Hi All,
I have joined a start-up where people are holding salaries of offenders but this has become a challenge as we have to process challans on time, so in place of holding salaries I want a solution about how to hold some security amount from employees in case somebody leaves with company assets on the day they receive salary i.e., 1st of every month. Now the company is a start-up, so finding new employees is a challenge too.
From India, New Delhi
1I have joined a start-up where people are holding salaries of offenders but this has become a challenge as we have to process challans on time, so in place of holding salaries I want a solution about how to hold some security amount from employees in case somebody leaves with company assets on the day they receive salary i.e., 1st of every month. Now the company is a start-up, so finding new employees is a challenge too.
From India, New Delhi
Hi,
My suggestion you can formulate and arrive at some Grade wise Retention Bonus amount ( apart from actual salary) which will get accumulated on monthly basis. Have some Policy in place with terms if the employee completes stipulated time frame he/she eligible for Retention Bonus amount. This will encourage employees to continue for long tenure and also reduce cases like leaving without information.
From India, Madras
My suggestion you can formulate and arrive at some Grade wise Retention Bonus amount ( apart from actual salary) which will get accumulated on monthly basis. Have some Policy in place with terms if the employee completes stipulated time frame he/she eligible for Retention Bonus amount. This will encourage employees to continue for long tenure and also reduce cases like leaving without information.
From India, Madras
Hi,
Thanks for your suggestion Mr. V.M.Lakshminarayanan. We had already formulated that, we give salary in 9:1, which means 10% is paid after completion of one year, but we cannot do that for sales people and they are the main offenders, that too falling in lower grade.
Thanks & Regards
Aashima Aggarwal
From India, New Delhi
Thanks for your suggestion Mr. V.M.Lakshminarayanan. We had already formulated that, we give salary in 9:1, which means 10% is paid after completion of one year, but we cannot do that for sales people and they are the main offenders, that too falling in lower grade.
Thanks & Regards
Aashima Aggarwal
From India, New Delhi
Hi,
Ok fine. What I suggest is apart from salary.. not holding part of salary. What ever you name it either Retention Bonus or incentive let some additional money get accrued and fix some realistic goal in place so that once they achieve it they can get some bulk money. Make it as cyclic process..
Also identify the root cause why employees are leaving. Have some training in place. Give a broader picture about scope of growth with the Organization if they continue for considerable period. Training require from supervisor to down the line employees. In most of the cases employees have a strong feeling that they are not being considered in decision making process. So Supervisors/Line Managers should be educated. Retention is a team effort and HR alone cannot do magic. But HR plays major role in identifying the underlying issue and working for solution.
From India, Madras
Ok fine. What I suggest is apart from salary.. not holding part of salary. What ever you name it either Retention Bonus or incentive let some additional money get accrued and fix some realistic goal in place so that once they achieve it they can get some bulk money. Make it as cyclic process..
Also identify the root cause why employees are leaving. Have some training in place. Give a broader picture about scope of growth with the Organization if they continue for considerable period. Training require from supervisor to down the line employees. In most of the cases employees have a strong feeling that they are not being considered in decision making process. So Supervisors/Line Managers should be educated. Retention is a team effort and HR alone cannot do magic. But HR plays major role in identifying the underlying issue and working for solution.
From India, Madras
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