage this for an employer? The emerging skill groups do not have a clarity in terms of jobs. They are mostly work-based than designation or even salary-band based roles! Hence, which are the areas critical to Compliance that an employer must care for while hiring the Flexi-Employee?

Would the retirals be managed by the employee? If so, how ? How would the benefits be managed?

Join the discussion in here: Comply4HR

Deferred payment at Voonik: HR Compliance

Voonik , an online fashion brand has deferred the payments for its 200 employees by 3 months. As reported by Money Control, Voonik’s CEO and Co-Founder Sujayath Ali said those who will quit the company will get a month’s salary as the severance package. He added the company “is currently one or two months away from EBITDA (earnings before, interest, tax, depreciation, and amortisation) profitability.

Subir Chatterjee, Compensation and Benefit Head says, ” Help me to understand this better. The founder deferred the salary to achieve EBIT? So far I know salary is part of operating expenses, don’t they have to book the salary as future liability? Operating Earning comes much before EBIT.”

Pratik Vaidya, MD Karma Management added, “Very few organisation understand the value of human capital & asset rather than treating as Operating expense. Audited Companies that defer salary and other incentive payables & sheepishly roll back in future when their employee leave”.

Subeer Bakshi, CHRO Bajaj Allianz reflects, “Agree that it’s going to be problematic, but it’s a well-intentioned alternative to lay-offs. That’s laudable, and I hope the employees buy in!”

What impact would this have on HR compliances to be maintained in the company. How would the EPF contribution, ESIC if any, other Retirals and tax deduction be managed by the employer in such a situation?

join us for more on this => Comply4HR

Mental Health: A luxury or a norm ?

Yesterday a thought crossed my mind and I tweeted this !

And today my mentor shares this on LinkedIn

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Mental health should have been a course we must learn since Standard 1 ! Behaviours are based on how we deal with what happens to us. God knows when would any one stop considering ‘therapy’ as a luxury and not a life-skill that everyone needs to learn.

Years back I had enrolled for a course called ‘Positive Psychology’ by Talk Shop, delivered  by Dr. Mathai Fenn.

Interestingly the course wasn’t Tal Ben Shahar’s version , but an entirely new option to understand the tools that can make our choices broader.  Here’s what I learnt from the course. Go learn it for your self now 🙂

What I learnt from Positive Psychology Course

Imagine yourself, stepping inside your brain. Let it be like a large bright control room with a super computer, many monitors and speakers. There are cameras, mic and other receptors, that are constantly capturing information. Every single sound gets stored with a picture in your frame. There is a meaning which you may draw from each frame. The super computer stores this and encodes that meaning into a definite trigger. For instance when you think of Santa Claus, you may instantly think of Christmas, fun and happiness.  You may even hear the jingling of bells or carols. You may not revisit this frame, yet this affects you sub consciously. You may notice that, when you are giving gifts or you happen to in a benevolent mood. You might even end up referring to yourself as Santa Claus! You may not say ‘Ho, Ho Ho’, yet you would be able to refer to that same happy feeling or that euphoric state.

We have repeatedly realized that we are the result of our convictions. We may create positive statements, use possibility thinking, yet fail to achieve the result the way we wanted it. What goes wrong is, we move too fast from one step of processing information to another. Chalking out major information into firm steps holds the key. Suppose you join a course for Leadership development. You may have set goals for yourself such as, being able to explain the vision to your fellow members and bring them along with you. We understand you have a huge pressure to perform. In addition to it, you keep running out of time. You may constantly want to know, how soon can you get back to your office and start working. This is where your development process would stagger. In spite of having clear goals, the inability to chalk out and navigate from one step to another, forces you to jump into the result. This is how in spite of the repeated time management training program that your team attended, there was no unambiguous conditioning of their behaviour.  They continued to miss the deadlines.•

The brain’s programming screens, even the most minuscule syntax, identifying the correlation between the information and its trigger. This entails how even a minuscule change in this coding, if made, can create a multiplier’s effect. Recently, I attended a training session on Nuero Linguistic Programming – Strategies. This session was facilitated by Dr. Dorris Greenwood. It focused on identifying these strategies. A little background to Neuro Linguistic programming, it helps identifying the neurological processes that necessitate our response thereby behavioral patterns. This includes in detail the study of each reflex our brain transcends. A systematic application of strategies as discussed here can help in identifying those reflexes, hence fine tune them towards a desired outcome in the future. It was designed to identify a negative trigger. There were two situations, which were taken, one was about learning curve correction, and the second was enhancing the emotional intelligence. On a similar note, let’s itemize this, with situations, that you come across at your work.•

