Upasana Gupta
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The document discusses the importance of retention strategies over simply reducing attrition. It notes that the reasons employees stay at an organization are different than reasons for leaving. Effective retention strategies must be tailored to each organization's unique culture and motivating factors, and consider non-monetary interests of valued employees. A one-size-fits-all approach will not work, and retention must be an ongoing effort, adapting over time, rather than a single initiative. The focus should be on keeping top performers committed through meaningful strategies.
Upasana Gupta
- 2. The quality of work life in any organization is greatly influenced by the ethical and moral values prevalent in that organization. An article by Dr.Upinder Dhar & Dr.Santosh Dhar. BBuussiinneessss MMaannaaggeerr MMaayy 220011551 wwwwww..bbuussiinneessssmmaannaaggeerr..iinn A day in the life of a partner Leaders are the bedrock of institutional identify,form,substance, character and functionality. An article by Dr.Ganesh Shermon. 5 The article attempts to understanding the influence of a leader's personal spiritual belief and engagement for driving follower perceptions, motivation,retention and performance. An article by Dr.Rabindra Kumar Pradhan & Lalatendu Kesari Jena. 12 40 Ends Rule Supreme, means are Secondary! 10 Dr.Vinayshil Gautam Managing Time : New approach from ancient Greece Time management is based on a thousand year old theory of the four elements.An article by Dr.Rajveer Choudhary 40 4 The recipe of a good leader Good leaders are armed with foresight and adaptability.They don't rule from a manual but rather customize a culture that is specific to each company,its mission and the personality of its workforce. An article by Dr.A Jagan Mohan Reddy. 16 Skill development still holds the key! Corporate training/skill enhancement programs boost the confidence of students in different areas of management and business practices.Training assures stability in an employee's professional and personal growth,which is why training is a corporate imperative. An article by Neeru Anand . 41 Employment records can be maintained in electronic form Sec.4 of the Information Technology Act provides legal recognition of records maintained in electronic form. An article by H.L.Kumar 56 58 How PF amendments proposals may affect employee Adapting organizational change Most of the times,when a change is implemented in an organization, employees show their resistance to change and make efforts to resist the change.Successful organizations respond intelligently to factors which precipitate this change to their advantage and create a win- win situation.An article by Upasana Gupta. 43 Feedback without prejudice Spirituality atWorkplace: Role of Engaging Leadership The proposal of withholding 10 per cent of the fund till subscriber turns 50 is aimed at discouraging subscribers from withdrawing the PF amount before superannuation. Employee Retention Strategies The nuances of talent retention ALOK NIGAM Retention comes from empowerment & challenge SANJEEV HIMACHALI DNA of retention lies in engagement VINEET GAMBHIR Steps to employee retention NAINESH SANGHAVI Strategy only works when followed consistently SHWETA TANGRI The retention story! RAHUL KULKARNI All about being sensitive to people’s needs DEBJANI ROY People Retention R.VENKATANARAYANAN Have meaningful practices! NAGESH MARWAHA Alok Nigam Sanjeev Himachali Vineet Gambhir Nainesh Sanghavi Shweta Tangri Rahul Kulkarni Debjani Roy R.Venkatanarayanan Nagesh Marwaha 20-39
- 3. 63 https://www.facebook.com/businessmanagerhrmagazine Visit us on: wwwwww..bbuussiinneessssmmaannaaggeerr..iinn Questions by readers on variety of problems they face at work and answered by Anil Kaushik Chief Editor.Look at it. These may also be of some help to you. 47 64 Latest from the Courts Latest verdicts from different High Courts and Supreme Court effecting employer employee relations.49 46 Dr. Pravin Durai 60 BBuussiinneessss MMaannaaggeerr MMaayy 220011552 62 By Mihir Gosalia Form of participation should be suitable to work environment 61 Readers are invited to comment on articles published in BM through email at : bmalwar@gmail.com Great read APRIL issue was a great read. Guess HR, perhaps, is most challenged to ensure adherence to values, given their authority to build policies & programs that support value based behaviors. Seeing a lot of conviction amongst the authors on the need to build a value based enterprise. -Dr. Ganesh Shermon Relevant A very relevant topic, particularly, in today’s environment of fast growing and mushrooming of start ups. Business has changed in more ways than one. IT and e commerce have brought in new dimensions and some companies have grown too rapidly. In this rapid and sudden growth the aspect of a structured organizational culture is often forgotten or slips into a lower priority. In such cases it evolves on its own and later its very difficult to correct it. The organizational culture is most certainly the responsibility of the top management - owners, promoters