"If you pick the right people and give them the opportunity to spread their wings - and put compensation and rewards as a carrier behind it - you almost don't have to manage them." -Jack Welch
Compensation-“Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. Compensation may achieve several purposes assisting in recruitment, job performance, and job satisfaction.”

Compensation is a tool used by management to maintain efficiency. The labor market is highly competitive and war to retain and attract best of the talents is on peak. Therefore to develop revise and amend an equitable compensation plan periodically and link it with the emerging business needs and strategies is vital. Accordingly, the objectives of compensation plan are to:
• Recruit and retain qualified employees.
• Increase or maintain morale/satisfaction.
• Reward and encourage peak performance.
• Achieve internal and external equity.
• Reduce turnover and encourage loyalty.
These major objectives are directly correlated to the fairness and competitiveness of compensation.


Current compensation trends in India
• Average salary increase (6.6 %) dip across all employee levels during 2009. It was for the first time in six years that India saw single digit salary increases due to downturn.
• Rise in the variable component.
• Sharper performance differentiation and the two most critical areas for companies to focus on are leadership and communication.
• One of the greatest challenges for a company during a financial crisis is in retaining and motivating its workforce, particularly the top performers.

Pre Employment Screening

In an attempt to grow and expand, Large as well as Small Medium enterprises (SME) in India and abroad, are continuously looking to add more manpower to their organization.

The onus of selecting the right candidate lies primarily on the HR Executive who uses his experience and expertise to evaluate the candidate. A direct interaction with the candidate speaks volumes of his personality. However, a more in depth evaluation of the prospective employee is a must.

What is Pre Employment Screening?
As the name suggests, it is the process of screening / verifying a person's background information prior to employing him in your organisation. It has become imperative to confirm and re confirm a persons’ background, his character and his proposed experience. Pre Employment Screening (verification) aids in eliminating such risks as work place violence, internal thefts etc. Hiring an undeserving candidate can unnecessarily increase your training and recruitment costs, harm your organizations’ harmony and put confidential information into jeopardy.

Failure to conduct a background check has multiple negative repercussions which can well be avoided through a well balanced pre employment screening program.

BENEFITS OF SCREENING
Organizations in India as well as those abroad can benefit tremendously from an employee screening program. Decreased turnover, reduced expenses and elimination of risks of theft and fraud are just some of the advantages. Being an employer, it is up to you to provide your employees a safe and secure working environment. Hence, it is your job to reject those people who might have a violent or criminal record.

Make use of pre employment screening policies and show that you have exercised due diligence in the hiring process.

OUTSOURCE YOUR EMPLOYEE SCREENING NEEDS

Many organisations outsource the entire screening procedures to an agency that specializes in doing so. This helps them to –
• Save time, energy and resources in learning the screening process and instead concentrate on running their own business, something that they do best.
• Absorb the new candidate and grow with him. Since the specialists have already completed a thorough background check, there is nothing left to worry about.
• Help the HR department to concentrate on their core competencies.
• Furnish the reports put together by the screening team as a legal document at a later stage.

Men Outnumber Women in Workplace: Fair or Foul Play?

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When perceptions influence thought than facts, the result is nothing but bias - Bias in the matters of capability, career advancement and recognition.

Yes, women are facing a high degree of gender bias when it comes to their career. There is a general perception that women are less capable than men in matters of business and decision making. Almost 40 analytical studies have disproved these claims and have established that women and men are at par with each other.

Is gender bias hindering a woman's career advancement?

It is often a strenuous struggle for a woman not just to prove her mettle but also to make a deserving way to the top. Career publisher Vault.com reported that at least three-quarters of women still believe that it is a thorny path for women to advance in their workplace.

Even though women perform well at managerial levels, we get to see a very meager percentage of them in top decision making levels. Many women have reported that they have faced gender discrimination at some point or the other in their career. Let's see some of the hindrances that a woman faces.

• She is taken less seriously
• She is considered unfit and is denied challenging roles
• Her leadership capabilities are undermined
• She faces gender discrimination from the time of recruitment
• Reports say that at least 30% of women are facing pay bias
• Her family responsibilities are considered as hurdles to her professional commitment
• Her career goals are considered less important compared to her male counterparts

If women in the most economically advanced countries like US are facing discrimination, then we can imagine, or rather can't imagine, what it would be in the lesser developed nations.

Why a woman is considered less capable?

The plain fact that we are still living in a patriarchal society answers it all. Gender discrimination at work is only one among those innumerable disparities that a woman comes across. So the blame is not just on the corporate world, but society at large.

‘Catalyst', a research organization in the field of empowering women, conducted a research which says that men are skeptical about women's ability in problem solving and found themselves superior in this behavior. A misconception that her judgement skills are poor also prevails.

What can corporates do?

Corporates can contribute to a woman's struggle a fair treatment. An unbiased work culture is the responsibility of every corporate which does not want to miss out on highly potential talent pool.

