The Best HR Practices
The best practices in Human Resources which can help an organization to achieve the organizational Goals
1) Happy Workplace :
If employees would be happy they will work better. Many organizations doesn’t take this into consideration. Its a myth that a serious and tense environment will yield better results.A company should ask the employess on regular intervals whether they are happy with the workplace, culture etc.Surveys can be conducted.TCS India regularly conducts a survey called ‘Pulse’ which captures the pulse of every employee to make sure that he is happy.
2) Transparent Management(Participative Management Style) :
It’s also known as the Open Book Management Style.The organization should share everything with its employess.New policies,new acquisitions or any other major managerial decisions should be shared with the employees without fail.It not only increases the awareness but also leads to a proactive employee who takes interest in the company. It involves making people an interested party to your strategic decisions, thus aligning them to your business objectives. Be as open as you can. A company should not only inform about the decisions to the people but also should allow them to participate in the decision making process.
3) 360 degree Feedback System
The feedback in the organization should not be top-bottom. It can lead to discrepancies in the feedback and other issues like favoritism etc.A 360 degree feedback ensures that everyone gets its due. Not only your senior will rate you but your subordinate, whom you managed, would also be involved in the appraisal. This gives the real picture and also is highly transparent.
4) Bonuses
A Bonus can be a very tricky HR practice. It is a very good thing to have if implemented properly but it can also backfire if not taken seriously. Paying out bonuses or having any kind of variable compensation plan can be both an incentive and a 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 the individual's performance. Never pay out bonus without measuring performance, unless it is a statutory obligation.
5) Fair and Proper Appraisal System
This is one of the most important HR policy and practice. A poor appraisal system can make it difficult to retain good employees and a good appraisal system not only guarantees retention but also leads to a happy and efficient employee. 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 & achievements of the employee, tracked over the year. 360 degree feedback should also be integrated with the appraisal system.
6) Recognition of Performers
Initiatives like’ Employee of the month’ or ’ weekly star ‘ can lead to encouragement for the employees. It also leads to motivation and healthy competition within the company. Have a transparent methodology to highlight and shortlist top performers.
7) Open House Forums
Employees should have a proper platform or mechanism through which they can communicate their ideas to the senior management. Open House or forums are the best means to achieve that. Have a yearly open house or a monthly forum where senior management would interact with the employees and ideas can flow.
8) Knowledge Sharing
Have a proper knowledge sharing system and a database in place. This would ensure that knowledge is not concentrated at an individual or team level but is available across the organization at any point in time.Link training and competencies with the knowledge base.
9) Employee Training
Have a proper training system in place so that the employee evolves and grows in the organization. Ensure that employees are doing the required training in time. Link the training with the appraisal. This system ensures a growing and knowledgeable employee.
10) The Wow Factor
Surprise your employee in the form of a unexpected reward, a gift or a well-done certificate. Reward not only the top performers but also a few others who are in need of motivation to exhibit their potential. e.g. Many companies give their employees iPods or some devices when the company crosses a certain targeted revenue point.
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