etc. This needs to be deliberately decided and disseminated in clear terms. Thereafter its entirely a collaborative effort. Every single person in the organization needs to take ownership of it. This is a deliberate exercise and does not happen on its own. And if it does ..... there is danger. -Brig. Sushil Bhasin Grasping Greetings !!!!! Contents of Workplaces Ethics are very grasping and gripping , But the Credibility of HR Comes from Competence, Connect and care ------ DO'S and DON'T'S are apprehensive . I believe who works like ---DO'S and DON'T'S will ameliorate in his/her working style and raise. -Pooja Sharma Make things happen Greetings! It has been great pleasure of continuously reading Business Manager-HR Magazine. I am sure, HR personnel have gained from the opinions and views shared by eminent HR professionals from time to time. I was going through the April, 2015 edition, HR: Charting new territories by Mr.Rajesh Padmanabhan. a) The changing business scenario demands the Line Managers to be the HR Managers for their team and HR to provide specialized services which influences direction and strategy. b) HR should be able to predict organizational changes and strategize how to apply it to the people charter in sync with the business objectives. c) The key role for the upcoming HR is to “Lead the Change” along with CEO/Leadership.“MAKE THINGS HAPPEN” d) HR to constantly focus on promoting fungibility in the system. e) Encourage Leaders to create winning teams. f) Create investment Managers and not spend Managers. g) Cultural building in every single way is HR’s responsibility and this gives a great opportunity to write the success and play a vital role in organization building. h) HR needs to have global mindset. i) Modern Day HR. Rajesh, True HR Leader, great personality. -Satishkumar Amitabh Akhauri conferred upon the '100 Most Talented Global HR Leader' Award Insurance Cos to cushion employee needs in Job loss time Salary increases in IT Companies to remain around 10% Labour Cess Proceeds only for Workers' Welfare: HC Labour Cess Proceeds only for Workers' Welfare:HC By Simran Oberoi Rewards & Recognition 45 Recognition Strategy Is workers' participation in management practical and useful? Event Report Aparna Sharma's book on Human Resources launched at Mumbai
- 4. BBuussiinneessss MMaannaaggeerr MMaayy 220011553 I t is no wonder HR people at workplaces everywhere devote much time in either taking proactive initiatives to retain their quality people or doing firefighting to maintain lower attrition rate. What should be the point of worry for HR; is it attrition figures or retention efforts? It looks like same but not in reality.Trying to have a lower attrition rate would not increase the retention rate. Many organizations do all possible to arrest attrition of employees but hardly focus on retaining the people who matter most for the organization.There is a difference between the two. Attrition is sometimes good for the organization.Let mediocre or underperformers look for other opportunities and leave the organization.But it is the performers for whom there should be strategies in place to keep them continuing because the reasons employees leave the organization are very different from the reasons because of which they stay in. When opportunities beckon, the high rate of attrition is not surprising. Also it becomes difficult to retain employee even after having robust employee related policies and practices. However,there are some common reasons that specially cause employees to leave. The retention strategies of any organization should start from selection point.It should not become a case of mismatch. Qualified should not be taken as qualitative. We also should not chase for best to retain. There is nothing like best in the world. The best is one who has talent, values and qualities that meets your requirement, gets embedded in your culture, understand your business and deliver optimum by gaining competence and confidence in short period. Individuals differ in many respect.HR has to do analyses to identify non monetary interests and preferences of those employees and meet such preferences in action whom they want to retain.Strategies are not going to remain same forever in the organizations. After regular intervals you need to dig novel approaches to maintain effective manpower. Such strategies can not be orchestrated in isolation but must form part of overall organization’s HR policies. Also retention strategies can not bring desired results if they are copy pasted. Every organization has its own set of hygiene and motivating factors. It would not be appropriate for me to discuss here about retention strategies because experts with resounding experience and wisdom have enough to tell you all about innovative retention strategies, one can have and what’s happening currently in corporate world in the cover story pages. If you like it let us know.If not,well,let us know that too. Happy Reading! Not in isolation May, 2015 Vol.17, No.11 https://www.facebook.com/businessmanagerhrmagazine Anil Kaushik www.businessmanager.in Visit us on: Chief