Top employee retention strategies

Top employee retention strategies

Employees are considered as the backbone of a company and they play an important role in the development of an organization. If an organisation needs to flourish it will require a team of efficient and productive employees. Employee retention strategies include policies adopted by companies to reduce the turnover rate or lower employee attenuation to a considerate level.

Why are employee retention strategies essential?

A well-described employment policy along with a healthy environment is essential to give a morale boost to the employees. Higher rates of employee turnover don’t only impact business productivity but also hampers the workplace culture. Moreover, the company may incur a lot of expenses in filling up the space of the departed employee. Permanent staffing companies in India are well equipped to provide ideal employees to match the company profile. 

Employee retention strategies

This article describes some of the best employee retention strategies that organizations can adopt in 2021.

  • Hiring the right people

The uprising of a company begins with hiring the right people who fit with your company’s culture and are aligned with your organization’s goals. Hiring top talents not only increase the company’s performance but also boosts employee morale. Staffing companies in India have established a thorough recruitment process that helps employers to hire the right talent. 

  • Advanced onboarding process

New employees want to be valued by every member of the organisation. Once the recruitment process is done, the managers must ensure the onboarding process is exciting and engaging. An advanced onboarding process also helps to generate trust among the newly hired and the existing employees. Digital on boarding is one of the best ways to combat the current situation and make employees well acquainted with the company and its policies. Digital onboarding has set a new pathway by overcoming the traditional challenges and streamlining the hiring process.

  • Conducting career development program

Organizations must regularly conduct career development programs. Career development programs are one of the best strategies for employee retention. The managers should conduct one-to-one meetings with their team to get proper feedback. Such programs will lead to understanding whether their goals are being met, and also check if any progress is being made. Even in today’s new way of remote working managers must take the time to understand the strengths, weaknesses, capabilities and skills of the employees. It will help them to find out the areas of improvement to draft their training schedule.

  • Give more positive feedbacks

Work from home is a different ball game. It requires smart and efficient communication between managers, team and people across the organisation. Monitoring, scheduling is crucial for work from home. It demanges regular communication as well as optimum vigilance between managers and teams. Managers or business owners should make sure to give positive feedback to motivate their team. Positive feedback can include appreciation mails, handwritten notes, communal praising, and many more ways that boost their productivity as well as dedication towards the company.

  • Work-life balance

The global pandemic has caused great unrest and has created uncertain ambiguous situations. Working professionals find it difficult to cope up with the blurring lines between work and personal life. To retain the job position, combat the situation and secure the future an employee must maintain a balance between personal and work-life. The company must provide its employees with flexible working hours or work from home scenarios to maintain this balance. This balance, in turn, helps the employees to concentrate on their duties and increases productivity. 

  • Respect ideas and thoughts of employees

No matter if the staff is permanent or temporary, the management should always give a chance and an open environment to employees to share their ideas. Not only will their input make them feel valued but also give them the zeal to work harder. This will in turn impact the employee retention at the organisation.

  • Build a reward program

Building a rewarding system will help the employees to understand that their hard work has paid off. They will feel appreciated and thereby have a positive perception of their workplace. 

  • Offer an alluring base salary

The employees must feel like their hard work is being appreciated. The companies can offer attractive base salaries that will make the employees feel valued for their time and effort. 

In India, several staffing companies provide excellent staffing solutions. Whether looking for temp staffing or a more permanent solution, these HR staffing corporations can do wonders. Hereby, it can be stated that the profit of a company largely depends on the professionalism and proficiency of its employees. Employee retention can help to acquire the desired stability in these unstable and difficult times. It can streamline the work and inculcate great confidence in the employees as well as organization. Companies must incorporate newer strategies and adopt advanced techniques to retain their employees and stabilize organisational working. After all, employee retention is the key for success of any business. 

5 Proven Ways to Speed Up Your Recruitment Process

5 Proven Ways to Speed Up Your Recruitment Process

Recruitment processes can take up a lot of time. Some recruiting consultants prefer conducting a long thorough process which has its advantages as well as drawbacks. Recruiting through a long process helps to create a bond and understand the employee better but also delays filling the void position. Moreover, long hiring processes may result in losing good candidates to other companies. Thus, a fast-tracked and efficient process is favorable to suit today’s fast-paced hiring scenario. This article lists some of the best ways to speed up this process.

