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Managing and Rewarding Performance »
Rewards Special: Differentiation - The New Buzzword
By Nalin Singla, Global Head - Rewards, Ranbaxy Laboratories Limited
Feb 10th 2012
The growth story for India started about ten years ago with the technology boom. It was an excellent time as everyone was talking about more. There was a small bump in 2008 with the US realty meltdown, but as an economy we quickly got our act together and have been growing ever since, with the salary increments almost touching pre-2008 levels. The single biggest reason for this being, that the manpower costs in India traditionally have not been a major line item on the balance sheet, especial... Read more »
Rewards Special: Thought Leadership
By Paras Arora, Co-Founder & CEO, TriggerO
Feb 10th 2012
In the Indian diaspora, the basis of our business model is that we never invented something, which we felt was needed. The clients were in need of a certain solution and we created our models as per their needs. Companies have their rewards and recognition budgets and polices, but what they lack is an institutionalized framework and willingness from the top management. They have the budget but not the right people. They do not have innovative ideas and even if they have the ideas, they are not... Read more »
Rewards Special: Beyond Deals
By Mr. Partha Neog, CEO, The Deals Point
Feb 10th 2012
The definition of Total Rewards is presently more concentrated on rewards that are given on particular tasks and promotions in the form of redeemable vouchers. An organization is not giving extra special privileges if it is giving vouchers to its employees for traveling, shopping or dining. These are activities that they do in their daily life on a regular basis. Thedealspoint.com tries to bring additional value to it by giving employees extra benefits on their day-to-day needs and helps them ... Read more »
Rewards Special: Complete Digital Service
By Paul Shoker, Director & CEO, BenefitsPLUS
Feb 10th 2012
BenefitsPLUS was conceived in 2010 and has since then, been advising businesses on how to get opportunities, differentiate, manage cash, get into the market, etc. The concept arose out of the fact that even though Internet is being accessed by over 60 percent of employees in companies today, organizations are not really being able to implement their rewards and recognition programs effectively. There are no dedicated departments for this and the HR manager does not get the time to manage vario... Read more »
Rewards Special: Segmentation & Differentiation
By Puneet Swani ASEAN Business Leader Information Product Solutions, Mercer
Feb 10th 2012
In the coming year, there will be a clear focus on pay for performance, workforce segmentation and employee productivity. In terms of salary hikes, the double digit salary increase, which we witnessed some years ago, has lowered continuously. Today, salary increases in India are more in the range of 12-13 percent depending on the industry one belongs to. While salary increases will be seen across sectors, there will be a visible difference in the manner the increase is distributed. With lim... Read more »
Rewards Special: Rewards - A Part of Talent Management
By R. Sankar Executive Director, PwC
Feb 10th 2012
The year 2012 is going to be difficult for companies and this fortunately can be the best time for them to plan. In light of the present economic gloom, rewards are going to be most probably subdued and there might not be significant bonus payouts or increments. It will not be surprising if the average increase across levels remains a single digit, as there already are signs of subdued recruitment plans and companies are being cautious. This is also the right time for leadership in Indian comp... Read more »
Rewards Special: Peer Recognition & Visibility of Achievements
By Rohit Rawal, Co-Founder, QuadMo
Feb 10th 2012
The earlier notions of rewards and recognition are undergoing a significant transformation. Merely giving an employee a gift or merchandise is not generating the expected engagement, nor the return on investment as planned. Rewarded employees today primarily look out for a lot more peer recognition and especially direct visibility from their senior management. Employees also expect a much higher frequency of recognition and are not always satisfied waiting till the end of the quarter or the ye... Read more »
Rewards Special: Intangible Benefits
By Sandeep Banerjee, Managing Director & Chief Executive Officer, Edenred (India)
Feb 10th 2012
Edenred does not just look at tangible benefits, but also at intangible benefits. There are four pillars that are considered as the basis or elements of Total Rewards and they are compensation, benefits, environment and development for employees to enjoy the time they spend in the organization and the development and learning potential of employees. Total Rewards is an emerging concept, which is gaining traction in most organizations.Medical reimbursements, health insurance and paid leaves, fo... Read more »
Rewards Special: Employee Wellness
By Dr. Sumit Dutta MD, Vice President and General Manager – Quest Diagnostics
Feb 10th 2012
Studies have shown that health problems increase healthcare costs by as much as 25 percent. Employee illness has an adverse impact on the productivity, which eventually impacts a company’s bottom-line. As a result, identifying health risks becomes important for companies to consider. Workplace wellness activities are already a well established practice in the west.The issue for Indian companies is more critical. India has the world’s highest number of diabetics. Cardiovascular dise... Read more »
Rewards Special: Technology Enabled Systems
By Sonali Roychowdhury, Head HR, P&G
Feb 10th 2012
There will be a paradigm shift in the way Total Rewards is perceived as a whole. Compensation and benefits need to be seen as part of a broader framework of the Employee Value Proposition (EVP) and has to be nailed to the talent strategy of the company, which in turn is linked to performance ultimately.Going forward, there will also be more focus on segmentation. Looking at the diversity within organizations, in terms of gender, age, etc., the expectations of each of these groups are different... Read more »
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