Editor ANIL KAUSHIK Associate Editor Anjana Anil Hon'y Editorial Board Dr. T.V. Rao Dr. Rajen Mehrotra Dr. V.P. Singh H. L. Kumar DELHI : F- 482,Vikaspuri, New Delhi-18 GHAZIABAD : A - 39, Lohia Nagar, Naya Ghaziabad (UP) Owned, Published and Printed by Anil Kaushik at Sun Prints, Ganpati Tower, Nangli Circle, Alwar - 301001 and Published From B-138, Ambedkar Nagar, Alwar - 301001 ( Raj.) India. Editor : Anil Kaushik The views expressed in the articles published in Business Manager are those of the authors only and not necessarily of the Publisher/Editor. While every effort is made to have no mistake in the magazine, errors do occur. Publishers do not own any responsibility for the losses or damages caused to any one due to such ommissions or errors. Annual Subscription 1000/- through DD (by ordinary Book-Post) (by Courier 1300/-) favouring Business Manager ( Please add 90/- to outstation Cheques) may be sent to: B-138, Ambedkar Nagar, Alwar - 301001 (Raj.) India, Ph : 91-144 - 2372022, Mob.: 09785585134 www.businessmanager.in E-mail : subscription@businessmanager.in bmalwar@gmail.com Published on 1st of Every Month
- 5. BBuussiinneessss MMaannaaggeerr MMaayy 2200115543 wwwwww..bbuussiinneessssmmaannaaggeerr..iinn T oday, companies are in a constant flux with the ever changing business environment. Changing economic climates, political trends, changing consumer demands, management policies or structure, employment levels and financial resources assert that organizations that cling on to static structures will ultimately lose out. Success goes to those who can visualize how markets are changing, identify new configurations of service or delivery and "change the rules of the game. Successful organizations respond intelligently to factors which precipitate change. In the best of times, organizations are involved in exciting opportunities as a result of new products, new technologies and new initiatives. In challenging economies and uncertain political environments, organizations are often faced with changes of varied nature, and these changes disrupt the status quo and causes stress to people involved. (Olson, 2008) The way in which the transformation of an organization is carried out is reliant almost entirely on the leadership style and the culture that are present in the organization. This is one of the most important reasons that leadership is crucial to the successful implementation of organizational change. Most of the times, when a change is implemented in an organization, employees show their resistance to change and make efforts to resist the change. For example- "It's not my job I will not do it" or "I haven't got time". Employees give their excuses to show that the new ways are vague and not useful for the organization. For example- "This new idea will not work at all", "If it's such a good idea, why didn't we do this the last time management changed its mind?" or "It will all change again next month". Even if they are forced to change the ways they work they feel stressed & demotivated and give statements like- "I'm keeping my head down this time", "Nobody told me about it…" or "The boss doesn't care anyway". All these kind of statements prove that change is not being managed properly in the organization and employees are not willing to implement it. There is no single methodology for every company to manage and implement the change process; however a set of practices, tools, and techniques can be adapted to a variety of situations. Here are few guiding principles that can be applied in different situations for transformational change. 1. Address the human side of change systematically: Any transformation of significance creates people issues. New leaders are asked to step up, jobs are changed, new skills and capabilities must be developed, and people become uncertain and resist for change. Dealing with these issues on a reactive, case-by-case basis puts speed, morale, and results at risk. A disciplined approach should be used to solve out these issues. 2. Change starts at the top and begins on day one: Change is inherently unsettling for people at all levels of an organization, and when it is on the horizon all eyes will turn to the CEO and the leadership team for strength, support, and direction. The leadership must change first to challenge and motivate the rest of the institution, speaking with one voice and "walking the talk" to model desired behavior. 3. Real change starts at the bottom: As transformation programs progress, it affects different levels of the organization. Adapting organizational change Most of the times, when a change is implemented in an organization, employees show their resistance to change and make efforts to resist the change. Successful organizations respond intelligently to factors which precipitate this change to their advantage and create a win-win situation. Upasana Gupta Asstt.Professor,Lal Bahadur Shastri Institute of Management &Technology,Bareilly