  • A concise job description

A detailed and well-written job description is the first step to speed up the recruitment process. A vague job description may lead to a large influx of invalid candidates’ resumes which will take up days to sort. Making the job description precise will attract only the eligible candidates worthy of that position. Make sure the job description is well-detailed and concise by using bullet points to denote the roles, responsibilities, and also required qualifications. If it’s too long, candidates may lack interest in reading the entire thing. So, speed up the process by making the job description on point, detailed, and concise.

  • Reduce the steps of the hiring process

Another major step to speed up the recruitment process is to reduce steps thereby simplifying the hiring process. Personal interviews are essential in this process, but conducting numerous rounds will just delay the entire process and reduce the interest levels of candidates. The fastest way to speed up is to conduct a proper screening of resumes. Also, you can use other modes of screening like phone interviews or web interviews before having a face-to-face one. 

  • Get professional help

Managing the recruiting process can be a tedious job. Also, many organizations struggle to find the correct candidate despite their time and sweat. Irrespective of the size of your business, you can avail of the services from certain recruitment consultants. These consultancies are loaded with talent to provide professional help. By using technologies and the best hiring strategies, these consultancies have professionals who can streamline and speed up the whole process.

  • Make use of job boards

The perfect way to reach a maximum audience is through advertising on several job boards. With the onset of the digitalization era, a large number of people stay online. Recruiting services can be fast-tracked if these portals are used efficiently. Recruiters using a correct job board will not only get an error-free screening process but also be able to hire the right candidates. 

  • Make hiring a priority

In many cases, it is seen that companies may not have a proper hiring board. Employees shift roles and manage multiple positions. This can hamper and delay the hiring process. There should always be a well-trained professional team specially allotted to do this job. One can also hire outsourcing recruitment consultancies to do the needful. 

Certain consultancies offering recruiting services waste a lot of time to find an ideal candidate. Thus, if outsourcing this role, it is essential to employ the best recruitment consultancies who are efficient and provide rapid service.

Why Should Businesses Outsource Their HR Services?

Why Should Businesses Outsource Their HR Services?

 

What is HR Outsourcing?

 

It refers to the process of obtaining services of third-party vendors to operate chosen human resource functions of an organization which may include employee management, compliance management, payroll processing, and recruitment. It has turned out to be an effective cost-saving strategy for those companies, especially small to medium-sized businesses that cannot afford to maintain a full-fledged HR department. Companies may outsource selected functions or their entire HR operations based on their requirement. 

 

Key Benefits of HR Outsourcing

 

1. Cost Savings Through HR Outsourcing 

 

Maintaining an in-house HR department can be quite costly, especially with the recruitment of experienced workers, training those workers, and keeping the human resource systems up to date. The outsourcing of such areas-particularly payroll outsourcing and compliance management-reduces costs associated with staffing, training, and technology investments in human resources. These firms usually offer flexible solutions designed specifically for your needs so you’re only paying for what you’ll actually use. 

 

2. Improved Compliance Management and Reduced Legal Risks 

 

Among the major HR risks is maintaining a company in compliance with labor laws that keep changing. HR outsourcing companies are specialists in legal compliance, and thus, with them, your business remains updated on the latest changes in labor laws, payroll regulations, and best practices for employee management. This helps radically reduce the possibility of penalties, lawsuits, or fines due to non-compliance. 

 

3. Enhanced Employee Engagement and Employee Retention 

 

Outsourced human resources not only focus on administrative tasks but also implement effective strategies regarding employee engagement and retention. Outsourced HR firms contribute to higher morale, productivity, and retention rates within the organization through the implementation of programs such as employee wellness, performance management, and recognition of employees. 

 

4. Efficiency in HR Operations Increases 

 

Outsourcing HR functions frees up resources and can be more effective since the expert professionals handle administrative tasks of payroll, benefits administration, and recruitment, while your internal team can concentrate on strategic initiatives of talent acquisition and organizational development.Outsourcing of HR simplifies all the processes and decreases the man-hours spent on routine tasks, thereby making the operations smoother. 

