Innovative Hr Practices by Organisation Across Different Sectors

Innovative HR Practices by Organisation across Different Sectors Introduction Companies are taking up tidy sum-related initiatives as there is a need to manage human resources advantageously, so as not to lose the competitive edge in giving that they have built. In managing their human resources, companies have m and again focussed on values, invested in personnel, emphasized on meritocracy and consequently attaining excellence in HR processes. Innovative Practices of Recruitment and Selection * Second career Internship scheduleTata SCIP was launched in March 2008 on International Womens Day . It is a career transition management broadcastme for women professionals who have taken a break of 1-8 years for any reason, and wish to re-enter the professional space. * safekeeping on to the employees Quatrro BPO Solutions has nurtured a concept of keeping in touch with spirited performers who leave the concern and hone in them, whenever they want to come back. * fashioning use of pre hiring Process Genpact, the BPO pioneer, uses a pre-hiring process to aid in sensational attrition.The organisation brings commonwealth before they join, and have them look at the workplace. If the people choose to join, that reduces potential attrition. * Checking the Profile on Social Networking Sites Organisations are pursing the chances profile on sites such as Face hold up and LinkedIn. Once a candidate applies, his social behavior is traced. The persons social Skills fix if he fits the job. This practice has also started in India. Innovative practices of Reward and credit ratingIn todays competitive world, rewards and recognition plays an important use of goods and services in motivating and retaining employees. Rewards and recognition is an important part in each HR plan these days. Rewarding the high performing and motivating others to pass away such is becoming mandatory in IT & BPO industry. 1. Giving Store Vouchers interchangeable Shoppers stop, life style etc. 2. Giving cash prizes. 3. Giving articles (wide compass of durables as per the level of performance). 4. Organizing holiday trips. 5. Article Gifting Innovative Practices of motif Giving Freebies Every weekend, people working at Coco-Cola Indias Gurgan thinker quarters received for liters of company beverages free in a program called weekend funda * Providing Dependent Insurance The biggest employee benefit, HSBC provided to its employees was 100% hospitalization benefit for employees teammate and children. * Offering Stock Options iGate is among a few firms, that has continued to stumbleer line of products options to its employees. There are longterm investment measures for weeding, families, even retirement. Making use of medicinal drug Raymond Limited Hosted Music events to its employees. Dream Circle is a group of people with different skill set who play percussion instrument in freestyle but produce a harmonized rhythm in the end. * Treating as Guest At Marriot Hotels Ind ia, The employee usually join the hotel in the batches. The hotel grates six off days every month, something uncommon for the hotel industry and there is also gauzy system of compensatory off, * Launching Employee Assistance ProgramHSBC initiated the Employee Assistant Program(EAP) to assist in coping with trauma and stress post 26/11. Innovative Practices of toll Cutting * Offering Sabbatiacal Package * Offering VRS * Compulsory Leaves Innovative Practices of Traning * Providing classroom Curriculam * Empowering Young Executives * Encouraging a culture of Innovation * Watching lead Conclusion To conclude, it can be said that those companies that have invested considerable time and resource in building a solid human working capital management foundation are better positioned to weather the strom.