- 6. Adapting organizational change BBuussiinneessss MMaannaaggeerr MMaayy 2200115544 wwwwww..bbuussiinneessssmmaannaaggeerr..iinn Strategy and target setting is usually the responsibility of the leadership team, Implementation relies on line managers and individual contributors. 4. Change the attitude of employees: Leaders can help the change process by changing their employees' attitude towards resistance and encouraging them to accept change and welcome the positives that the transition will bring. This is often best accomplished by changing avoidance questions and statements into acceptance questions: From "Why we should change?" to "What it will provide?" When employee asks "why," leaders should focus on the benefits that the change will provide them and the organization. From "How will this affect me?" to "What problems will this solve?" Anything that prevents something from being better is a problem. Let employees know what the problem is and how they will be part of the solution. From "We do not do it this way." to "What would it look like?" Leaders should provide plenty of explanations and compassion, and get their team to ask and answer questions. So that they may know how change will affect them. From "When will this change be over so we can get back to work?" to "What can I do to help?" Leaders should get employees involved in implementing the change. They should help them to become part of it. 5. Expect loss of productivity initially: At the initial stage of the change cycle, chaos follows inevitably. If change is well planned, the transforming idea is included in the change plan, and one can expect the period of chaos to be as short as possible - but one should not expect it to be shorter than possible. Expect some chaos. And chaos ultimately depresses productivity. Count on it. 6. People change for better rather than worse: Threats are fine for determining behaviour, but they just don't create real change. Here are two approaches that don't work: "You better do this, or it's your job." "If we can't figure out how to do this, we'll be out of business." Instead, realize that lasting change comes from within - from the heart, from the spirit. To create lasting organizational change, you must develop a vision of a better work life - a vision that people can really believe in. 7. Confront reality, demonstrate faith, and craft a vision: For successful implementation of change, it is required to confront the most brutal facts of the current situation, explain the vision, i.e., where you are going and what you need to do to get there, and retain faith that you will prevail in the end regardless of difficulty. 8. Practice targeted over-communication: The best-laid plans are only as good as the institution's ability to understand, adopt, and act on them. Too often, change leaders make the mistake of believing that others understand the issues, feel the need to change, and see the new direction as clearly as they do. Communication (both outbound and inbound) should be targeted so as to provide employees the right information at the right time, to solicit their input and feedback and to check in on their emotional response to what they've heard. 9. Prepare for the unexpected and backtracking: No change program has gone completely according to the script. Organizations do not move smoothly from old status quo to new status quo. People will react in unexpected ways, areas of anticipated resistance will fall away, and the external environment will shift. Effectively managing change requires constant reassessing of the impact of change efforts and the organization's willingness and ability to adopt the next wave of transformation. 10. Speak to the individual as well as the institution: Change is a personal journey as well as an institutional one. Individuals need to know how their work will change, what is expected of them during and after the change program, how they will be measured, and what success or failure will mean for them. 11. People don't forget what they already know: Although we know quite a lot about how to show people new ways, very little is known about how to make people forget old ways. The old ways will stay with the organization, no matter how tightly you try to constrain - or coerce - people to follow new paths. This means that after you've educated everyone about the new ways of doing things, the old patterns are still there. And people are always free to fall back on the old ways. The only way to limit this behavior is to make the new ways so appealing and fun that people will choose them over the old ways. How you do that depends on what you're changing and on your particular organizational culture. Most leaders contemplating change know that people matter. In order to carry out the set plans and procedures, leaders have to face more difficult and more critical human issues. The guidelines shared can help dispel some of the mystery of successfully mastering the "soft" side of change. As Charles Darwin quoted, "It is not the strongest species that survive, nor the most intelligent, but the ones who are most responsive to change." There is no single methodology for every company to manage and implement the change process; however a set of practices, tools, and techniques can be adapted to a variety of situations. BM