 

5. Access to Skilled HR Professionals 

 

Outsourcing human resource functions to an HR outsourcing company exposes your organization to a team of highly qualified human resource practitioners. The professionals have many years of experience in almost all aspects of human resources, including compliance, recruitment, performance management, and organizational development. You access the best practices in the industry, innovative human resource solutions, and even advanced technology at a fraction of the cost of hiring full-time employees. 

 

6. Adaptive HR Solutions to Fit Your Evolving Business Needs 

 

Another significant benefit of outsourcing HR services is flexibility. These human resources outsourcing firms will provide solutions to meet the unique needs of your specific business. Be it recruitment, training, payroll, or legal compliance, an HR service may offer flexibility by availing tailored solutions based on your unique needs. This implies that when your business is growing, it can upscale its HR services without necessarily developing additional infrastructure. 

 

Why Outsource HR Services?

 

In modern business, organizations face various challenges in the management and development of human capital. These numerous functions, ranging from payroll management to compliance with labour laws, become very time-consuming and end up absorbing valuable resources of the company. HR outsourcing helps an organization outsource such functions to professionals. By doing so, it is able to focus more on core operations. As a matter of fact, outsourcing has slowly become one of the popular solutions for organizations of all sizes, since it offers competence, cost-effectiveness, and an avenue for risk mitigation. 

 

Human Resource Outsourcing for Small and Medium-sized Enterprises

 

Outsourcing HR services can help level the playing field for the SME sector by having access to quality HR services. Most SMEs cannot afford the financial investment needed to invest in a dedicated HR department, but through outsourcing, they get a chance to tap into the expertise of a skilled HR professional. Outsourcing also guarantees that they remain compliant with constantly changing labor laws, which are very hard for smaller businesses to keep track of. 

 

The Role of HR Outsourcing in Talent Acquisition

 

One of the most important aspects of HR involves talent acquisition and retention. Human resource outsourcing companies definitely accord special attention to recruitment-from posting job advertisements to interviewing candidates. They ensure that hiring is a seamless process and therefore saves time for the business in making sure that they onboard the right talent fitting for the company’s culture. Besides, outsourced HR providers develop efficient training and development programs for the benefit of organizational development. 

 

Organizational Development Through Outsourcing HR

 

By focusing on talent management, performance evaluation, and employees’ development, outsourcing HR companies significantly contribute to organizational development. This ensures businesses achieve their long-term objectives by developing skills in employees that are aligned with business strategies. Their expertise assists in developing a positive work culture that will boost the productivity and satisfaction of employees. 

 

Most Frequently Outsourced HR Services

 

Following are some of the most common outsourced HR services: 

 

Payroll Management: Ensuring timely and accurate processing of payrolls. Recruitment: This involves managing the entire recruitment process, right from candidate sourcing to induction. Compliance Management: Ensuring compliance with labour laws and regulations. Employee Training: Imparting development programs for up-skilling the employees. Employee Benefits: Administration of benefits such as health insurance, retirement plans, and leave policy. 

 

Why Choose Outsourcing Over In-House HR?

 

Although keeping an in-house HR department provides some comfort in terms of control, outsourcing offers unparalleled benefits in terms of cost efficiency, compliance expertise, and scalability. This would reduce the overheads associated with running an HR department while reaping the benefits of having a team of specialized professionals. Outsourcing carries benefits related to being current on all the latest industry regulations and trends, thus minimizing your risks, while ensuring your company stays compliant. 

 

Conclusion: Why HR Outsourcing is the Future

 

Indeed, human resources’ future belongs to outsourcing. From the growing urge of cost efficiency and operational streamlining of businesses, outsourcing HR services helps organizations remain competitive through that process. Be it payroll outsourcing, compliance management, or talent acquisition, in general, HR outsourcing will keep its pivotal role in shaping the future workforce. 

Frequently Asked Questions

 

1. What is HR outsourcing?

HR Outsourcing: The process of contracting an outside company to provide HR services that may involve payroll, recruitment, and compliance, among other HR activities.

2. What are the advantages of HR outsourcing?

One gets cost savings through HR outsourcing, compliance management is a part of it, efficiency goes up, and access to HR professionals opens up.

