Compensation and Employee Retention

The other day i was analysing on what motivates an employee to work for an organisation. I heard many of my friends say they no longer feel any challenge in the work and it became so routine that they are considering to change the job. Some of these people are high performers on the job and provided increments which are almost double to that of ordinary performers.

Today while reading a chapter on Compensation & Benefits I got the solution for my dilemma
The salary or the pay consists not of 2 parts (Cash Compensation,Benefits like health insurance, Vacations etc ) but 3 parts , the 3 rd one being the most important one and the often overlooked one "Relational Returns"
Relational Returns are the Recognition & Status,Security of job,Challenging work and Learning opportunities

Most of the times the companies looks at the first 2 parts of the pay and ignores the third. Even in case where consideration is given to 3rd part especially Learning opportunities and challenging work there is a difference in perception between what constitutes to be a learning opportunity or a challenging work between employee and employer

This also explains why people tend to help others in social networking sites (self example : I am very active on Pagal guy, from where neither i get any monetary benefits or special benefits except for the recognition, status and  respect from the aspirants ) .

So instead of having a narrow view of looking at limited options in having employee retention , we need to increase our scope and consider other options which are given less thought of

One guiding principle here can be that "if we travel in the same beaten path , we reach the same place every one else had reached"

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Team Building exercise-Innovative solution

We had Assessment Centre conducted for our batch today in which 16 people(divided into 4 teams of 4 each) participated . As part of one of the exercise we are supposed to come up with a plan to conduct team building exercises.

Scenario:

A Manufacturing firm contains 20 design engineers who are highly talented but have issues working together as a team. All Traditional HR team building workshops, outdoor team building activities failed . It is of utmost importance to the organization to imbibe team spirit in these individuals and hence the responsibility is given to us. The following is what was the result of our imaginative prowess and more so of one of our team mate(of 4 team members)

As the discussion progressed , this friend of ours , lets call him X(he would kill me , if I write his name ;) ) came out with a wonderful idea of creating a crisis as done in the film Chakde(where all the girls fight together in ice cream parlour and thus forms team bonding) and use the same funda here ..Now we started mulling over how to create a crisis

Now we have one other very very smart banda in our team , whom we will call “MCP”(as he prefers calling, and you would agree a few moments later) gave a wonderful idea of locking all the designers in the warehouse of the factory and creating a fire with cardboards and stuff ..(Yup..his ideas are a bit on the extreme side, and employees of his future organization..BEWARE)…Finally after some more thought process we decided using just smoke bombs and explosions outside the warehouse (locking the designers still remain the same) . One addition we have done is to introduce 2-3 firefighters and also 3 of us ( the only girl of our group opted out to take part in action, Girls are much smarter than guys :P)would be made part of designer group as new joinees and the entire drama in warehouse starts out with our supposed induction program

Well..seems my narration is very confusing even to me L..so before breaking down it into sequence of steps lets go back and justify why one of our team mate is MCP..when it is announced the designers are 20, he started discussion by saying “lets assume all 20 are men (ofcourse on the protest of girl he gave way for diversity by mentioning 10 guys and 10 ladies [the biggest mistake , which u would realize laterJ])

Now the sequence of steps are as follows:

<!--[if !supportLists]-->(1) <!--[endif]-->Get the designers to warehouse on the pretext of induction of 6 people into designing team( they do not have any hint of training program , as they had attended many similar programs earlier with no result)

<!--[if !supportLists]-->(2) <!--[endif]-->Once every one is in ,a crisis would be created with doors getting locked, power off, smoke bombs at areas of warehouse and explosion outside warehouse (don’t blame that Budding HR managers are getting spoiled by movies :P )

<!--[if !supportLists]-->(3) <!--[endif]-->Now our firefighters get into action and creates panic around and at the same time ordering groups of people to perform tasks like breaking ventilators,helping one another to escape through ventilators

Our objective is that “Life changing moments change people” and they would more appreciate the team work and jell well as a team with those who saved their lives

We made a presentation to the external observers and to the participants and every thing going so well, when all of a sudden our “X” gave wings to his creative talents (By the way , he is much better than RGV J )

So the Following presentation is given full credit to “X”:

Now 10 are women and 10 are men , and as women cant climb the ventilators on their won , they take the help of men and in the process we have teams of 2 developed :P :P

We had a lot of fun as we started with forming teams and finally ended up presenting an idea of forming Cupids in the team ;) J

Overall its fun filled session which culminated with group dinner at “AISWARYA” which was 50% sponsored by Satish Shukla :D :D

Would remain as one of the cherishable days of semester 2

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