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Thursday 23 August 2012

Top Ten HR Practices

Handling Human Resource is the most challenging task for an organization. Here are the top ten practices that can assist you achieve your organizational goals and objectives.

Healthy Working Environment
1) Safe, Healthy and Happy Workplace

It is very important to make employees feel comfortable at the workplace. To make this possible, organization should lay emphasis on creating a safe, healthy and happy working environment.  This would ensure that employees stay in the organization for a long time dedicating themselves for the company’s growth as well as their nourishment.

2) Open Book Management Style

Sharing information about contracts, sales, new clients, management objectives, company policies, etc. ensures that the employees are as enthusiastic about the business as the management. Through this open book culture, an organization can gradually create a culture of participative management and ignite the creative endeavor of the work force.

employee bonus3) Performance Linked Bonuses

Paying out bonuses or having any kind of variable compensation plan can be both an incentive as well as disillusionment, based on how it is administered and communicated. Bonus must be designed in such a way that people understand that there is no payout unless the company hits a certain level of profitability. Additional criteria could be the team’s success and individual’s performance. Never payout bonus without measuring performance, unless it is a statutory obligation.

4) 360 Degree Performance Management Feedback System

360 degree feedback system
This system, which solicits feedback from seniors (including the owner), peers and subordinates has been increasingly embraced as the best of all methods for collecting performance feedbacks. Gone are the days of working hard to impress only one person, now the opinions of matter, especially if you are in a leadership role. Every person in the team is responsible for giving relevant and constructive feedback. Such systems also help in identifying leaders.

5) Fair Evaluation System for Employees

A fair evaluation system should be developed that clearly links individual’s performance to corporate business goals and priorities. Each employee should have well defined reporting relationships. Self rating as a part of evaluation process empowers employees. Evaluation becomes fairer if it is based on the records of periodic counseling & achievement of the employee, tracked over the year. For higher objective, besides the immediate boss, each employee must be screened by the next higher level. Cross-functional feedback is obtained by the immediate boss, will add to the fairness of the system.

6) Knowledge Sharing

Adopta systematic approach to ensure that knowledge management supports strategy. Store knowledge in databases to provide greater access to information posted either by the company or the employees on the knowledge portals of the company. When an employee returns after attending any competencies or skill development program, sharing essential knowledge to others could be made mandatory. Innovative ideas are good to be posted in these knowledge sharing platforms. However, what to store and how to maintain a knowledge base requires deep thinking to avoid clutter.

Appreciate Talented Employees7) Highlight Performers

Create profiles of top performers and make these visible through company intranet, display boards, etc.  It will encourage others to put in their best, thereby creating a competitive environment within the company. If a systems approach is followed to shortlist high performers, disgruntlements can surely be avoided.

8) Open House Discussions & Feedback Mechanisms

Ideas rule the world. Great organizations recognize, nurture and execute great ideas. Employees are the biggest sources of ideas. The only thing that can stop great ideas flooding your organization is the lack of an appropriate mechanism to capture ideas. Open house discussions, employee management meets, suggestion boxes and ideas capture tools such as critical incidents diaries are the building blocks that can help the managers to help and identify talent.

9) Reward Ceremonies

Merely recognizing talent does not work. Organizations need to couple it with ceremonies where recognition is broadcasted. Looking at the dollar check is often less significant than listening to the thundering applause by colleagues in a public forum.

Employee Benefits
10) Delight Employees with the unexpected

Organizations should occasionally delight its employees in an unexpected manner that may come to them in the form of a reward, a gift or a well done certificate. Reward not only top performers but also a few others who are in need of motivation to exhibit their potential.

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