3. Will outsourcing HR services help improve employee engagement?

Yes, outsourced HR institutes policies that help raise employee morale and engagement.

4. Does HR outsourcing guarantee compliance with labor laws?

Yes, HR outsourcing companies are specifically concerned with keeping up with the changing labor law and regulations.

5. Is HR outsourcing affordable for the small business?

Yes, it offers SMEs entry to expert Human Resource specialists without the expenditure of an internal HR department.

6. How does HR outsourcing help in talent acquisition?

Outsourcing companies handle the entire recruitment process; it provides a business with the best talent for their needs.

7. Does payroll management come under the purview of HR outsourcing?

Yes, payroll management is one of the most commonly outsourced HR functions, which ensures timely and accurate processing of payables.

8. Does HR outsourcing have flexible solutions?

Yes, outsourcing provides flexible HR solutions to meet particular business needs.

9. How will HR outsourcing help your organization in its long-term development?

The outsourced HR service will lead to long-term organizational development by paying adequate attention to talent management, training, and employee development.

10. Which of the HR functions can be outsourced?

Common ones are payroll, recruitment, compliance management, employee training, and benefits administration.

5 Things You Need to Know: Best People Practices for HR Managers

5 Things You Need to Know: Best People Practices for HR Managers

The quality of HR managers depends on their ability to handle every corporate situation with ease. From recruiting a workforce to maintaining a peaceful environment in the office, all fall under HR leadership qualities. These leadership abilities, a calm mind, technical thinking, and a strong sense of authority are expected from modern HR managers. All the metropolitan cities in India, such as Mumbai, have a huge demand for HR services. This increasing need is necessitating the implementation of successful HR best practices in alignment with shifting work environment dynamics.

 

An HR should be capable of viewing the whole process from talent acquisition to talent retention with balance among the workforce. A strategic talent acquisition encompasses systematic interviews, data-driven HR strategies, and predictive analytics that facilitate the HR managers to identify top performers early.

 

Annual employee training and development is necessary to optimize workforce productivity as well as motivation. HR managers must invest in ongoing learning programs that build employees for their current positions while equipping them for future jobs. However, strategic HR management can be mastered by following these people’s practices.

 

  • Sourcing the Right People

The success of a company lies in the performance of its workforce. Therefore, when recruiting or hiring candidates for a firm, HR practices prove to be helpful. A streamlined HR department uses a well-planned set of interviews to identify the most suitable candidate for the position and the company as well. An HR Manager must have the eye to search for the best-suited talented candidate that matches the company’s profile while also enhancing the overall recruitment experience.

 

HR managers can further optimize the hiring process by adopting AI-powered recruitment experience and recruitment enhancement strategies that include real-time communication, skill based enhancement, and tech-enabled application tracking. This improves employer branding and candidate satisfaction level.

 

For instance, Nielsen uses a predictive algorithm to find and keep valuable personnel. Their frameworks put extra importance on the merit of lateral moves that serve as retention drivers and early integration with new hires and tailored worker engagement tools. Especially within hybrid teams, best practices for remote onboarding such as digital welcome packets, virtual mentoring, and interactive training play a crucial role in including the new employees and making them productive from day one.

 

  • Continuous Training and development

The hiring of employees is just the beginning of HR responsibilities. Training and development are part of the best HR practices. HR Managers are expected to arrange appropriate training workshops for the employees at various levels of the organization to ensure growth and learning for their workforce. HR agencies must focus on skills-based talent development training. As competition grows, it becomes crucial to motivate the employees, as well as involving them in a healthy work environment by incorporating continuous performance feedback to support ongoing improvement and motivation.

 

Organizations can use employee experience platforms to provide personalized upskilling training sessions. Prompt Personnel, for example, provides flexible, self-directed learning in the form of its powerful Learning Management System (LMS). In this way, Prompt Personnel is assisting organizations in creating a future-capable workforce, boosting employee competence, and remaining competitive in a shifting business environment.

 

For example, Infosys runs its highly popular learning platform, Lex, offering continuous upskilling of employees through on-demand learning in leadership, technology, and domain expertise. This self-learning engine is part of a broader learning culture that Infosys promotes to get employees future-fit amidst a dynamic industry environment.