  • Learning Curve: NLP strategies could be used to enhance the learning curve towards any concern. The issue that was brainstormed entailed, how to attune our responses to create a better learning curve and get the result we want. This interests me as each time I take up a new concept, it takes a long time to decipher them, correlate them and finally implement them. Mostly there are a series of trial and errors which I require before, I can get the concept right. I have been reading about thin slicing. This helps, you to identify each section of what you want to learn. Thereby, correlate them to what comes easily to you. Ultimately use this acquired intelligence to implement the new learning. In a competitive environment, the result often gets measured by comparative rankings and ratings. This robs the leeway to learn. Furthermore, it may completely circumvent, learning many new concepts in a shorter period of time. In the worst case scenario, the learning curve transforms into a loop of relearning and practicing endlessly.
  • Emotional intelligence: This was identified as those points where we are just about to lose a winning game. For e.g.: You have allocated work for the next one month. A day into the new workflow and two of your employees go absconding. You discuss leave plans and a change in the workflow management, with your team members. Just as you have explained every limitation to them, they end up opposing you. They reject the workflow management as undo-able due to resource crunch with unavoidable reason for leaves. Your first reaction would reason it out. After a prolonged discussion, when you have shared logic to validate your point, you suddenly find your team members just shoving off your suggestions. You may not want it to run out of your hand, consequently, force it on them. This kills the entire process which you had envisioned in the first place. You end up being autocratic rather than a smart leader. Your work may get delivered, but you live in a constant fear of losing more employees due to such stringent circumstances.

Implementation of strategies

Cues are clubbed under different groups, including the visual, audio and kinesthetic. Kinesthetic includes the motor skills, which paces up the information processing. Each information stored as syntax coupled with the cues, creating positive and negative response. The loop is made by repeating this syntax. This results in a trigger. It is either positive or negative which saps the energy making you un-resourceful. The key to implement the strategy is to identify this negative trigger and replace it with a positive one. It proceeds with each visual, audio and kinesthetic concerning level for each cue. This means even the smallest information that you have probably ignored has been coded by your brain in such a way, that it attenuates a bull-whip effect on your learning cycle. The steps to implement the strategies include the following:

  • Test – Set your strategies into a script and test them.
  • Operate – In case the strategies set doesn’t show the result, creating a new metaphor and anchoring them to the script is essential. This includes re framing to an extent.
  • Test – Rehearsing the new script to find the perfect fit.
  • Exit – The goal to the process needs to be seen clearly. Dissociating at the point where the goal is achieved is essential to mark an end to the process.

Winning script for learning curve

  • Suppose you are learning something very difficult. What is the first thing that happens to you?
  • Most of the time it is nervousness and thoughts of when did you do something like this.
  • Now take a minute and try to hear or see when you are nervous.
  • Let’s take a case, where you don’t see or hear anything, you just get the feeling.
  • Just take another minute and step into a situation where you are about to learn something challenging.
  • Let yourself feel nervous. Just concentrate on what you see or hear.
  • You might hear a noise may be a constant noise and see objects such as stars.
  • Listen deeply, to what the noise is all about. Does the noise scare you?
  • Listen intently, how does it sound? Let’s assume it’s a constant beep.
  • Change that beep sound with chirping of birds or music- it could even be your favorite song
  • Listen to it for a while. If you need a positive statement, include it.
  • Just as you see the stars replace it with flowers- daisy and lilies
  • What is your favorite flower? If its rose, choose to replace the stars with roses
  • Now take a minute and move ahead, through each step to the end of the learning cycle. See yourself going through every chapter with confidence and added intelligence. Finally see yourself at the end of the course, with the desired outcome. It can be the merit grades you wanted or even an implementation of what you have learnt.
  • Picture yourself there, with the knowledge and wisdom you set for yourself.
  • See that you have gained and learnt all you could and are rightly capable of implementing it.
  • Look at the values that you are generating from what you have learnt take a minute and let this feeling completely seep into you, revisit this feeling, each time you decide to learn something.   Now choose anything, in the recent future that you will have to learn.
  • Repeat the process all over again.