• Let efficiency and capability be judged on the basis of performance and not on the basis of gender
• Provide equal opportunities for men and women for growth in your organization
• Implement equal opportunity policies
• Cultivate a work culture wherein employees do not discriminate each other
• Encourage women to take up challenging responsibilities
• Avoid gender bias while recruiting
• Avoid disparities in the matters of pay
• Have laws and policies in place which punishes discrimination and sexual harassment.

Women do realize that gender equality is still the toughest battle they are fighting and things will not change overnight. A thorough change in the mindset of people is the most required solution to give equal and respectable opportunity for women. But how long will such a change take to happen?

Expect the Unexpected

How do successful business executives stay on top of the game in an ever-changing global marketplace? By being prepared for the unexpected. When senior management and executives are up-to-date on industry movement, they are better prepared to know when to act and when to wait. Just as investors must understand and learn when to act in the stock market, so too do executives need to understand which industry changes necessitate action.

Successful corporate leaders are not necessarily those who are able to motivate the troops to excel, but rather, those who are able to anticipate and react to change. This executive understands the current business climate, and has a thorough understanding of the management team's capabilities. Signs may point in a clear direction for an industry to head, but is this the best direction for a particular business? This is a fine line to walk, and executives who are skilled in researching industry trends, keeping up with all types of technologies, and are able to handle the unexpected will be the ones who can lead a company into the next phase.

1. Ensure Senior Management and Executives Keep Their Fingers on the Pulse of Their Industry
While it seems like common sense, the simple act of keeping up on industry trends is too often overlooked. Those in executive careers are overworked, over-focused, and too busy developing the next big thing of their own. But what is going on in the industry while your company is buried in its own projects? The perceptive executive knows that it is essential to keep a finger on the pulse of the industry. This includes current trends,projected directions, and of course, what the competition is doing.

Successful businesses are often those who develop a niche and do this best, whether it is develop a product, provide a service, or a combination.However, these companies also seem to know when it is appropriate to expand. What about less successful companies? How often have start-ups gotten off to a great start, only to fizzle out a few months later?

The difference is finding the balance between the core products or services and the new options that show real--not simply hyped--potential. The only way this can be determined with some degree of accuracy is to keep watch over the industry on a regular basis, from observing historical trends to watching which of the latest developments show potential. Many executives get themselves and their companies into trouble by trying to do too much. It is not possible to "hit" every trend that comes your way, no matter how tempting or how big the financial payoff appears to be.

2. Don't Overlook the Short- and Long-term Benefits of Technology

Technology affects all aspects of your business, regardless of whether or not you are in a technical business or not. Corporations of all size rely on a wide range of technologies on a daily basis; a simple breakdown in one area can hold up the rest of the company in very short order. Just as the breakdown of a single machine on a manufacturing line can put a halt to production, so too can a breakdown of the simplest technology create costly difficulties.

Just as the corporate executive needs to have a solid grasp on the direction of his or her industry, so too does this person need to have an understanding of both short- and long-term benefits of technology. Knowing when to act can save or cost the company millions of dollars.

Those with executive jobs need to understand the benefits of a technology in order to make a wise decision on its use. Many current technologies are enticing, promising quick results for a fraction of the cost. Nevertheless, will these technologies be around for the next few years? In many ways, there is no excuse for an executive not to know whether a new development is worth the investment. Information on new technology is everywhere, in many forms, such as online, in books, magazines, presentations, and word of mouth, just to name a few.

3. Is it possible to expect the unexpected?

Of course--anyone can say they're ready for the unexpected. Having an idea what the unexpected will be is quite another matter, which is why it' so important for executives and senior management to conduct ongoing industry research and stay current on technology. Effective leaders have a clear sense of where the company is going and have a plan in place complete with contingencies. Expecting the unexpected means planning for the unexpected.Successful executives understand where the company is in its business cycle and plan accordingly. An established company may be better equipped to take risks, for example. If senior management is prepared for both success and failure, with plans in place for all scenarios, the unexpected may not come as such as surprise. In other words, forecast what's to come and modify your operations, administration, sales and marketing, and customer communications to accommodate it.

Encourage all executives and members of senior management to stay vigilant on industry developments. Promote communication between all corporate departments and compare notes. Use the combined information to make as accurate of forecasts as possible.

JOB MARKET FOCUSING AT INDIAN COMPANIES OVER MNCs

Indian companies are getting recognized in the global arena so more and more people are getting attracted to opt for jobs in Indian companies rather than MNCs. Although working in MNCs had great value on the CV earlier but with Indian organizations gearing up to attract quality talent the competitive edge that MNCs enjoyed in the job market has been shared. Factors like higher salaries, structured training and induction programme, stints abroad, workplace benefits like gym , relishing food varieties at cafeteria as well as the brand equity are usually associated with MNCs but if we look into Indian companies like Godrej, Dabur, HCl all tend to offer the same or better benefits many times.

