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Summary of practices
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Safe, Healthy And Happy Workplace Open Book Management Style Performance Linked Bonuses 360-Degree Performance Management Feedback System Fair Evaluation System For Employees Knowledge Sharing Highlight Performers Open House Discussions And Feedback Mechanisms Reward Ceremonies Delight Employees With The Unexpected
1. Safe, Healthy and Happy Workplace
Creating a safe, healthy and happy workplace will ensure that your employees feel homely and stay with your organization for a very long time. Capture their pulse through employee surveys.
2. Open Book Management Style
Sharing information about contracts, sales, new clients, management objectives, company policies, employee personal data etc. ensures that the employees are as enthusiastic about the business as the management. Through this open book process you can gradually create a culture of participative management and ignite the creative endeavor of your work force.. It involves making people an interested party to your strategic decisions, thus aligning them to your business objectives. Be as open as you can. It helps in building trust & motivates employees. Employee self service portal, Manager on-line etc. are the tools available today to the management to practice this style.
3. Performance linked Bonuses
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.
4. 360 Degree Performance Management Feedback System
This system, which solicits feedback from seniors (including the boss), peers and subordinates has been increasingly embraced as the best of all available methods for collecting performance feedback. Gone are the days of working hard to impress only one person, now the opinions of all matter, especially if you are in a leadership role (at any level). Every person in the team is responsible for giving relevant, positive and constructive feedback. Such systems also help in identifying leaders for higher level positions in the organization. Senior managers could use this feed back for self development.
5. Fair Evaluation System for Employees
Develop an evaluation system that clearly links individual performance to corporate business goals and priorities. 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. For higher objectivity, besides the immediate boss, each employee should be screened by the next higher level (often called a Reviewer). Cross - functional feedback, if obtained by the immediate boss from another manager (for whom this employee's work is also important), will add to the fairness of
display boards etc. Looking at the Dollar Check is often less significant than listening to the thunderous applause by colleagues in a public forum. nurture and execute great ideas. It will encourage others to put in their best. Today. you need to couple it with ceremonies where recognition is broadcast.the system. Store knowledge in databases to provide greater access to information posted either by the company or the employees on the knowledge portals of the company. Relative ratings of all subordinates reporting to the same manager is another tool for fairness of evaluation. . Delight Employees with the Unexpected The last but not least way is to occasionally delight your employees with unexpected things that may come in the form of a reward. Normalization of evaluation is yet another dimension of improving fairness. suggestion boxes and ideas capture tools such as Critical Incidents diaries are the building blocks that can help the Managers to identify & develop talent. Highlight performers Create profiles of top performers and make these visible though company intranet. It has always fostered a growth-oriented environment enabling all its employees to fully realize their potential. thereby creating a competitive environment within the company. 9.what to store & how to maintain a Knowledge base requires deep thinking to avoid clutter. 10. Great organizations recognize. Innovative ideas(implemented at the work place) are good to be posted on these knowledge sharing platforms. 8.employee-management meets. If a systems approach is followed to shortlist high performers. When an employee returns after attending any competencies or skills development program. 7. Open house discussions and feedback mechanism Ideas rule the world. Reward not only the top performers but also a few others who are in need of motivation to exhibit their potential. Open house discussions. EmpXtrack team is always available to provide you with systems which are synchronized with your HR processes. Reward Ceremonies Merely recognizing talent does not work. 6. teamwork and professionalism have come together at Raymond to weave tales of the finest Fabrics for over 80 years. Raymond Hr practices Craftsmanship. Employees are the biggest source of ideas. Knowledge Sharing Adopt a systematic approach to ensure that knowledge management supports strategy. a gift or a well-done certificate. you can surely avoid disgruntlements. EmpXtrack' is a composite HR solution which helps in the institutionalization of most of these best practices by utilizing software tools. The company has always emphasized on the continuous and consistent upgradation of manpower in order to fully embrace the rapid changes in the textile industry. However. sharing essential knowledge with others could be made mandatory. The only thing that can stop great ideas flooding your organization is the lack of an appropriate mechanism to capture ideas. it has gained its market leadership position primarily on the strength of its vast talent pool.
Talent from Campus Raymond recruits young textile engineering graduates. Feedback is shared on an on-going basis and reward and recognition are linked through measurement of Key Result areas. There is great emphasis on behavioral and attitudinal training apart from technical and on-the-job training. The participants will be trained at Welingkar Institute of Management Development & Research. A Mentoring programme for new inductees in the organization enables them to adapt themselves to the organization. during which they are placed across different departments. At Raymond. Organizational excellence is achieved only through continuous investments in growth and renewal of human resources. subordinates and internal as well as external customers. They are then rigorously trained for a period of one year. Lateral Recruitment 'Market-skilled' employees from other companies are periodically inducted into the organization from time to time. A detailed training and development plan is drafted and implemented each year. Developmental needs and future potential are established through assessment centers and on-line testing . A combined force of existing talent and induction of fresh blood helps the company to be competitive in the face of increasing business complexities. This is done by notifying vacancies internally. This enables the management to prepare their employee's individual development plans by understanding their potential. Good performers are promptly recognized and rewarded. Mumbai followed by sessions back home over the next six months. before being finally placed in their area of specialization. chartered accountants. an Performance Management System provides opportunity for employees to explore their potential for professional growth and personal development. interests and goals . The objective of the programme is to gauge the recruit's area of expertise and then train them to independently shoulder their responsibilities. fashion technologists and MBA's only from some of India's leading Institutes. 360-Degree Feedback System A 360 Degree Feedback System provides senior managers with valuable inputs through assessment from their colleagues. Raymond Management Development Programme The Raymond Management Development Programme (RMDP) provides participants designated from various divisions at Raymond with basic and advanced management perspectives and an opportunity for self-learning.Internal Resourcing The company first scouts for talent within the organization to provide growth opportunities to its employees. which comprises level-wise planned interventions as well as specific need-based interventions through Training Need Analysis. This practice helps in managerial cross-functional exposure for career development and learning. This equips the team to excel in their current roles while also preparing them for future roles. textile technologists.
housing. recreational and spiritual support systems for its people. The Raymond Interchange. Latent creativity among organizational members is tapped through initiatives like Kaizen. Usage of the internal branding concept throughout the Group also plays an important role in driving employee involvement. . Quality Circles and Suggestion Schemes in units.K. Wherever Raymond has created industry and employment. Open forums provide opportunities to employees to share their views regarding people policies. sound decision-making and developing an open and transparent organization. at 50% of the fees. the company always strives to make employees feel a part of the large Raymond family. Employees' children have the facility to enroll themselves in the schools run by the J. a think-tank of the Co's top management group. An online HR Manual brings transparency in HR processes. From subsidised transport facilities or availability of Raymond products at concessional rates to its employees. In many cases. is an on-going initiative which harnesses the collective views on business strategy and is one of the drivers of employee involvement. children's education is absolutely free. This ensures a foundation of people centric policies. We are proud of the fact that we are one of the most empowered organizations in terms of decision making down the line.Employee Involvement Raymond believes that employee involvement is the key to continuous improvement. it has also provided educational. Trust.
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