Winning script for higher emotional intelligence

Similarly, use this script with a variation to increase your emotional intelligence. Step into a situation where your best intentions are being drawn out of proportion. Suppose you have just distributed appraisal letters. You distributed the best raise judiciously among the value creator and productive team members. However, just as they see their new salaries, they are indifferent. Their expectation was way more than what has been offered to them. They come to you and share their dissent.

  • Now take a breath and pause for a while. Picture yourself as Santa Claus or any other visual where you are happy with your employees. It can be the last team party you had or the sudden pizza party you declared. Visualize this. Add your favorite music and see yourself smiling. If you need a positive statement , include it.
  • Now return to your present state, where you have your employees speaking angrily. Look at them and see them as the human beings you have always valued. When you do this, observe what you say. The chances are that, you would remain calm and finally share the reason. They may or may not buy what you say, yet they would calm down as they listen to you.
  • Remember you cannot change other’s behavior. You can fine-tune yours. They may have situations forcing them to take up a role with a higher pay or move into their preferred location. Even if, the reasons are beyond your control, you will establish yourself as a leader of repute in their minds. If they see it more often, they would realize the benefits of working with a leader as smart as you
  • Try this now, in your mind. Imagine a future challenge and see yourself responding intelligently to it. Repeat the process until, every feeling of letting situations run out of your hands vanish. This practice, e.g. mindfulness would build your natural capabilities to respond in those situations.

Let us know, did it work for you? We are waiting, we have a mind to hear your experience!

Balancing Judgment and Discernment

The frugality of the situation and their inter-changeability remains the driving force to strategy. Even though, it is defined, as a set of planned actions over a period, to achieve the desired result.  Organization mirrors this, as the business target to reap the profit. The business goal percolates to every function, over arching with one organization goal. HR functions identify the people factors in this goal. The strategy set for the year drills down to individual functions connecting the business units. Connecting different requirements put the functions on the same page. For instance, the broad-banding of a strategy, such as building agility, would echo for recruitment with greater in-house expertise, where as payroll may require errors free, as its prime target.A case as shared as below in ‘Concern’, surfaces the tip of an Ice berg, with the challenges in Strategic HRM. This is a part and a parcel of talent management. Every organization aims to hire the best talent and retain them with best compensation. Hitherto, the gap between perception and reality edges employee dissatisfaction.

Concern: Recently we have hiked the salary of one of our employee after reviewing her overall performance. However, she is not happy with it.  She is been expecting more. Every day she reminds to negotiate an increase in her salary. Please help on how to handle this situation.

The case facts:

  • The compensation planning allocated hikes to each grade and rank, attenuated by the performance standards.
  • The employee is presented with the hike , which do not match the expectations.
  • Ordeal of negotiations for another hike lengthens decision making.

Looking glass

Logical thinking coupled with practical situations brings in the solution.  Three dimensions that attributes to strategy are as discussed below:

  • Goal Setting: The objective may be defined, as being the market leader by the next financial year. This is calculated in terms of business target. Mostly it’s an increase in the market share through either takeovers or increase in the production. This configures the goal setting for each function. HR functions for such a growing firm would strategise to designate responsibilities, to facilitate the expansion.
  • Budget Allocation: The sum total of the spending is divided into investment in terms of benefits and other operational expenses. Compensation is identified as the value returns on the services received from the talents. This is chiefly governed by the business requirement such as higher spending on research, leading to planning for larger markets share, amid higher supply chain. The HR budge would impact with an alignment to the market is weighed to offer a competitive compensation.
  • Leadership alignment: The backbone of the success to planning lies in the hands that delivers it. The leadership team designated to set the strategy and prepare budget are accountable for the business units.  The talent planning may be chaired by a CHRO , however the insinuations are contributed by the business leaders. Communication overarching the environment balances the transparency, strengthening trust.

Balancing Act

Judging a situation with logical findings would require a non-attached discernment. In our member’s case, different implications from three dimensions as discussed had lead to the dissonance. The disbursement of the hike matched the top-down judgement, but missed on the discernment.

Future of work
Future of Work
  • Individual perception of performance and result: A contribution by an employee is valued. It results with rewards when they were aligned to the organizational goals. Dashboards and performance scorecards actualise with grades for each contribution, to ensure the alignment. However, the gap of expectations widen when the employee in question weighs every contribution for a material reward. A pat on the back received for managing an expert escalation would culminate to incentive, if that escalation results with client retention and revenue returns. The excellence of the employee would be best utilized by an higher level responsibility, when appropriate.
  • Communication: The guidance to an employee reverberates intently, with the shared views and thoughts from it leader with appropriate feedback. Transparency calls for its price. It pushes the leadership to share the confidential often sensitive information. This rings the choice to jump the boat or follow the captain.

