India is now becoming a major player in the global stage. This change has given lot of opportunities to our country to grow further but it has also posed lot of challenges in front of us, Indian companies have gained the confidence to acquire foreign giant companies and try to establish themselves competitively against their foreign counterparts. at the same time we have to give emphasis on the various challenges before us like the gap between people in the corporate world and those in the rural areas is becoming serious concern and the wage differentials between blue collared workers and senior managers, the candidates having good education and communication skills getting more chance in the job market than other people lesser than them, attrition levels are all time high in India for example business process outsourcing facing problems with talent retention.
This paper tries to extract the facts to find out how the companies in India facing HR problems employ innovative practices to recruit and retain their employees and make them feel that their organization is the best place to work and enjoying working and made the companies in the great height in their own field of business.
FOUR CRITICAL DIMENSIONS OF BEST PRACTICES
Attract and Access:
Attracting and retaining talent is becoming a big problem for every organization, they are following every trick and strategy to recruit and retain the employees. Develop and Grow:
Nowadays organizations try to recognize the aspirations of employees and focus on their growth and development. India provides job rotation opportunities to high – performing employees from operations division. This gives them broader understanding of the business. Engage and Align:
Employee engagement has retained the focus of organizational leadership and many companies keep launching new practices to woo employees. They are using innovative practices like “Loyalty Interview”- to find out what is it that makes its employees stay on, the feedback from loyal employees often reflects on the leadership style and is seen to work as a great motivation. Transition:
Movement of talent within the organization and outside of the organization sends strong signals to the employees about the organization’s care and concern. Right from the induction, which is often the first impression the employees carries, to the exit interview, the sensitivity displayed by the organization has a lasting impact on all employees.
INNOVATIVE PRACTICES IN HR AREAS:
Recruitment and selection
Learning and development
Rewards and recognition
Compensation and benefits
Leadership and development
1.RECRUITMENT AND SELECTION
(i) Diversity among employees: Ex – army man to former school teacher in the workforce. (ii) For recruitment they expect the person has to be comfortable with technology and be optimistic about the future. “Like someone who you would find interesting on a long train journey”. The company’s recruitment process ensures that it gets the people edge it needs. There is a battery of wiring tests, interviews are rigorous, not in the sense of being a stress interview, but interviewers try and go deep into what makes the candidate tick. Then the detailed feedback on the candidate is given to an independent team in charge of hiring. The company’s credo is to hire someone who is better than you. 2. Employee referrals by employees which comprises 50% of all hiring at SAP Labs India, Bangalore. 3. Non – standard pool of talent: housewives with a gap in career 4. “Bar Raisers”:
The HR department has organized an elite group of 34 employees – who have veto power in an recruitment decision, if a Bar member feels a potential recruit does not match upto the company’s standards. 5. Short stories:
The Company compiled 52 short stories, one for each week, the company...