Hiring talented people is a crucial task in creating a strong workforce, But this strenuous work can be considered as only one-half of the story. Retaining skilled employees is another decisive phase which plays a major role in creating a talented and skilled workforce. Employee retention is another key aspect of a developing company, as you put time, effort and investment in hiring as many...
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Fast paced business of this generation constantly change their approaches and correct themselves to ensure maximum productivity. To stay ahead in the race, many successful business organizations depend on Outsourcing and thus have achieved better results. Outsourcing businesses processes can ensure maximum success when thoroughly planned and implemented according to the requirements and theme of the business. Outsourcing part of your operations can free the...
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Expense management is a task which every company should take seriously and be quick at, the reason being it allows the employee to purchase a much-needed item or service for your business when you need it. Understanding this need we at 247HRM have reinvented Expense management. Gone are those days when organizations could wait to take decisions on purchasing services, approving travel etc. Employees had to...
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In the present day scenario, many corporates are seen outsourcing their HR functions. Day by day, the HR functions are becoming more complex and time-taking. It is making no sense to recruit larger numbers of employees in your HR department and increasing the company liabilities. There are many tasks in HR that can be easily outsourced with same or larger benefits than having one’s own...
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Since 8th November 2016, we have all grappled with the side effects of the demonetization drive. Arguably, the crisis has spared no one but from all the news and social media reports, it seems as if the groups who typically rely on cash (lower income brackets, elderly & the less tech savvy) are impacted by this transition phase the most. Serpentine queues at banks & ATMs...
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There are 3 ways to motivate people to work harder, faster and smarter: Threaten them. Pay them lots of money. Make their work fun. In today's high-pressure workplace, threatening people serves only to increase stress, reduce productivity & has not been effective. Paying them lots of money (even if you can afford it) has only shown the short-term success. Only number three, having...
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Multicultural workforce involves men and women from diversified ethnic backgrounds from various parts of the globe. Multicultural workforce helps the employees to get great exposure regarding different customs and traditions which promote mutual respect. This environment allows employees to learn from other employees customs & traditions. Meeting people from diversified backgrounds helps us understand and navigate today's connected the world with ease. Promoting oneness among...
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Now it is easy to measure your performance and evaluate yourself & your team using performance management software. This tool helps you quantify performance across the board. It allows you to acknowledge the contributions of your best performers who meet or exceed their goals and reward them accordingly thereby showing their value to the team, department, and organization. This simple effective performance recognition system encourages...
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Performance management has a huge ability to transform the organization by increasing the productivity of the firm and can promote healthy competition among the members. Contributions and potential of the individual employees will be recognized and valued by upper management. Performance appraisals can create an ambitious atmosphere which will help an employee perform to the best of their ability in turn creating growth within the...
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The Employee's State Insurance Corporation (ESIC) has announced that the monthly wage threshold from Rs 15,000 to Rs 21,000 for the coverage under its health insurance scheme by the Labour Minister Bandaru Dattatreya, Chairman of ESIC board. The ESIC board has also decided to give an option to the existing insured persons to continue the membership though their wage breaches the ceiling of Rs 21,000 per month....
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