Pen-ultimately, the priorities of choosing and aligning will glue the individual to the entity. Solution to the decision maker remains in acknowledging the human concerns with judicial treatment through strategies and communication. Employee championship is intertwined with business partnering through change management and administrative expertise.

If you have any HR Query or any query on Future of Work, Employee Engagement, Talent management, Women Empowerment, Retention or Business Strategy please write to me in here. Looking forward to learn more while finding solutions for you.

Nabomita is the Founder to Nabomita.com. She is the Top 100 Women Achiever Awardee, awarded by Government of India , TEDx Speaker, Quoted on ForbesUS, one of the Top 20 HR Influencer in Social Media as declared by SHRM India and one among the Top 100 Technology Influencer in India. Connect with her on @nabomita_smiles , Facebook Page and Google+

This article have been published on Business manager , October issue 2015. This issue covers different areas of Strategic Management.

Being an Entrepreneur

Have you ever build a company entirely on your own, right from the scratch ? Does your story includes restarting , yet carrying your strengths from one venture to another?

When you look back at your journey, do you too find the dots connecting? Yes, you have a long way to go and that’s what the dots are guiding you to?

How were you as a child and how did that shape you? Were you an extrovert or an introvert? Will, I guess I was an ambivert and still remain so! Did the small incidences from your life shape your behaviour, choices and your life?

Did your lows and highs have a similar story that can match many around you? If you have taken the road less travelled, did it feel different or obvious for you?

If you had to summarise in three points what would it be? For me, its

  1. Curiosity
  2. Being ever-amazed
  3. Hard work, of course !

I was honoured to have been invited by Sampath Iyengar, Chief Visibility Officer at The Indian Networker, talking about who I am, my journey as a professional and few lessons that I picked on the way.

It was great fun as Sam kept asking witty question I was least expecting, putting me to my wit’s end!

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Interestingly few areas of my life that probably even I ignored, came up while talking to Sam. I must add, loved reflecting, in such a witty and a joyous way!

Let me know if your story sounds similar ! I am waiting to hear that.

Women as driver to growth in the age of driverless cars !

Where does women stand, in the age financial meltdowns, geo-political differences and AI? 1 robot out of 4 factory workers in Maruti. The numbers looks even more interesting in totality with 2400 robots at Manesarand 5000 facility. Are we still competing with men for jobs and seats at Premier Institutes? Where does this lands us especially when women have lesser access to education and finances?

India ranks 87th in Global Gender Report 2016 with highest participation of women in education and health sector. Does this set any target for us?  The report further showed that the highest level of penetration remains in the Education and Health sector with fewer women in Technology and Policy making !

With equal participation we can add upto 28 trillion by 2025 which is equal to a combination of US & China’s economy . So what do we need to build this equality ? What are the building blocks that can affect growth ? Law and order , financial independence and education?

These are few laws worldwide that instils sexism so deep that imagining equality remains light years away! When we restrict women legally how does it impact her participation socially rather financially?

 

World Economic Forum reports women remain unpaid for 50% of her productive time at work. How does this add up to her pay?

Global gender index shows Iceland, Finland and Norway tops the chart and not the leading economies! Why is it so? Is it the access to education and policies at work that makes it happen? Few days back when Maternity Benefit act was amended in India, we had people worrying about women no longer being hired. Norway offers 44 weeks of maternity leave. No wonder they have 47% of women participation in Public sector and 26% in the private sector! When we have family friendly policies at work, we are no longer forcing a women to choose between family and work

This tweet sums up the support , policies, access to education and finances that we need! Here we have an young woman as a pilot to Air India taking the same official commute with her mother who works as an air hostess! This organisation isn’t a nimble-foot startup. It is not a super funded private company with loads of money to spend. Yet, that’s how strongly they have been balancing diversity.

40 economies that participated in Global Entrepreneurship monitor reports women Entrepreneurship rate rose by 13% whereas it was 5% for males. However in India , the perceived opportunity for women is 41% compared to their male counterparts. Anusha, who celebrated her 25th Birthday recently pitched her second startup to me. And she is not in Bangalore or Mumbai but in Vishakhapatnam. Her first startup is running successfully in association with Andhra Pradesh Government. According Deloitte report, Millennial women are bridging the gender pay gap. Are we planning anything to bridge the financial gap for the ageing women workforce too?

