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

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+

The ‘Wow’ Minister !!

One of the best thing that was trending yesterday on the internet was Sushma Swaraj’s return to Lok Sabha.

The one and a half minute video have the members of the Parliament greeting her return with a standing ovation. It warms up to see the Minister bow in humility and thank them in return.

This is the best example of dedication to service and the respect earned out of it.

Admirers of hard work find a Messiah in leaders like her, who defies every challenge to contribute.

She made her no-nonsense attitude and ‘On-the-Spot Solution’ orientation an order of the day. Great to emulate the ways of such leaders !

Will Maternity Bill affect hiring women?

With barely two days to the Amendment to the Maternity Bill , we have raging debates in the media with Deccan Chronicle and Scoopwhoop raising the burning questions. Will this put a check on hiring women? Would taking six months off from the work, make a women talent irrelevant?

Canada and Norway offers 50 and 44 weeks as Maternity Benefit respectively. Did that stop the employers from hiring women? Census reveals that by 2014, women made up almost half (47%) of the entire Canadian workforce! Same for Norway, where the women workforce make upto 47% in public and 26% in private sector according to a study released in 2008! Since the number of jobs and talent entering the workforce have increased, can we expect a bigger number by now? But then these are countries other than India. So let’s take a look at what is going to challenge hiring Women in the workforce:

  1. It’s anybody’s guess that the employer would hesitate from hiring a woman in the child-bearing age because of the added cost.
  2. The needs of a six-month old baby would be only slightly less than a three-month old one.
  3. So suppose the man is getting at least half as many offs as the woman is getting, won’t the employer be less biased against women?

Here’s my question to the employers. If you choose not hire women to save on your six-months salary, will that help your attrition cost too? Given the fact that women, especially when they start a family looks for stability, hence are way more loyal to men who would job-hop at the drop of a hat, would that still make hiring women costly? As an employer does it makes sense to hire a competitive talent who won’t resign for the next few years, for the conducive environment that you are building? More importantly, doesn’t the men in the same firm remain productive just because their wives were taking care of the child at home? And somehow the employers hiring those women are readily bearing the cost!

Secondly, the needs of the baby cannot be categorised so broadly. We live in a world where there are nuclear families. Not every woman can hire a nanny or house help to take care of the baby as she is away. Compared to earlier days, the support-system is down to the parent who needs to meet every demand for raising a child. How does then it makes sense to narrow the timeline for an infant? Especially in a country where mall nutrition in babies does not remain specific to any economic group.

Finally, were men waiting for the bill to be passed so that they can wash off their hands from the responsibility of an infant-care? In a country where ‘Dads changing nappies because Moms need to attend a business meeting’ is a luxury to few, how much does this Bill change the behaviour?

Back in the days, where the IT Parks suddenly tightened the rules on women security, there were similar doubts raised towards hiring women. Did that stop the number of women in the workforce grow? Similar costs were calculated down to every dime with the increase in hiring security personnel and adding video cameras for round the clock surveillance. Every challenge brings in a new solution, such as rise in the number of women cab drivers since the Uber incident.

What fuelled the change where fears met solutions? Did we hear the rise in the telecommute way back in 90’s? Inspite of the adoption of this work design, the resistance remains as the companies can afford huge work spaces to accommodate every employee. FaceTime and cubicle will remain in vogue till we have socio-economic changes disrupting them.

The Bill clearly mentions the option for Telecommute. However, that is being ignored largely, as the adoption of such systems will take time to become a norm. In the view of emerging work format, how does the Bill look like in the future? Would it allow a women to plan her career and family in parallel? If a woman needs to remain out of workforce for a declared duration, does that allow her to be up-skilled and plan for greater responsibilities? It would call for sponsoring such growths within the company. Is n’t the woman who is taking a break for child care, a wife to a man who could remain productive to his employer, just because she was at home?

Cyclic unemployment is norm, thanks to the repeated business cycle changes that we have experienced. This goes same for men and women. Losing a job due to diminishing revenue or policy changes no longer stops a career. Even men have to up-skill, relocate and network to find a new job! Companies have openly acknowledge hiring talent out of workforce.

In case such measures are not enough to meet the employment required, we have Gig Economy offering interesting jobs to build a promising portfolio.

Every benefit offered turns into a hygiene factor even before we know. How soon would this 26 weeks turn into a norm with no one even discussing about them, we will wait to see!

If you have any HR Query or any query on Future of Work, please email me nabomita@nabomita.com . Looking forward to learn more while finding solutions for you.

Recommended reading: Maternity Benefit , Diversity  , We Are Equal , Future of Work

Why should your pay remain a secret?

‘Pay Secrecy’ one of the best kept secret by the HR , which the world comes to know otherwise!

We have tons of research to support how it adversely affects your performance when you get to know how much your undeserving co-worker is getting paid. Is that the only truth ?

Does secrecy breeds trust or transparency? Why as an employer would you want to hide when you have a policy for equal employment and promote equal pay? Is the information of how much an employee draws worth sharing openly within the company or even public domain? In the times of Glassdoor and Payscale, how secret is your pay to your employees?