It is seen that MNCs prioritizes on the employee benefit schemes to provide them a healthy work culture to grow personally and professionally which is again another reason that youth prefer MNCs rather Indian firms to work with. Since at junior levels, people want to build skills so the emphasis is on who provides the best training and learning opportunities – areas where traditionally MNCs excel. Although in the long-run, working in domestic firms in the early years in career and can continue to explore the possibilities of working individually. MNC's have lesser scope of an individual being developed into an owner. But as people move up in the corporate ladder issues like flexibility to innovate, opportunities for making a significant difference in the business etc becomes the need for people and possibilities of such aspect can be better explored in Indian companies. For instance, Sriram Jagannath who is heading Bharti Airtel’s mCommerce initiative joined Indian telecom industry in 2009 after a 20 years stint with CitiBank. And he is among half a dozen senior executives who have joned Bharti Airtel from various MNCs around the globe.

If we look into the premier B-school like IMM-B’ 2010 placement season, more than 40 Indian firms were invited –double the invitees a decade earlier. Moreover Indian companies have come to realize that human resources are an important asset -their skills and abilities cannot be easily replicated by competitors so companies like HCL Technologies follow the ‘employee first-customer second’ approach.

So…..friends…as placements are knocking at the door…..have options open …..and keep going !!!!!!!

LIFE can be FUN...

It's OK to want to have fun in everything that we do in our life... It's not selfish, insensitive or self-centered rather it's natural, normal and healthy... Every aspect of life goes better with fun... It can lubricate even the most tedious chore and can infuse even the most serious of situations with the lightness of love...

Here are a few actions which I think would help to keep our day light...

1. Practicing random acts of connection: Reach out to others... When we give, we feel more connected to people around. And if you don't feel motivated for this, think 'selfishly'... Buy someone a cup of coffee or let another driver past in front of you... You are in the fast track to feeling good!

2. Make at least one 'just-for-fun' phone call a day: Call a good friend who is consistently fun to talk to... Not for business or to have any of your needs met, but just to say a hello without any expectations.

3. Invite surprises into life: Our life has been secretly structured by our soul to bring to us the best experiences... The whole of creation is conspiring to bring us goodness... And unpleasant situations are placed in our path in life to help us grow big enough to embrace even them.

4. Seek wonder: Don't dwell on the old... But move towards fun, joy and ease... Don't try to run away from boredom, loneliness, fear and struggles but whatever may happen focus on the destination.

5. Rejoice every step in the way: Break down larger goals into smaller manageable steps and take up at least one task a day no matter how minor it may be... Focus on the advancement you have made just as the distance you would like to cover.

6. Give up on perfectionism: Perfectionism leads to fear of success or failure... And by being perfect, we'll never be satisfied with who we are. See the good in our lives rather than the faults and focus on what is working rather than what is not... See the positives in life.

7. Take a daily mini vacation: Take out half an hour everyday to do... Nothing. Relax... Do not race against the clock or do anything productive... Slow down... Our spirit becomes free and more creative.

8. Learn to say 'No': Saying 'No' to things that are not intuitively right for us, we are actually saying 'Yes' to ourself and to the people and values that mean the most to us... We are no longer tied up with disharmonious and non-aligned situations and are more free to share our joy and happiness with the people and the world around us.

9. Create more room in your life: Rearrange the elements in your life to create more space to nurture the fun, freedom, opportunities and effectiveness you desire... Clearing out the old and dead elements creates a vacuum for new and fresh ideas and energy.

10. Share your experiences: Personal experiences can be valued by others... We thrive to feel that we are valued and have left the world a better place at the end of each day... And remember, happiness comes from sharing our happiness...

Joy defies the laws of economics... It's not something that we have less of when we give it away... It grows greater in the giver, the more he gives it out...

The more you give, the more you have!

Picketing

Picketing is the activity that is carried by the employees during strike,it is signified by employees carrying signs announcing their concern near the employer’s place of business. Its purpose is to inform the public about the existence of the labor dispute and often to encourage others to refrain from doing business with the struck employer.
In such cases employer make different kinds of responses when they become the object of a strike. One is to shut down the affected area and halt operations until the strike is over, A second is to contract out work in order to blunt the effects of the strike. A third response is to continue operations, perhaps using supervisors and other non-striking workers to fill in for the striking workers. A fourth alternative is hiring replacements for the strikers.
For HR managers the importance of picketing lies in the capability of sorting out the problem and avoiding the consequences of picketing on the daily business activities. he experts views to solve such issues are-
1. Paying the strikers the amount that company owes to them on the very first day of the strike.
2. Negotiating with the striker keeping in mind the benefits and wellbeing of both the parties.
3. Keeping a ready pool of substitute workers to take the job in absence of striker in order to avoid effect on job and productivity.
4. Keeping the legal issues in mind and taking actions accordingly.