The Great Chinese Debt Binge
The global financial system is in the middle of a manufactured boom. Earlier, the economies would boom on their own based on the underlying fundamentals. However, in the present scenario, the boom is 100% manufactured by central bankers that are using every trick in the book and some more to create the perception that the […]
Terrorism and Insurance
Terrorism is a grave risk that is being faced by the entire world. When an event related to terrorism occurs, the losses faced by certain individuals or groups of individuals are catastrophic. The loss of human life is an obvious and sad outcome of terrorist attacks. However, the financial losses can also be significant. Increased […]
After Effects of a Poor Employee Retention
Employees are the major assets of any organization. An organization can’t survive if the individuals are not focussed and serious about their work. The success and failure of any organization depend on the hard work put by the employees to achieve the targets of the organization. It is a common observation that employees who spend […]
Demand Forecasting – Meaning, Objectives, Classification & Characteristics
Forecasting For an organization to provide customer delight it is important that organization can understand what customer wants and how much does they want. If an organization can gauge future demand that manufacturing plan becomes simpler and cost effective. The process of analyzing and understanding current and past information to understand the future patterns through […]
The World of Private Equity
The term “private equity” evokes many emotional reactions. Many investors have made a lot of money thanks to the strategies being followed by private equity companies. However, many companies no longer exist because of these private equity funds. The investments being made by these funds is rapidly growing. Private equity funds have a lot of […]
What is an organization without its employees? Nothing. Employees are said to be the true assets of an organization. Even the best of technology or best of infrastructure would not be of much use if employees do not perform up to the mark and are not satisfied with their current profiles.
As they say, “charity always begins at home”. The first and the foremost responsibility of an organization towards its employees is to ensure that they are happy and satisfied with their jobs.
It is unethical to treat employees as mere machines and expect them to work continuously for eight to nine hours at a stretch just because they are being paid. Do not treat your staff as labours.
Management needs to ensure that individuals associated with their organization are actually enjoying what they are doing and also growing with time. Job profiles ought to be delegated equally as per expertise, knowledge and educational qualification of individuals so that no one is overburdened.
Provide healthy working conditions to your employees. Assign proper workstations or cubicles for them to work comfortably and eventually deliver their level best. Everyone needs some amount of privacy and make sure your employees get the same; else soon they would be frustrated with their job and look for better opportunities.
Sit with your employees from time to time and try to find out whether they are happy with their job or not and if at all they are facing any problems in the system? It is the responsibility of the management to look after the safety of its employees. Ensure your office building is resistant to fire and earthquake. You can’t play with the lives of so many individuals.
Till the time an employee is on official duty, it becomes the responsibility of the organization to assist him/her in case of a medical emergency or other serious concern. If one of your engineers gets hurt at your site, it is your responsibility to immediately take him to the hospital and provide basic medical assistance.
Crisis can come anytime. If an employee asks for some advance from his/her salary, please do not say a blunt NO. Analyse the whole situation and find out how serious the whole issue is? He/she might need some money to treat his/her ailing father. It would be really inhuman to deny help during such circumstances. I don’t think there should be much of a problem in this; after all, he is asking money from his own salary only.
God forbid, if any of your employees dies, make sure you extend your sympathies and support to his/her family members to cope up with such an irreparable loss. Whenever your employees need your help, make sure you are there with them. A feeling of loyalty towards the organization comes only when the management treats all its employees as part of one big family and takes good care of them.
Stand by each other not only during happy times but also sad moments. Remember; the fun is to enjoy not only the happiness but the challenges together.
Encourage employees to praise and appreciate each other. Give them ample opportunities to show their talent. Provide them an environment where they can hone their skills with time. Problems arise when management puts a full stop on the growth of employees. Ask them to interchange roles, so that everyone gets to work on something new.
Timely appraisals are important. It is the responsibility of the management to ensure that employees who are working really hard and showing progress are suitably rewarded.
Incentives, cash prizes, bonuses go a long way in not only motivating the employees but also creating a healthy and positive ambience at the workplace.
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