We can understand the ugly situation of explaining every employee why one is paid more than other, inspite of in-equal education or experience is sticky. More importantly your view of weighing a potential may not remain equate how your employees measure them. But shouldn’t that remain self-explanatory in a result-driven world?

How did Whole Foods manage to make the information salaries open? That too since 1986? They managed to let every employee view how they are stacked up and not loose them? Or run into low-productivity? Why are the talent working in their company behaving differently and not raising a storm in a tea cup with their questions on entitlement ?

In India, Public Sector organisation have grades declared with the pay range. Talents joining such an organization have the exact information on how the hikes would work for them and their peers. Even the timeline to all such hikes remains declared.

When Buffer declared their salaries on the web the number of job applicants grew effortlessly. SumAll followed the lead, with the firm creating transparency within the 40 member team.

With Gig Economy growing through platforms that allow a talent to bid for the gig, how far does the pay remains a secret? When end-result is the only measure, shouldn’t pay remain obvious? If merit is the only edge, how difficult is it to explain potential?

If you have any HR Query or any query on Future of Work, please email me info@nabomita.com . Looking forward to learn more while finding solutions for you.

Recommended : Future of Work , If Bots are taking away your jobs should they pay your taxes too 

Future Of Work

What is the future of work? Where is it ? What is it all about? Is it only about technology ? Telecommute? Is it about a new-age talent? Or is it about a new economy?

World Forum for Responsible Economy held in Paris, France last year discussed several areas that addresses the deeper questions about Future of Work. They broadcasted my 3-minutes speech or rather situations that questions !

Technology has been the enabler since the beginning of time. What is changing the world is the way we are using it now. It’s no longer about delivering more efficient products but delivering it together. The concept of silos are already a thing of past with collaborative tools to the likes of Slack.

Evolution of a product-development have given way to solution development creating a whole new dimension. Such as earlier communities were built around a product or a practice, essentially to build a loyal set of users or customers. Now we have products such as Walnut App or even Eko App with an inbuilt community.

The creativity to using technology is stemming from deeper practices which allows freedom and acceptance at a whole new level! PriceBaba allows their employees to buy their own cloud and use it while developing their product. Gifting MacBooks during Christmas have far greater impact on Employee Satisfaction than offering bonus of equal amount!

So is this evolution to the Future of Work about Technology or how talent is redefining it? What about talent? Is FOW all about the cutting-edge talent? DITS hires employers to own and deliver projects for client. Yes, talent is no longer an employee, but the employer creating far higher value. This emerging ownership to the deliveries is pacing up the learning cycles as well. Learning is not reduced to the size of a postcard , but rather 140 characters at the right time by the right set of people. Such social learning marks only the beginning to the deeper research entirely focussed on the product that needs to be built!

What do you predict? Where do you see Future of work?

 

#WeAreEqual : Disrupting gender bias

We have been adding to each other strengths . Together we have always grown stronger. Now is the time we stand together irrespective of any gender and claim our strengths!

A child as a girl is promising as a boy and a woman as resourceful as a man. It’s a shared world. With changing times and sensitisation , it’s brilliant to see both the genders owning each other’s growth.

Ministry of Women and Child Development , Government of India is communicating this powerful message through #WeAreEqual

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This, International Women’s Day, speak out – Join the change. Post your picture/ tweet using hashtag #WeAreEqual on @MinistryWCD

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Ms. Dia Mirza @deespeak proudly holds out her statement of equality. How about you?

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Post your picture/ tweet using hashtag #WeAreEqual on  @MinistryWCD This is what the nation has to say

Let’s hear your voice. Post your picture/ tweet using hashtag #WeAreEqual on @MinistryWCD .

Love these responses received so far!

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Join us and share your picture with your message on #WeAreEqual and tag @wcdministry . Tag me @nabomita_smiles on twitter as I wait to retweet you !

If Bots are taking away your jobs, should they be paying your taxes too?

Loved the blog post on TOI , adding a lighter note to the new age workforce or rather the absence of it!

Technology is weeding the repetitive tasks and activities that needs least human interventions out of the workforce. These tasks are delivered by bots. For example, the task of screening resumes with keywords are shortened by man hours using machine learning.

We already have Robot Lawyer being developed by Luminance ,  Xiao Nan a robot journalist and Sue the Artificial HR Assistant. The efficiency and the data analysis is essentially beyond human. Hence, the output remains desirable. 

Does this helps the revenue of a firm? Does this helps the remaining workforce? Would collectively add to the GDP? Well, that remains a distant dream, till we have data to support it.

More importantly, each time a repetitive falls out of a job , does it make space for delivering an intellectual one?  Of course we don’t have too many such job openings. Does this means we are calling for new jobs too ? As we are designing these bots are we designing a new workforce too?  Let’s not stretch this far into forming a new economy, or are we moving into one?

To conclude, if robots are taking away jobs, should they be paying taxes too? Or should we pay a convenience fees for using them? Or are we already paying that? 

If you have any HR Query or any query on Future of Work, please email me info@nabomita.com . Looking forward to learn more while finding solutions for you. 

Nabomita is the Founder to Nabomita.com. She is the 100 Women Achiever Awardee, awarded by Government of India , 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+