 

  • Transparent communication at all levels

HR Managers must be transparent in their communication with employees, as it affects their overall performance. The clarity of communication in the organization enables the employees to see the larger picture. HR Managers must clearly communicate all aspects of information concerning the employees. They act as a bridge between the senior management and employees. Therefore, one of the most effective HR practices is open communication with the employees.

 

For example, Microsoft empowers its employees to focus on continuous innovation and upskill. This promotion of a growth mindset aided the company’s shift to a cloud-first approach.

 

 

  • Employee Benefits Programs

Best HR practices also include providing certain benefits to the employees. HR needs to strategically plan out the benefits that should be given to the employees. The benefits should be such that they uphold the company’s goals and also motivate the employees. It is essential to choose the right type of employee benefits programs that prove the value of the employees. Most importantly, it might just help to retain the best workers and may also increase productivity.

 

For instance, Accenture’s generous benefits plan for employees covers health insurance, mental health treatment, parental leave, flexible work schedules, and even caregiving benefits. These benefits attempt to meet the needs of employees at various stages in their lives, supporting the company’s wellness emphasis and substantially improving retention and employee satisfaction throughout its global employee population.

 

  • Collaboration and Conflict Management

HR Managers can help resolve friction between teams through efficient conflict management. This will help teams to feel valued & heard. HR Managers must also promote a collaborative environment by encouraging teams to work together, communicate effectively, and encourage them to socialize outside of work. As the job market is becoming more competitive, the role of HR may also demand more than what was expected pre-COVID times. However, a person with these practices can easily flourish in HR services, not only in metro cities like Mumbai but also elsewhere.

 

Unilever, for instance, employs an AI-powered hiring platform with chatbots and digital testing to pre-screen candidates faster. It offers real-time feedback to and updates for the applicants, facial expression recognition, and tone in video interviews for cultural fit assessment. It has dramatically lowered time-to-hire, enhanced candidate experience, and established Unilever as an employer brand with a focus on tech.

 

  • Leveraging Technology for Efficient HR Management

Technology is now a component of contemporary HR processes and practices. The advancements have brought effective and efficient solutions in the HR operations that range from cloud-based HRMS (Human Resource Management solutions) to AI-based recruitment tools. Thus, HR managers are able to use these HR technology and analytics tools for training activities, monitoring employee performance, payroll, and feedback systems. HR practices can include HR technology solutions that are aimed at employee management and engagement because such online integration makes all processes easy and reduces human errors.

 

For instance, a fast food chain restaurant uses people analytics to link employee engagement with business outcomes like customer satisfaction and retention. By concentrating on a number of core measures, they reduced employee turnover and improved customer satisfaction.

 

  • Advanced Analytics for Strategic Decision-Making

HR outsourcing data analytics software forms a core part of HR outsourcing. Various predictive analytics are used by the outsourcing companies to forecast workforce requirements, identify gaps in skills, and create talent hiring plans. By using these analytics-driven insights, which are generated by HR outsourcing companies, the past data of employees can be analyzed, projections can be strengthened, the allotment of personnel can be done efficiently, and employee happiness and productivity can be boosted.

 

For instance, IBM leverages its own HR analytics platform to forecast employee attrition and drivers of employee satisfaction and performance. Leveraging employees’ behavioral patterns, engagement scores, and performance, IBM HR professionals can forecast problems before they occur, customize career development plans, and make data-driven talent choices to drive retention and business performance.

 

  • Promoting Diversity, Equity, and Inclusion (DEI)

Most businesses have integrated Diversity, Equity, and Inclusion (DEI) programs and DEI analytics into their business models in the past few years to promote equity. In order to establish a diverse and inclusive workforce, all HR managers have been putting these programs and policies in place in their respective organizations. Because it conveys the idea that workers are appreciated and valued within the organization, this varied workplace and atmosphere help the business draw in top talent. Regular DEI training, impartial hiring procedures, and equal development opportunities are all ways that HR managers may enhance employee happiness and the company’s reputation.

 

For instance, FlashElec promotes self-learning among teams and a flat structure. Since they believe diversity of experience and perspective has the potential to drive decision-making and innovation, they place greater importance on diversity and inclusion.

