With talent acquisition and retention as top priorities, startups, SMEs and unicorns to focus on wellness, flexi work models, and diversity and inclusion, new ways of recruitment, among other things.
In a recent interview, Aditi Mittal, Group Head HR, SAVE Solutions Pvt. Ltd. shares how they are redesigning employee value propositions to create an attractive employer brand.
What does it take to build and scale an innovative business? What role has talent played in your success?
There are various factors that play an important part in building and scaling the business. Developing strong processes and systems amongst the team and ensuring that these processes are being followed is very important for the smooth functioning of any organization. The company should constantly evaluate its success and failure in every segment and should be aware of what is being done by its competitors in the market.
Hiring the right people and retaining them in the company is one of the most important factors. People who have the required industry experience and skill sets play a major role in building a successful company and growing it to the next level.
The relevant human resources come with a bank of networks, vendors, market trends, and data that helps in supporting the organisationin moving towards the right path. We at SAVE Solutions ensure that regular training is being provided to all our employees as per the need of the business.
We also make sure to provide an environment of motivation rather than fear that enables our employees to take initiative and work without experiencing pressure.
How has talent development fueled growth for your business?
At SAVE Solutions, we believe in investing efforts and time for regular training, upskilling, and promoting our talent. We ensure that all our employees feel that the company premises are a safe and happy place to work at.
Regular opportunities for professional growth such as merit-based appraisals, inter-departmental promotions, and transfers as per need, help the employees feel connected with the organisationand also make them feel motivated toward achieving the common goals of the business. This not only helps in the development of the talent but also aligns their growth with the growth of the company.
What are some major changes you have introduced in your HR policies in the recent past?
As an organization, we value all our employees, and to support them with a good working culture we have brought in some major changes in our HR policies.
Bereavement Leaves: Employees can avail these leaves to grieve in peace, in case of a personal tragedy.
Compensatory Leaves: In case of overtime, employees can request a compensatory off.
Sabbatical Work: In case of the requirement of a break for any personal or non-professional needs, the employee can take a sabbatical from work, and rejoin at the same position post sabbatical.
Work from Home: To support flexibility in case of need.
Menstruation Leave: Menstruation Leave Policy, which we can proudly claim is an industry-first initiative by our brand helps us create stronger employee relations and promotes a better environment in the workplace. One day paid Menstrual Leave policy helps to support female employees and make the workplace more inclusive.
Mandatory Leave: Mandatory Leave Policy has been implemented for our employees which will not only give employees the chance to recharge their mental and physical well-being but will also help the organisationin rationalizing the workload of the employee.
Salary Advance: Any employee who needs financial support can take salary in advance.
How has the role of HR evolved in these years as you grew from two people to 3000+ employees?
As the company has multiplied many folds now, the journey has been extremely rewarding. As a company, we have become more organised, we have defined our processes, SOPs, and policies, and have moved from manual HR to HRMS (online). We audit our internal systems and processes and are more focused on workplace branding to attract and retain talent.
How are you exploring various technologies to improve your employee experience?
We have recently Digitised HR systems and we provide end-to-end digital HR management. Our NBFC-MFI is one of the very few MFIs to have this mechanism.
Our hiring drives have a QR code for scanning and uploading documents, the data is then later used for employee shortlisting. We also provide digital training to our employees. With the introduction of digitised mechanisms and various software that have helped in Human Resource Management, we are witnessing an exciting time for organisational development. We use software, AI, HR Analytics, and Digitalisation processes for Hiring and other HR activities.