Byzantine said...
Although organizations, specially those in the services sector, began to sit up and take notice of the increasing rate of attrition from quite some time ago, it is only a select few that have moved beyond the almost "standardized" benefit plans (the ones which every Tom Inc, Dick Inc and Harry Inc provide) and have come out with innovative ones of their own.
A leading IT/ITES organization based out of Gurgaon did a profile study of their employees and found that a majority of them were in their 20's and early 30's and with partners (married or otherwise). One of their benefit plans involved dishing out two tickets for a weekend show in PVR Priya. Similarly, another one based out of Bangalore found that many of their managers had young kids, and hence the organization started with a creche facility of its own.
One can find such examples in the corporate world, however surprisingly the number of instances of organizations adopting such innovative benefit plans, though on the uprise, is still few and far between, specially in India.
A friend of mine was recently looking to book a car in order to save some tax, but his organization's policies didn't let him book one that was priced beyond 6 lakhs. Apparently, this limit had been in place for a couple of years. Now 6 lakhs might have been decent two years ago, but in today's condition of spiralling prices, it might not be enough. Failure on the part of the organization to raise that limit left my friend with a below par car and a peeved wife, and the organization with a dissatisfied employee.
I believe that organizations have to be innovative now, not just in their marketing strategy for their external customers, but in their marketing strategy for their internal customers as well. Today, if an organization tells me "Come to me, I have medical benefit plans and insurance plans for you", I would probably just yawn and show it the door, coz the last organization told me the same thing, as did the one before that.
July 14, 2008 8:55 AM
Although organizations, specially those in the services sector, began to sit up and take notice of the increasing rate of attrition from quite some time ago, it is only a select few that have moved beyond the almost "standardized" benefit plans (the ones which every Tom Inc, Dick Inc and Harry Inc provide) and have come out with innovative ones of their own.
A leading IT/ITES organization based out of Gurgaon did a profile study of their employees and found that a majority of them were in their 20's and early 30's and with partners (married or otherwise). One of their benefit plans involved dishing out two tickets for a weekend show in PVR Priya. Similarly, another one based out of Bangalore found that many of their managers had young kids, and hence the organization started with a creche facility of its own.
One can find such examples in the corporate world, however surprisingly the number of instances of organizations adopting such innovative benefit plans, though on the uprise, is still few and far between, specially in India.
A friend of mine was recently looking to book a car in order to save some tax, but his organization's policies didn't let him book one that was priced beyond 6 lakhs. Apparently, this limit had been in place for a couple of years. Now 6 lakhs might have been decent two years ago, but in today's condition of spiralling prices, it might not be enough. Failure on the part of the organization to raise that limit left my friend with a below par car and a peeved wife, and the organization with a dissatisfied employee.
I believe that organizations have to be innovative now, not just in their marketing strategy for their external customers, but in their marketing strategy for their internal customers as well. Today, if an organization tells me "Come to me, I have medical benefit plans and insurance plans for you", I would probably just yawn and show it the door, coz the last organization told me the same thing, as did the one before that.
July 14, 2008 8:55 AM
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