Give And Take: Overused Yet Not a Cliche
Reciprocity, the mutual interchange, is the survival unit in
today's tough economy. To yield good, sow good. Talking about the modern
manufacturing era, for a company to attain a top position, it should
recognize the importance of formatting employee benefit administration.
Every organization on one hand expects an effort or input from their
employees and on the other hand employees also demand services in return
to satisfy their needs.
Every company desires an excellent performance; thus, in order to improve their operational activity, they need to value their assets. Manpower is an important asset of an organization. Proper management and improvisation of benefit reforms along with the compensations offered by a company to its employees is a splendid step in grabbing an employee's interest.
Before drafting the whole formal employee benefit administration, the budget of the company is always considered first. The lower the transaction, the higher would be the budget to be utilized in meeting employee demands, as does Google, Apple, Unilever and other people oriented companies. For building interests in employees, rewards are offered on the basis of their performances. These awards can be monetary or non-monetary. The higher the performance, the higher will be the award.
Furthermore, employees like honorary awards for significant achievements, providing informal recognition items, offering better transportation services, flexible working hours, health and welfare solutions, carrier enrolment services, etc. can help a company yield better performance. The happier the employee, the better would be the output. If we look into monetary rewards, companies include special bonuses, fringe benefits like employee discounts, personal use of a company owned vehicle, etc. to satisfy this human capital.
Improving the Human Resource Department also contributes significantly in increasing an employee's motivational level by providing them with training and development programs to polish their awareness and their skills. This training and development program includes different workshops, seminars, coaching, mentoring, showing corporate videos, etc.
A company performs all such activities for the sole purpose of motivating their employees in order to meet organizational goals in an efficient manner. The best example in front of us is P&G. It meets all the above mentioned demands and provides great support to women employees especially. Organizations need to recognize the fact that what goes around comes around and it will benefit in the long-term. The last recession was a wakeup call for the business world and in the post recession era many remarkable examples were set by organizations embarking upon the importance of manpower.
Every company desires an excellent performance; thus, in order to improve their operational activity, they need to value their assets. Manpower is an important asset of an organization. Proper management and improvisation of benefit reforms along with the compensations offered by a company to its employees is a splendid step in grabbing an employee's interest.
Before drafting the whole formal employee benefit administration, the budget of the company is always considered first. The lower the transaction, the higher would be the budget to be utilized in meeting employee demands, as does Google, Apple, Unilever and other people oriented companies. For building interests in employees, rewards are offered on the basis of their performances. These awards can be monetary or non-monetary. The higher the performance, the higher will be the award.
Furthermore, employees like honorary awards for significant achievements, providing informal recognition items, offering better transportation services, flexible working hours, health and welfare solutions, carrier enrolment services, etc. can help a company yield better performance. The happier the employee, the better would be the output. If we look into monetary rewards, companies include special bonuses, fringe benefits like employee discounts, personal use of a company owned vehicle, etc. to satisfy this human capital.
Improving the Human Resource Department also contributes significantly in increasing an employee's motivational level by providing them with training and development programs to polish their awareness and their skills. This training and development program includes different workshops, seminars, coaching, mentoring, showing corporate videos, etc.
A company performs all such activities for the sole purpose of motivating their employees in order to meet organizational goals in an efficient manner. The best example in front of us is P&G. It meets all the above mentioned demands and provides great support to women employees especially. Organizations need to recognize the fact that what goes around comes around and it will benefit in the long-term. The last recession was a wakeup call for the business world and in the post recession era many remarkable examples were set by organizations embarking upon the importance of manpower.
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