Employee Rewards and Recognition Updates

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Employee Rewards and Recognition Updates curated by the HiFives Team

An Engaged Workforce Contributes Immensely in Rapid Recovery: Katyayani Krishna, Maersk

May 03, 2021

Summary: Katyayani Krishna, Area HR Head for IBS (India, Bangladesh and Sri Lanka) Maersk, see the last year 2020 as an year that redefined the outlook towards EX and 2021 brought new hope with the first jab of COVID 19 vaccine. She emphasized on transitioning the office model of the hybrid ecosystem which is now the future of work and is going to stay for years to come.

This calls for changing certain enablers to drive employee experience in the changed work environment. She further mentioned that it is time to leverage the technology, change the landscape of employee engagement, rethink leadership in the evolving world, and, build capabilities for the future. She thinks it is important to remain flexible and focus on multi channel communication in the hybrid work culture. Read the full article.

5 Truths About Employee Engagement that no one wants to Hear

May 02, 2021

Summary: Each and every organization has now understood how important is employee engagement for the purpose of business success. In case the employees of a business organization are disengaged, the first step is to accept the problem and then run an engagement survey to understand the actual figures.

The employee engagement programs should be such which lead to sustained improvements by providing opportunities to the employees for skill development and recognizing their efforts towards company’s success. The whole idea should be the empowerment of the employees. Read the full article.

Continuous check-ins: A Means to Motivate Remote Workers to Reach their Goals

May 02, 2021

Summary: Shankar Krishnamoorthy, Founder & CEO, Synergita, felt that companies are forced to allow remote working for employees in the wake of the pandemic Covid 19. Over the time, isolation has negatively affected the performance of the employees. The productivity levels and employee morales are continually diminishing. This is the reason, a continuous performance management system can bear good results in such times where the work location of the employee is not of great importance.

Various features such as goal management, 360 degree feedback, continuous check-ins, team meetings, rewards and recognition, custom reports and analytics and training program and development can be added to the same. Effective communication is always the key and continuous check-ins can give opportunity to managers and the entire team to communicate to thrive the company goals. Read the full article.

Australians can now receive Wages in Bitcoins as Crypto acceptance grows

May 01, 2021

Summary: The dramatic surge of bitcoins prompted the employees of the cryptocurrency firms to take full or part salaries in bitcoins. After the pledge by Miami city council to pay part of wages in Bitcoins, Australians can now receive a portion of their employment wages in Bitcoins through a new service from leading Australian Bitcoin payments company, Living Room of Satoshi.

Cryptocurrency comes with an ease of transfer across the borders and also an involvement of a lower transaction cost. Read the full article.

Building Equitable Workplaces for the Now and Future: IKEA India’s Parineeta Cecil Lakra

Apr 30, 2021

Summary: In an exclusive interaction, Parineeta Cecil Lakra, Country People and Culture Manager, IKEA India shares her views on impact of pandemic on the role of women in the workforce and how it has offered an opportunity to get social inequalities, diversity, and inclusion right.

The women has always been balancing the twin responsibilities of work and family and the situation worsens during pandemic. Despite the challenging circumstances, they have always emerged strong. IKEA has been following a multi dimensional approach in order to provide gender equality. Read the full article.

9 out of 10 Businesses are Planning to Replace Employees who Struggle to Work Independently

Apr 29, 2021

Summary: A new data highlighting how businesses are planning for the ‘new normal’ post COVID and its impact on recruitment over the next 12 months has been published by Global expenses app, ExpenseOnDemand. The survey was done across the major companies and it emerged that the companies are planning to replace workers who are unable to work remotely.

84% of the companies are also eyeing on automation for a seamless transition between remote and office-based working and planning to reduce clerical and admin roles by implementing more automated processes. 95% of the organizations are planning to make new recruitments once the economy recovers from the impact of the pandemic. Read the full article.

Microlearning and Nanolearning: New Trends in Learning and Development

Apr 29, 2021

Summary: The advancement of technology has brought about revolutionary trends in the field of learning and development with microlearning and nanolearning being the most innovative and evolving learning programs.

They meet the moment of need and can be imparted using the online learning methodology. The content of both of these learning tools is quite engaging, easy to comprehend and understand, accessible and provides a formal and informal learning. Read the full article.

Blockchain Applications and the War for Talent

Apr 28, 2021

Summary: The blockchain technology has again hit the headlines as a  tool for employers to differentiate themselves and win the war for talent as it provides a competitive edge in the global pandemic. Some companies across the world are seen using Bitcoin and other established cryptocurrencies as an additional instrument to reward their employees.

The advantages of blockchain-based applications include a borderless network, ease and speed of transfer, and a lower risk of devaluation (some cryptocurrencies, such as Bitcoin, have a hard cap on total supply). Blockchain applications for human capital management, such as token-based ecosystems, helps by incentivizing the collective achievements such as climate change-related goals, thus providing an effective medium for intercompany optimization of work and talent. Read the full article.

Hybrid Work Model requires improvised Performance Evaluation Structure

Apr 28, 2021

Summary: Taniya Kurve, Head-Training & Development and Marketing Financepeer, feels that hybrid working model is the preferred option of all the companies, but that certainly calls for alterations to be done in the performance evaluation system as few employees are working remotely while few on work stations.

Thus, both set of employees have a redefined job profiles and thus there is a need for target adjustments to be done. Evaluation can be done on a pro rata basis, on professional development, work ethics, punctuality and daily task completion. However, the companies should brainstorm to come up with more accurate ways of performance evaluation. Read the full article. 