Where does the empowerment needs to happen? Anuja Shukla, head of Google for entrepreneur runs a project on her on own where she gets girls from age 8-15 to code. Revathy Roy , founder Hey Didi , formerly Vira Cabs, have trained more than 10000 women from socially backward classes to drive. She created employment for them through her startup. She empowered them to own their vehicles and earn out it, offering loans from banks with no collateral. Urvashi Neogi runs her profitable Event Management firm, Biz Integration with her Geographically based team. She doesn’t need a 9-to-5 at an office with face time from her team members.

Here’s a research by Adobe on Future of Work which says, future lies in collaboration and diversity of skills. So what does this imply? In the age where commitment to the work and the speed of delivery remain the only measure at work, do we still need the archaical work design? Would the jobs of tomorrow offer women more potential to deliver? Will the organisations of tomorrow have the bandwidth to build the leaders of tomorrow irrespective of gender?

If you have any HR Query or any query on Future of Work, Employee Engagement, Talent management, Women Empowerment, Retention or Business Strategy please write to me in here. Looking forward to learn more while finding solutions for you. This have been re-blogged from nabomita.com

Nabomita is the Founder to Nabomita.com. She is the Top 100 Women Achiever Awardee, awarded by Government of India , TEDx Speaker, Quoted on ForbesUS, one of the Top 20 HR Influencer in Social Media as declared by SHRM India and one among the Top 100 Technology Influencer in India. Connect with her on @nabomita_smiles , Facebook Page and Google+

‘Brand You’ works: My journey through building my own startup

Almost a decade back, at XLRI , Dr. Mathai Fenn taught us ‘Brand You’. When he said employers will hire you for who you are , we heard it as a theory. He defined , that the services you deliver and the value you create, is your brand. And that alone can get you around the world!

Today, I write this to share how this worked for me inspite of all the Financial Slowdown, Geo-Political changes and Robots taking away our jobs!

It’s been a great year ! And I am writing this to thank everyone who have been contributing to my success. It’s still feels as if it was just yesterday when I started on my own! A dream that I wanted to live but never knew would happen to me.

Almost an year back, I started working for me. Yes, I was finally the boss I wanted to be and work for 🙂

Initially, I had no plan for what I would want to deliver. There were many options to explore and I believed things would shape up as I would go along. It will remain one of the best decision I ever made!

I never knew what I did had any monetary value to it. I love building communities, connecting businesses, identifying solutions and delivering them. I feel strongly for causes I have been working for. And, I loved speaking about them. Initially, I couldn’t imagine it to be a profitable venture, till I had companies actually looking for it! It has been an exhilarating moment, each time I found a business house quoting a monetary value. The magic of getting paid to speak is immeasurable to me!

Evangelism arrived for me professionally! I had never imagined it would. I never knew the impact of what I did, till I started doing it for me!

Few of the most cherished moment have been speaking at the Think Tank by Adobe, and researching on Future of Work and presenting it in San Francisco, addressing World Forum for Responsible Economy by RESPCO Institute in association with French Government, delivering my first TEDx Talk at TEDx Bocconi U Mumbai, delivering Faculty Management Program at Rajagiri Business School, delivering the Keynote to more than 5000 delegates at E-Summit in Hyderabad, Inaugurating India HR Summit 2016, Inaugurating and delivering the Keynote at International Convention at SVIMS and many more!

I have been working with amazing business leaders, who have not just added on to my experience but even mentored me! I can not thank enough to those people who went beyond commercials to Special thanks to Ministry of Women and Child Development, Dr. Nanu Bhasin, Dr. Jessy Fenn, Mandar Joshi Executive Director TiE Pune, Vishwas Mahajan Trustee TiE Global, Urvashi Neogi Founder Biz Integration, Chitra Narayanan and

I can’t thank enough SHRM India for naming me in their Top 20 Influencer in the country and Indian HR Convention for celebrating my work. It was a joy beyond measure seeing Nabomita.com mentioned in the Ecosystem Partner to TiECon Pune!

Building a firm is all sweat and blood. But then its all worth it, when the world celebrates it with you ! The pain and challenges I went through seems small when I am acknowledged for my efforts. Thank you and cheers to every such moment !

