Tushar said...
In this world of cut throat competition, definitely attracting the talent and retaining it has been one of the herculean tasks for the corporate sector.
As I am associated with IT Sector for past 3 years now, I would have certain level of comfort to speak about the role of services & benefits in IT.
Following are the basic Services and Benefits which a common IT Professional expect from the company:
* Provident Fund and Gratuity
*Medical Facilities for Employees and their dependants by providing Insurance Coverage and fixed amount for medicals expense.
* LTA, Facility of Company Guest Houses at different tourist destinations.
* Learning Opportunities to grow personally as well as professionally.All major IT companies now provide ample learning opportunities. Many technical certifications are now company sponsored. Foreign Language Sessions. All IT majors have tie-ups with reputed educational institute for part time courses like MS/MTech/ MBA
* High Performance reward in terms of perks or Employee Stock Options.
* Profit sharing with all the employees in terms of different variable pays.
Apart from all above mentioned services and benefits, from HR perspective, Talent should be categorized as per different age groups.
Young professionals would always get attracted towards higher pay packages and onsite opportunities. Young professionals would hardly care about Provident Fund and Gratuity. Younger professional in age group of 22-30 would always have more inclination for onsite exposure. In order to retain the young talent, they should be given pay packages as per the industry standards and onsite exposure on a short term basis if long term is not possible. Obviously but some contractual binding is necessary so that the employee can not resign from the companmy immediately after the onsite trip. This could be a win-win situation for both employer and employee.
Well, if you want to target middle aged IT professional, they would seek for stability and responsible positions. In order to attract and retain Middle aged professionals, they should be given benefits like Children Health Care Program, Family Medical Checkups with concessional rates. On a professional front higher positions with appropriate skill sets should be given. If necessary some new positions based on different types of skill sets should be devised.
August 12, 2008 6:58 AM
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