Corporates today are adopting more family-friendly and flexible HR policies that help in increase profitability and become instrumental in retaining talent, say industry experts.
Some of the unique HR policies that are being adopted by corporates include leave pooling, adoption leave, free child care placement services, flexible timing, among scores of other such initiative, the experts said.
Accenture has started an "hours of work" policy, wherein an employee can donate his leave to his/her fellow colleague in case of a personal problem or a medical emergency. "It is a great concept and the kind of environment we are living today, colleagues at office are becoming like an extended family. This is a wonderful concept and will boost employee morale and camaraderie," Manpower Group India Associate Director Namr Kishore said. Another such innovative policy is adoption leave policy wherein corporates are treating adopted babies at par with biological babies and are offering leaves just like maternity leave. Country's leading tech players Tata Consultancy Services (TCS) and Wipro are believed to be offering adoption leaves to its employees. According to sources, TCS offers three months paid maternity/ paternity leave for employees for biological and adopted children.
However, it could not be independely verified with TCS. "All these policies help in retaining people. Because there is talent shortage and good people are available only at premium. Hence companies have to find out innovative methods to retain and attract talent," Ma Foi Randstad MD and CEO E Balaji said. Balaji added that "it is a method by which you can increase the motivation of employees, which in turn boosts the productivity of the firm as happier employees are more productive." Meanwhile, some of the overseas companies also offer free elder-care service or a baby-sitter, flextime options like cramming a five-day workload into four days, among others. "We are still lagging behind, but we are progressing and moving in the right direction," Balaji added. According to a recent survey by a leading provider of flexible workspace, Regus, a majority of companies surveyed believe flexible working hours have increased productivity. According to the survey, 87% of Bangalore respondents have said that they work more flexibly, both in terms of time and location than they used to. In New Delhi only 79% respondents said they work more flexibly followed by Mumbai (75%) and Chennai (73%), the survey which covered 600 senior business managers across the nation said.