IIM ROHTAK HUMANE-R CLUB Presents
HR BULLETIN VOLUME 2
humane.r@iimrohtak.ac.in
HR Bulletin
Humane-R
1.Entrepreneurs And Small Businesses: How Your Recruiting Methods Could End Up Costing You–And What To Do About It With 2020 Right Around the Corner, How Will You Ensure Business Resources Are Protected to the Fullest Extent Possible?
When you consider quarterly and annual business goals, chances are you that you are only thinking of strategies that directly relate to revenue. But do you have strategies in place to reduce litigation risk? Google, IBM and PriceWaterhouseCoopers are all defending age discrimination lawsuits this year, with Google settling for $11 million to avoid litigation. While you might not be in the same league business-wise, you are still bound by the same employment laws. “just one lawsuit can cripple a small business, possibly forever—far more than paying a professional to handle the HR tasks”
Small companies and start-ups often don’t have enough resources or do not allocate funds to support an in-house HR. In most cases, smaller companies outsource functions like recruiting and payroll. Without having someone responsible for compliance-related HR (equal opportunity, affirmative action, employee relations, and diversity and inclusion), you risk oversight. 1
HR Bulletin
Humane-R
Your small business is growing. Are you recruiting the best talent from the most diverse candidate pools?
Protect Your Company and Your Resources When Title VII of the Civil Rights Act of 1964 was passed, employee protections included race, religion, sex, national origin or colour became illegal and the journey toward inclusion began with the start of compliance and equal employment opportunity initiatives. A few years later, the Age Discrimination in Employment Act of 1967 (ADEA) was added to protect employees 40 years of age and older from discrimination on the basis of age in hiring, promotion, discharge, compensation, or terms, conditions or privileges of employment. All of these protections are administered by the Equal Employment Opportunity Commission (EEOC). In small companies and startups, the most likely HR-related mistakes occur in recruiting and hiring. If you are posting an equal opportunity statement, be sure that it includes all the protected categories. Oversights happen, as in the case of these two statements taken from small Texas-based companies. Read more at: https://www.forbes.com/sites/sheilacallaham/ 2019/11/27/entrepreneurs-and-small-businesses-how-yourrecruiting-methods-could-end-up-costing-youand-what-todo-about-it/#1f0a7e14262f
2.The Future Is Now: the Changing Role of HR Leading HR Organisations Are the Ones Which Have Already Delved Into the Technologies by Hiring the Skilled Employees and Paving the Way for a Better Integration of Digital and Human Labor.
From operating in closed conference rooms to holding a chief seat at the senior leadership table, HR surely has come a long way. Today, the role of HR in planning and driving strategic growth is as important as technology or business leadership. In recent years, HR has undergone dynamic shifts in its roles, functions and overall impact in shaping organisations. The need for a digital transformation from operating in a traditional cocoon is no longer an option. The sooner the shift happens, the higher the chances of survival. HR needs to be a function that takes the lead in understanding what makes people engaged, what cultures drive the most productive workplaces and what equations enable a true merging of human capability with technology. 2
HR Bulletin
A latest report by KPMG reveals two sides to this story. Out of the surveyed 1200 global HR executives from 64 countries, 39% of forward looking and confident HR leaders are harnessing the resources and insights to redefine obsolete models, and implement technologies such as analytics, digital labor and AI. However, most of the HR leaders remain confused and overwhelmed by so many new additions, thus facing a risk of extinction. They are either struggling to adapt to this digital era or ignoring. Leading HR organisations are the ones which have already delved into the technologies by hiring the skilled employees and paving the way for a better integration of digital and human labor. They understand the benefits of automation of high volume and repetitive tasks as it frees employee time, who can then focus on tasks that create higher value for the business. Management can shift their focus from mundane activities and focus on ways to create more business efficiency, enhance performance and competitiveness.
Humane-R
HR needs to be a function that takes the lead in understanding what makes people engaged, what cultures drive the most productive workplaces and what equations enable a true merging of human capability with technology.
Read more at: //economictimes.indiatimes.com/articleshow/ 68229542.cms? from=mdr&utm_source=contentofinterest&utm_medium= text&utm_campaign=cppst
3. Feel poor, work more: Changing attitudes in the workplace Can It Help To Encourage a Positive Culture Around Money and Help Line Managers To Be Sensitive to Employees’ Issues?
According to a report by the Resolution Foundation, the main reason behind the UK’s record employment levels is that millions of people are working more to compensate for weaker earnings, with many working longer hours as the number of second-earners continues to rise significantly.This “feel poor, work more” phenomenon not only shines a light on the reality of in-work poverty for many, but can also put staff under enormous strain. As such, employers need to deal with the issue of employee wellbeing, particularly financial wellbeing, before it harms both the business and its employees. 3
HR Bulletin
Humane-R
Spotting the signs Identifying workers who are struggling with their finances is a difficult task, as staff often feel uncomfortable talking about their financial situation and these challenges affect people across all age groups and salary brackets. In 2018, the Money Advice Service found that 51% of people preferred not to talk to friends and family about financial issues, with almost half of adults hiding an average debt of just over £4000. With this in mind, it’s easy to see why employees are unlikely to confide in their manager or colleagues about their financial concerns. However, it is vital that employers normalise financial wellbeing and reaffirm their role as a confidential source of support, as this will be essential for building financial resilience and protecting an employee’s wellbeing. Personal finances are always going to be a sensitive subject, though, so employers need to tread carefully when it comes to addressing this issue with staff. On a practical level, employers can help by providing employees with access to quality products and services which can be enablers of financial wellbeing. Whether that means managing money day to day and making it go further, managing problem debt, building resilience through rainy day savings and appropriate insurance or planning for the longer-term, staff can utilise these tools to help them feel more confident when it comes to finances. Employers often already have some of these benefits in their offerings, in which case the key is effective communication to ensure employees understand what it means to them.
A common example is Employee Assistance Programmes (EAPs), which are common-place but employees often don’t appreciate that these can offer invaluable confidential counselling on financial or personal issues caused by debt. “The ‘feel poor, work more’ phenomenon clearly demonstrates the need for employers to consider their employees’ financial situation, especially if it is causing them stress.”
Financial education in the workplace has historically focussed on pensions, but there is no reason why employers cannot extend the scope to include core knowledge on all aspects of personal finance. We are now seeing the emergence of online training courses covering day to day financial skills, which can be a practical addition to traditional L&D programmes. These can enable employees to improve individual finances as well as letting them login from the comfort of their own home and involve family members to improve household financial capability. Online courses can also provide the employer with insight on levels of engagement and learning gain across their organisation. By providing an appropriate framework of education, products and services, employers can empower employees to improve their financial wellbeing without having to disclose their finances. It also helps them to avoid falling into the same financial traps time and again.
4