How Leaders are using Technology to Enhance Employee Engagement amid Remote Working

Apr 28, 2021

Summary: Raman Kumar Singh, CHRO, ABB India, believes there is a profound need for leaders to be more engaged with the employees and motivate them well towards achievement of organization goal in place of an in-person engagement.

ABB India adopted various measures, including frequent team meetings, creating awareness around the holistic wellness programs of the company, training team managers around sensitive topics like leading with empathy, maintaining personal connection during calls or meetings to bring the employee engagement level. Another initiative is to involve the families of the employees. He feels that corporate success is the intersection of the talent with technology. Read the full article. 

Over 87% of Employees think Virtual Recruitment is a Boon

Apr 28, 2021

Summary: Staffing company, Genius Consultants conducted a survey comprising 998 respondents that suggested that 87.4% of the employees feel virtual hiring as the most convenient way of reaching out to the candidates and vice versa and also offers advantages such as scheduling meetings and interviews at mutually convenient times, etc.

Only 12.3 per cent of employees feels that online recruitment is not working out as a viable option. R P Yadav, CMD, Genius Consultants mentions that Virtual recruitment has been one of the positive changes that the industry adapted in these testing times. Read the full article.

Beware of Isolation Fatigue caused by Remote Working

Apr 28, 2021

Summary: Currently, the ongoing pandemic has forced each and every company to arrange WFH for the staff members as a business continuity plan. Maneesh Menda, Head – Human Resources, NatWest Group India, maintains that there is a need of review in the HR policies to offer flexibility to the employees in case of employment of return to work strategy.

Employee wellbeing and infrastructure at home needs to be closely monitored. The most sensitive issue that causes poor employee engagement is lack of discipline and a diminished focus on wellbeing. Prolonged WFH leads to mental illness and the same should be discouraged. Read the full article.

HDFC Bank sets up Isolation Centres for Covid-affected Employees

Apr 28 ,2021

Summary: HDFC Bank has announced host of holistic measures to take care of employees and their dependents infected with COVID 19. It has converted three of its training centres situated in Bhubaneswar, Pune, and Gurugram into isolation facilities, which will provide first-line assistance and supervision by nurses and visiting doctors. In case of emergency, immediate medical help from the nearby hospitals is also arranged.  

The bank has also been working with the local administration for setting up vaccination camps. It had also tied up with hotels across the country to provide isolation facilities, basic amenities and medical checks. Read the full article.

Welspun Group announces Initiative to provide Equal Opportunity for its Female Staff

Apr 28, 2021

Summary: Dipali Goenka, CEO & Joint Managing Director, Welspun India Ltd made an announcement to provide equal opportunity for its female employees with a vision to create next generation of women leaders.

Under the ‘Women of Welspun’ initiative, the group will empower women workforce by providing an environment of growth and opportunities, institutionalizing progressive policies which will help women to reach the desired position. It is also undertaking up-skilling program for the women employees. Read the full article.

Dismissal of Employee with COVID-19 Concerns was not automatically unfair

Apr 28, 2021

Summary: Partner Sue Dowling, head of leading Thames Valley law firm Blandy & Blandy’s Employment Law team took a recent case to emphasis on the relationship between an employer and employee. The question under consideration was whether  it was automatically unfair to dismiss an employee who did not come to work, citing fears over catching the virus.

The tribunal in its proceedings mentioned that the employee need to raise concern with the employer in order to avert the dangers. The Tribunal recognized that employers who have incorporated protective measures and followed the Government’s guidance cannot allow continued absenteeism, particularly without any anticipated return date. Read the full article.

Technology and Humane Approach Together Evaluate Performance of Employees

Apr 28, 2021

Summary: Manoj Sharma, Joint President and Chief Human Resources Officer, Aarti Industries, maintains that it becomes important for organizations to recognize the efforts of their employees during performance evaluations, appraisals and bonuses. It brought an additional responsibility for line managers to engage with their teams to ensure they felt supported during a time of extreme uncertainty.

Empowering the managers to handle decision-making for their teams makes them future-ready and one step ahead. The key is to strengthen the digital base of HR and unleash the true power of HR Technology. He mentioned how the technology-based platform helped employees inculcate the habit of goal setting and cascading of goals. It helped linking individual goals to the organization’s mission, standardization of process, facilitating communication between employees and managers, and progress reports across the company. Read the full article. 

Vogo rolls out 4-day Work Week on Every Third Week of the Month

Apr 28, 2021

Summary: Anand Ayyadurai, Co-Founder and CEO, Vogo, the two wheeler rental service company, has announced a four-day week every third week of the month, thus, giving an extra holiday for the team to take time off for their work, or just unwind. He mentioned that the team come back to work afresh, leaving Monday blues behind.

The employees come with fresher perspectives, more gusto at work, engaging conversations beyond work which give visible results in the workplace. The CEO feels that work-life balance holds a great importance that helps the employees contribute with great spirit towards the success of the organization. Read the full article. 

War-rooms and Oxygen: India’s IT Companies scramble to handle Covid-19 Surge

Apr 28, 2021

Summary: The IT Giants in Bengaluru have set up COVID war rooms for their infected employees sourced with oxygen, hospital beds and medicines. The banking sector is also not far behind with Standard Chartered and Goldman Sachs putting in infrastructure to get their employees and their families vaccinated.

Technology giants such as Wipro and Accenture are working on 13-14 hours shift as several employees are struggling and falling ill. Read the full article.