If you have any HR Query or any query on Future of Work, please write to me in here. Looking forward to learn more while finding solutions for you.

Nabomita is the Founder to Nabomita.com. She is the Top 100 Women Achiever Awardee, awarded by Government of India , TEDx Speaker, Quoted on ForbesUS, one of the Top 20 HR Influencer in Social Media as declared by SHRM India and one among the Top 100 Technology Influencer in India. Connect with her on @nabomita_smiles , Facebook Page and Google+

How would you deal with Substance Abuse by your Co-Founder

I run a small, IT Firm, rather a startup. We do not have an official HR department. Just me and one other person in the office. I hired a friend of mine about a year ago. I know this was a bad idea. Things have been going fine until she relapsed. This was first time in 2 years, she had been on the up and up. She almost died from a heroine overdose, and they were able to bring her back. My question is, what do I do. Obviously we are a drug free work place. To be honest she didn’t tell her boss about the overdose, but the friend in me, she had known for over a decade. Plus, would this fall under the Substance abuse at work? I don’t want to make her life harder than it needs to be, but I also know that I have a duty to my clients. So confused!

First and foremost kudos to you for taking care of the person involved and getting her the right kind of medical support. Please ensure she gets every care and counselling that she may need to claim her strength back .

How much of a work have you allocated to her? Is that crucial ? Would you be able to manage it on your own ? Would it be possible to train someone to manage her area of work till she is recuperating?

Please mitigate every risk at work and ensure you leave no thread open. Do calculate the cost you may have to incur during this. The more you prepare meticulously, the better you would be able to deal with it.

Now let’s focus on the issue at your startup. It needs an HR Department as early as possible. Please hire an HR consultant and design a Code of Conduct along with every policy manual. Clearly define every defect and its repercussions. Point out the steps to be followed in case there is any non-adherence. Please maintain a zero tolerance to every non-adherence. It doesn’t need you a big team to put Code of Conduct in place. You can start framing it, even if you continue to remain a small startup. Please include guidelines such as the one mentioned in here!

“To work effectively, all of us need a healthy and safe work environment. All forms of substance abuse as well as the use or distribution of drugs and alcohol while at work is prohibited. Unless required as part of your role (for instance for security personnel where deemed necessary), possession and / or use of weapons / firearms or ammunition while on business of the Company is prohibited. All of us should be safe at our place of work. Should you observe any unsafe situations at work, please reach out to the Helpline. “

You work with clients who might be trusting you now, but can ask for an audit at any point of time. Hence, tie up with any back ground verification firm and get every detail checked and validated, including Police and Medical clearance. The more you keep yourself closer to the rules, the better you will sleep at night!

As for your friend, please let her regain strength and wait till she is free of every substance abuse. Please remember it is not about you or your company, but she and her entire career. If you have been her friend for a decade, you are the best person to help her out. In case she is ready for a rehab, please consider one. Every addiction have a treatment. Please consider signing her up for one. Explain a strict action now will save her life. I am sure, you are the best judge on how to convince her. Wish you all the best!

If you have any HR Query or any query on Future of Work, please write to me in here. Looking forward to learn more while finding solutions for you.

Nabomita is the Founder to Nabomita.com. She is the Top 100 Women Achiever Awardee, awarded by Government of India , TEDx Speaker, Quoted on ForbesUS, one of the Top 20 HR Influencer in Social Media as declared by SHRM India and one among the Top 100 Technology Influencer in India. Connect with her on @nabomita_smiles , Facebook Page and Google+

An Odd task of preparing a Compensation Report for a small firm

“I’m the HR Executive to a small to mid-sized firm. I get asked a lot of odd tasks. Today topped the cake.

Management decided full time employees are taking way too many of their paid sick days. They also wanted to know the pay, benefits, down to every incentives offered to such talent bands. I suppose they want to be armed with some information regarding what other employers in the area offer. So they have me cold-calling Companies, consultancies and other employers with similar talent pool to get a consensus. 

It’s been pretty difficult getting this information, which is pretty much confidential. I was wondering what your opinions were on this task in general, is it really useful to them to know what other employers are offering? Is there another way I could go about getting this type of information?”

Congratulations on this initiative. No matter how odd this task may sound, it will empower you with valuable information with regards to compensation and benefits. Let this be your very first Compensation Benchmark activity at a small and a manageable scale!

