Thursday, March 31, 2011

How to become employer of choice not chance?

How to become employer of choice not chance?

“It is not chance, it is choice which lead to destiny.”

How to become Employer of choice? This is burning question, mission and matter of discussion for the corporate as well as academicians. HR luminaries and top hunks from management are burning there oil to achieve this overwhelming task. Employer of choice it is not one more management funda for discussion and presentations it is need of hour.

We are living in era of GPL and cut throat competition where employees are having choices and they do not hesitate to use it. There is only one thing which differentiates normal company form great company that is right people. Right people not only give competitive advantage to company but this is factor which competitors find difficult to imitate. Problem with right people is they are very difficult to hire and brutally hard to retain. It is challenge for every HR and employer to attract and retain right people but question is HOW? What should they do so that they not only attract right people but retain them by there choice.

There is neither direct answer to this question and nor universal solution which fits to all organizations. Every organization will have to do there autopsy to find out there key to success. There are some core fundamentals which will remain same to all and employer should keep it in mind while framing there HR polices. We can call these fundamentals as F7 for our convenience. They are as following:

1) Financial Rewards

2). Fulfill Social Responsibility

3). Friendly Environment

4). Flexibility

5). Fast learning

6). Feedback

7). Future Growth

Financial Rewards: Some of my readers are thinking why I had given financial rewards so much importance and kept it at top position. Whether we agree or not MONEY matters and beauty of money is it attracts and helps HR in hiring. Employees leave organization because of manager and other factors but while joining they give importance to Money. Money is tangible and employee can quantify it while other factors are difficult to gauze, uncertain and futuristic. In retention also financial rewards play vital role. Right people want differentiation and money is good yardstick for differentiation. Employer must not ignore importance of financial rewards. We should use it carefully so that it become boon for employer and employee.

Fulfill Social Responsibility: It is human tendency that we would like to associate with organization and persons who we keep in high regards. Organization by fulfilling social responsibility not only helping people and society same time they are building brands for them self. The Brand which people love, respect and want to be part of it. It will give cut edge to employer at a time of attracting right people.

Friendly Environment: Era of bureaucracy and long hierarchy are thing of past. Organization must have employee friendly environment. Where they feel free to have and share there thoughts, believes and feelings. Where they are respected and recognized as a person and not because of post. There must be fun at work employee must not feel bore, frustrated and exploited. When employee will be happy they will make your customer happy and when customer will be happy your report card will be happy and cycle will go on and on.

Flexibility: People policy must be flexible not only in paper but in spirit also. Flexibility in pay, flexibility in timing, Flexibility in leave etc people policy should be such that it give flexibility to employees which enhance there performance and go in hand-hand with company goal and missions.

Fast learning: Change is only constant so continuous fast learning should be integral part of company culture. Employer should motivate and provide diverse source of learning to employees so that they can enhance their performance and potential. Learning will not only provide new challenges to employees it will also prepare them as a future leaders.

Feedback: Proper and continuous feedback is must for every people and organization So that they could know where they stand, how they stand and what to do next. Feedback is mode of communication which keeps people focused and it removes ambiguity. It helps employees in achieving their goals and sends message that employer care for them.

Future Growth: People want growth in personal and professional life. Employer must have growth/Succession plan for employee and he must prepare employee for it without it will be difficult to retain employee.