 

  • Maintaining Employee Wellness and Work-Life Balance

Workers are prioritizing work-life balance and mental health more than wages. These are now of greater importance to HRs than they were prior to the coronavirus pandemic. Despite all the efforts about employee wellbeing, such as employee wellness plans, mental health assistance plans, work-life balance benefits, employee participation plans, and so on, HR managers ought to ensure they are also addressing mental health support in workplace, stress, and overall wellbeing of the employees. To inspire job satisfaction, productivity, and rates of employee retention, as well as the profitability of the company, they should ensure that they are supporting work-life balance and employee retention strategies.

 

For example, TCS (TATA Consultancy Services) introduced a holistic wellness program called Fit4Life, which encourages physical fitness, mental health, and social relationships by involving challenges, mind therapy sessions, and flexible working hours.

 

  • Enhanced Recruitment Experience

There is no doubt that enhancing candidate experience is a top priority for 2025. Outsourcing professionals are using innovative digital technologies to automate the recruitment process. Real-time candidate engagement and seamless candidate tracking are made possible by AI-powered chatbots currently available on the market. Increased hiring process transparency greatly improves the applicant experience and employer branding.

 

Unilever, for instance, employs an AI-powered hiring platform with chatbots and digital testing to pre-screen candidates faster. The solution provides instant feedback and updates to the candidates, as well as facial emotion and tone recognition in video interviews to assess cultural fit. This has reduced time-to-hire, improved candidate experience, and made Unilever a technology-focused employer brand.

 

  • Conclusion

HR’s role demands more intense and effective means than ever as the job market keeps becoming more competitive. HR managers will be able to thrive in various business environments and urban areas such as Mumbai, Chennai, Bengaluru, Delhi, Hyderabad, Pune and Kolkata by embracing hybrid workforce management and combining innovative AI technologies with people practices, positioning their firms for sustained success and expansion.

 

Labour Law Compliance Management – Challenges from an Organization’s HR Point of View

Labour Law Compliance Management – Challenges from an Organization’s HR Point of View

Today businesses of all sizes right from start-ups, small-size firms to even MNC’s must focus on labour law compliance. The labour laws in any given country are updated by the concerned authorities and keep changing from time to time, and all business owners should be ready to adapt and abide by it. The responsibility of Labour law compliance management rests with the HR teams only, and this increases the pressure on the entire HR team. 

They need to keep themselves updated with all the changes, amendments and notifications related to employment laws and labour laws which can be a cumbersome and time-consuming process. One needs an expert who can handle such complexities. A labour law advisor can help in overcoming all the challenges related to labour law compliance

Here are some of the challenges faced by the HR teams:

Work timings:

Usually, work timings are set to a limit on a weekly basis. The entire working hours for one week should not exceed 48 hours. These 48 hours should also include the overtime and night shifts. There will be special provisions for night shift workers. As employees are even working from home, it is a challenge for the HR team to keep an accurate track of the working hours of each employee. 

Expert Availability:

If your business operations are spread out in multiple states, then the regulations of local governments, state and central are different. The company needs experts in all the applicable compliances in order to manage them all. It may not be possible for the company to handle so many compliances at times as they lack expertise to handle so many compliances. 

Overtime calculations:

Wages are usually calculated based on the working hours and working days in a particular month. A register with all the details should be maintained as evidence, by the employers. But when it comes to overtime, the pay slabs are going to be different. These records of overtime calculations and payments should be maintained in a systematic way as required by the labour department. 

Payroll compliance

As part of labour law complianceit is important for the organization to maintain a digital record of payrolls. Any kind of changes in the minimum wage act in the state level should be tracked from time to time, to make sure that you are paying the right salary to your employees. 

Apart from these, there are many other challenges that the HR team faces like the gender pay gap, GDPR and many other things. So, it may not be possible for the internal HR team to handle all these challenges by themselves. An expert labour law advisoris required to get everything in place. They take care of ESI, LWF, EPF and PT as well. Apart from these, they also take care of Regulatory compliance and vendor compliance audits as well. To make sure you have a clear and up-to-date employee record, and maintain labour law compliance, you will need the best team of experts in this field. 

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