To begin with there are reports on Compensation with bands and designation for every sector published by Aon Hewitt, Mercer to name a few. Top firms such as Willis Towers Watson and Michael Page can offer insights on the design. But then, these reports are costly. A salary survey would offer a comparative data on where the pay structure within your firm lies. Glass door and Payscale would offer you a broad over view to the pay range . If you research enough in the comment section for each firm you might be able to even gauge how far the benefits implemented. Job advertised on LinkedIn Monster , Naukri and IIM Jobs can share more data on the existing opening.

Segregate the data for every band, level, and designation in your firm and compare it to what your competitors are paying. Stay focussed on your region unless you have a Pan-Indian presence or hire out-station candidates. Factor in the education level and experience in years required to deliver the job. The standard of living for the cities where your firm have a presence needs to be considered.

Once you have your report ready, validate it within your HR network. Confidentiality is important, hence respect someone’s choice of not responding to you. You may try and validate the data through the employees to the firms in your sector.

Once you have every single data validated by at least 3-5 individuals from each firms, you should be good to present the report to the Management Team at your firm.

Be prepare with questions on valid the data is and how do you make it relevant within your firm. Prepare a plan to suggest the changes that needs to be made to optimise your current pay structure and benefits. Suggest a few measures to be taken during implementing the new plan. In case you are not completely aware of the Minimax calculation , consider involving an external consultant or an expert. Wish you all the best !

If you have any HR Query or any query on Future of Work, please write to me in here. Looking forward to learn more while finding solutions for you.

Nabomita is the Founder to Nabomita.com. She is the Top 100 Women Achiever Awardee, awarded by Government of India , TEDx Speaker, Quoted on ForbesUS, one of the Top 20 HR Influencer in Social Media as declared by SHRM India and one among the Top 100 Technology Influencer in India. Connect with her on @nabomita_smiles , Facebook Page and Google+

Are Interviews a good way to hire the right people in an organisation?

I love this question as it highlights every blind spot, that turns a deal breaker for the new talent to survive in an organisation. However, is Interview a good way to hire ? Yes you have the best of the processes to filter talent initially on the basis of acumen through General Assessment, which includes Quants, English and a Psychoanalysis Test. There are 30 or 50 questions in each section to asses the threshold skills.

This purely clarify the skills to effectively respond to those areas within a short span of time. Then follows the initial rounds to test the specific skills for the role. For the roles in IT , its the Technical round with Practise Managers interviewing the candidate either on phone or in-person. The only skill is tested on this round is technical. It works the same for the Support functions be it HR or Finance. Once the Practise Managers give a green signal, it moves to the Hiring Manager. For a mid-level role , it could be the direct Reporting Manager. In case of a bigger scale, it is often the Team Lead or Manager.

A standard process such as this, ensures the best pre-wiring of the pitfalls that can cost you a bad-hire. But will that alone save your firm from a bad-hire?

I have been through numerous process of hiring, where in, I was included in a dialogue with the leaders within the organisation and their teams for months. There was no promise of hire, but rather, offering a rich conversation. It was only after a long right-fit activity , I was hired. I must say, those were few best roles I worked at. I know several organisation owners, who allows the candidate to identify the fit rather than assessing them. Yes, its a reverse approach to make sure the candidate willingly take up the role knowing every pitfall. I even know firms that allows a candidate to intern at a role before being hired for it.

A startup I know works in an agreement with what the candidate agrees to deliver in what point of time. The roles and timelines are closed on that. Needless to mention, it decides the pay package too!

Crowdfire, created a community with meet-ups for designers and System Thinkers. The brainstorming during these meet-ups not just brought up newer ideas for the product and trouble shooting the flaws, but also created a rich talent pool to hire when need be!

The downside to such a process is speed and time. Hiring requirement with a strong TAT or an urgent back-fill won’t be able to contemplate this.

Hence, coming back to the question, does interviews bring the right people to the job you are hiring for?

If you have any HR Query or any query on Future of Work, please write to me in here. Looking forward to learn more while finding solutions for you.

Nabomita is the Founder to Nabomita.com. She is the Top 100 Women Achiever Awardee, awarded by Government of India , TEDx Speaker, Quoted on ForbesUS, one of the Top 20 HR Influencer in Social Media as declared by SHRM India and one among the Top 100 Technology Influencer in India. Connect with her on @nabomita_smiles , Facebook Page and Google+

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