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Arghaa Academy of IR- Learn & Share 5/12/2018 -HR IR how can we add more value to people issues and business performance

HR Swarna Cumi: Today's discussion Point 5/12/2018

As a plant HR IR how can we add more value to people issues and business performance.  Can anyone please brainstorm and pour out your valuable suggestions

HR.Rajan Babu

Understand the Company's  Performance Framework. 

• This means you gain a clear perspective of how shareholders view the present business in relation to its future. 

• You  should have a good grasp of the business model of the organization (how it drives revenue) and strategy           (how it competes with its model in the market place). 

• You  should know what roles need to be fulfilled if that model is going to succeed and where the gaps are. 

• You should know what skills and talents will be needed to fulfill those roles.

Build a Talent Strategy.  

• With the aforementioned performance framework in mind, map out a talent strategy that addresses the gaps that need to be filled and what it will take to address them.

• Know what the talent trends in business are and what kind of people it's going to take to fuel the growth the shareholders have envisioned.  

• Anticipate what kind of value proposition that kind of talent is going to be looking for and how it aligns with your current offering. 

• Identify gaps in your rewards package and research the best way to fulfill them. 

Create a Meaningful Value Proposition—

One that both shareholders and employees can embrace. 

• Shareholders are concerned with return on every Rupees  invested in the business. 

• A large amount of money is poured into compensation every year and most business leaders are concerned that it isn't held accountable to an ROI as other, large capital deployments are. 

• Learn what it means to measure productivity profit in the business and how to make incentives self-financing. 

• Understand what it means to build a wealth multiplier organization and operate under a philosophy that ties value sharing to value creation. 

• Learn what shareholders believe is the point at which addition value (beyond that created by their capital work) is being created by the people in the business. 

• Then share the wealth creation and sharing philosophy with employees and demonstrate their pathway to participation in company growth and productivity.

Build Line of Sight in the Organization.  

• This occurs when employees can make a clear connection in their minds between the vision of the shareholders, the business model and strategy that fulfills that vision, 

• The employee's role in the business model and what's expected of him in that role and how he will be rewarded if he fulfills those expectations. 

• When line of sight increases, so does accountability and results.

• When employees understand the context in which they are working, greater engagement results. 

• Engagement improves productivity and execution--both of which add value to the business.

Promote a Total Rewards Approach.

• Ultimately, there are four issues that the best talent is always evaluating about its association with your company. 

• If you are in human resources, you should pay attention and promote all four of these elements and ensure the company as a whole (and the CEO in particular) is making each a priority.  

Compelling Future—

• A  great employee wants to relate to where the business is going, embrace its value system and believe the future company can't be realized without his or her unique contribution.

Positive Workplace—

• Premier talent seeks to work in an environment that respects and utilizes its unique abilities, where communication channels are open and problems can get solved.

• It also wants the nature of the work it is doing to be meaningful and have other engaged, committed people with whom to associate.

Personal and Professional Development—

• People of high capabilities want to know that their association with the business and its resources will make them better; that their unique abilities will improve as a result of their involvement in the company

Financial Rewards—

• Individuals want to have a sense of partnership with the business. 

• That kind of relationship is codified, in large measure, when the compensation system provides an opportunity to share in the value they help create.

If human resources  pay attention to these five areas of focus, its value to the organization will soar.  It will add value to the CEO and he or she will come to view those who operate in these terms as key partners in building the business.

[7:09 PM, 12/5/2018] HR Murugavel Hyundai Steel:

1. Treat the employees as business associates.

2. Record and Review employee satisfaction surveys. 

3. Prepare a plan to improve and maintain employee satisfaction.

4. Hear their grievance and provide possible solutions.

5. Upgrade their skill and develop career path to meet further challenges.

6. Explain the changes in business and customer requirements.

7. Involve them in techno/process/procedural changes.

8. Remember change will not happen as per paper plan. 

9. Keep your plan flexi to accommodate change.

10. Share the plant performance at regular intervals.

[7:13 PM, 12/5/2018] HR. Rajan Babu:

Just add Murugavel , We need to understand what the business  requirements first. What is really happening. This helps us to plan for our self first.

[8:12 PM, 12/5/2018] HR. Rajan Babu: The appeal was accordingly disposed of. [Manju Saxena v. Union of India,2018 SCC OnLine SC 2659, decided on 03-12-2018] Interesting Judgment

[9:27 PM, 12/5/2018] HR Vijay Haunders: Constructive feedback

Courtesy : Arghaa Academy of IR Whatsapp group