How to Analyze Employee's Benefits?

Employee's Benefits?


Job needs analysis
Preparation detail job description/Specification
Budget allocation & Approval

Indicators:
It is observed that most of the hiring without job needs analysis and without preparation of job descriptions. It is strongly recommended to do need analysis of the job before going to advertise. 

HR needs to sit with relevant section heads to prepare the detailed job description i.e. tasks, skills, level of experience, and age and fitness criteria comprehensively.

It is also recommended to give full flag hiring responsibility to the HR section and no interference during the hiring process. 

HR will collect, scrutinize, and shortlist the most appropriate candidates for the next stage of the written test and verbal part of the interview and finally select the right person for the right job through transparency. Motivational Quotes For Work Success

As per organization personnel policy, it is mandatory to review the performance of newcomers after completion of the probation period, but this practice is occasionally observed. 

It is observed that in our personnel policy not drawing the assessment tools, usually, we using performance appraisal formats for this exercise. 

It is recommended at least 1 or 2 pages of the probation period review form be available in personnel policy with concrete guidelines. 


HR is responsible to issue formal confirmation letters after successful completion of the probation period. 

If any newcomer fails to perform up to the standard of acceptance, HR should responsible to issue contract discontinue letters within the mention time period.

Leave encashment benefit is available at all other ABC institutes except ABC. Now the HR installed a leave and travel record machine and correct staff attendance data are available with HR. 

It is suggested to reinstate leave encashment benefits to all regular and extended-term employees.

This is another useful benefit, especially lower staff to save their money if the organization allowed at least a one-time healthy amount to manage heating arrangements. 

Because of GBC weather always -20 in winter and much lower employee unable to manage their living standard and basic necessities

Since 2003 the benefit of gratuity was in the plan of benefits, but after 2003 restructuring this benefit was lifted from employees. Many ex-employees have a well-set business and managing their living things appropriately. 


This plan of benefit should help outgoing staff to maintain their living standards and be able to start a new window. Successful Interview Tips

ABC should offer above mention benefits to its employees to wake up their performance as a motivational tool. 

Transport allowance: the existing rates of transport allowances for lower staff grades 1-4 are not encouraging, keeping in view of high inflation rates in petroleum products fare rates are going high. It is recommended that the allowance should be increased as under:

Pick and Drop Facilities
Currently, there is no pick and drop facility available to lower staff. Only SMF-level staff are eligible to avail of this facility.

Management rethinks about this and makes the most appropriate decision to facilitate the lower staff, at least (happy and sad) occasions.

On the other hand, 18 seater coaster is available to pick and drop the staff, even if this is expansible, many staff are ready to pay their pick and drop expenses from their pocket. HR already conducts a short survey to get the staff’s point of view about the facility. 

As per survey findings more a less 70% lower staff in favor of payment pick and drop.  Leave. As per the calendar year, only 30 days are allowed to avail, but other organizations allowing 2 months' annual leave to staff.

As a human being, leave is mandatory for all employees across the regions. Due to harsh weather conditions in GBC, most of the employees feeling ill and bored. 

To uplift their performance, management should think about leaving either one month or two months including half salary leaves encashment annually. 

Paternity leave is only allowed first 2 births, it is recommended to lift the first 2 births condition because cares and another segment of life always continue.

It will be very helpful if, management decides at least one month's leave with an additional 15 days.


Leave Encashment.    
Promotion Pathway
Scaling Up Incentives

It is recommended that ABC should introduce a scale-up program in the organization for employees in grades 3&4 having above 10 years of experience. 

This group of professionals should be encouraged by giving a one-grade up-gradation incentive or 10% extra increments on the current gross salary. 

These incentives will boost up their morale as well as employees' job satisfaction towards job performance.

It is recommended to form a regional-level grievance committee. It is recommended all promotions; salary increases and intraregional staff transfer cases initially deal with by the grievance committee and submit all cases with their recommendation. 

It will decrease the unwanted workload in senior management. All cases deal with true spirit and review the background of all applicants. 

Currently, many employees are approaching directly to regional heads or even General Manager to discuss their issues, but this is no way to register their grievances. 

The grievance committee will check all applications and forward the most desirable application to higher authorities with recommendations.


Performance Appraisal System
It is observed that most supervisors not taking the seriousness of this important activity. 

As per policy, all promotions, salary increases, explanations even staff capacity building details mention in the performance appraisal form, but lack of supervisors and staff seriousness and even findings not incorporating in the paper for SMF and board meetings. 

This is the main reason, many employees thinking about PA exercise as a time-wasting activity. It is strongly recommended, in the future, all promotion, demotion, increment cases link up with the Performance appraisal indicators. 

It is recommended to deliver a short training to all PA conducting supervisors to take this seriously and put their score as per their subordinate’s performance. 

Make sure all the pages, boxes are filled with true spirit and set objectives for the next calendar year as per employer requirements. Moreover, mentioned the relevant training to build up staff capacities.

Currently, regional-level HR staff facing issues about approving authority. As per the Authority Matrix, Regional Programme Manager is bound to limit approval. 

Due to this all approval request forward to General Manager who have enough time to respond well on time, due to his own high-level engagements. 

It is suggested that to flexible the current authority matrix and allow the regional head to allow activities at the regional level. Management needs to review this and allow some approving power to the regional head.


As per organization personnel policy clause 4.14, a medical examination is mandatory for all newcomers. But in policy not specifying hospital and medical reps to examine the employee and mode of payments to examiner or hospital is not mentioned. 

It is recommended to sit with hospitals and negotiate about rates and fix penal to examine all new employees after their joining. HR core is responsible to notify the medical examiner.

HR keeping personnel files of all employees with all required particulars in hard form. Currently, most organizations using the HRIS system to keep updated their employee’s personnel records. 

As we have Scala in finance we need to install HRIS software also to keep an electronic record of all employees, for this, we need intensive training to build the capacity of Regional HR persons.

Separation of Annual Increment and Inflation:
As always done a lump sum increments are granted to all employees in a year without assessing the annual inflation ratio in the market. 

The organization should study and follow the government pattern of indexation in salaries after assessing the inflation ratio in June every year.


The announced inflation indexation in salaries should be effective from 1st July every year. For the annual increment, there should be fixed a percentage of increment according to the salary structure of the organization which is effective from 1st January every year.

Frequently Ask Questions


What Are Examples of Employee Benefits?

Life and Health insurances of an employee and his/her dependents
Paid time off (PTO) or Leave with pay such as sick days and vacation days.
Flexible and remote working options.
Life insurance Coverage.
Short-term disability.
Long-term disability.
Retirement benefits or accounts.
Financial planning resources.

Top 10 Employee Benefits for 2021
Financial Wellness Programs
Flexible Work Arrangements
Health Insurance Benefits
Paid Time Off
Mental Health Benefits
Family-Friendly Employee Benefits
Professional Development Benefits
Student Loan Employee Benefits

The most sought-after employee benefits in 2021 are:
Remote work. Flexibility to work from home
Healthcare. Family health coverage
Paid time off. Leave with pay in special circumtances
Flexible hours. task oriented
Paid family leave. annual leave
Four-day work week. 
Free lunch with 2 time tea in the office.
Student loan assistance.

What Employees looking from Employer?
Their study suggested that job alignment, leadership, and learning and development were the most important factors in retaining employees. 


They found that it wasn't all about direct managers – it's a combination of good management and good leadership that fosters commitment and creates happier workers

FULL FORM LINKS 

FULL FORM

OF BHU

FULL FORM OF 

ADM

FULL FORM

OF ADO

FULL FORM OF 

BAF

No comments:

Powered by Blogger.