In today’s volatile market where there is no guarantee of job security, getting the right talent, employee retention, continuous change of job content & requirement, what is the one way to make steady progress in your career? The answer is simple. Become a part of your company. On the job there are many things any young executive can learn apart from his/her job responsibilities. Knowing your company from periphery to core can make you an indispensible part of the organization. It is observed that many young executives these days have very little knowledge about proper working and functioning of the organization. Learning about the below mentioned areas of your company will give you a holistic understanding of its working, needs and business objectives.
Know Your Company: Every young HR professional must know all about his/her company such as History and Development of the Company, Salient Features of the Company Culture, Company values, Products, Customers, Market, Revenue, Internal Communication process, it’s Brand value etc. Knowledge about all important aspects & functioning of the company thru greater involvement in the company activities will enable him/her to understand the company better and dipper.
The who’s who of the Company: As an employee of the company it is extremely important to know all the people at senior positions in your company, whether they directly supervise you or not. Right from GM’s, VP’s, Presidents, Directors, CEO’s, and the Chairman, all these individuals should be known by name and designation by each executive. Really getting to know your seniors will help you contribute positively to your professional goals, take initiative, and grow in your career.
Core Processes: Having an elementary knowledge and functioning of the core processes in a company in its fields like R&D, Marketing & Sales, Quality Assurance, Finance & IT, along with HR will contribute to a versatile profile of any executive. It gives the impression of a learning mind, willing to understand the company profile on the whole to increase familiarity and productivity. .
Organizational Structure: A structure depends on the company’s business model, strategy and objectives. The typically hierarchical arrangement of lines of authority, communications, rights and duties of an organization. Organizational structure determines how the roles, power and responsibilities are assigned, controlled, and coordinated, and how information flows between the different levels of management. It defines clearly role, responsibility and accountability of individuals and reporting relationships. Therefore knowledge about the Organizational Structure for an HR Executive is important and essential for better & greater contribution to the organization.
Structure and Functioning of HR Department: As an HR executive, it is essential for you to know the structure and functioning of your department, such as who’s reporting to whom, roles and responsibilities of the team members, internal communication process, various HR policies, and various issues related to the functions etc. Thorough knowledge of functions like manpower planning, job analysis and description, performance appraisals, training and development, employee welfare, implementing organizational policies, dismissal and redundancy, and much more are essential…
HR policies: Each executive should have thorough knowledge of the HR policies of the company. This includes leave policy, travel policy, transfer policy, promotion policy, recruitment policy, training policy, various service conditions, code of conduct etc. Equal employment policies, employee classification, working days, overtime compensation, meal time breaks
Recruiting Skills: Every HR Professional in some point of time will be involved in recruitment and selection process of new employees and therefore learning and knowing the following recruitment skill will always come handy and useful.
- Knowledge about the hiring position, Job Advertising, Networking, Interviewing skill, Screening and Short listing of candidates, Data base management for potential employees, knowledge about various recruitment methods such as campus interviews, Walk in interviews, Job-Melas, Referral program, use of Job Portals and Online recruitment ,Usage of social media like Linked-in, face-book etc for reaching and inviting prospective candidates, etc.
Training Skills: Developing the following skills by a HR Executive will be very useful to pursue a career in training and development function; e.g. Conceptual knowledge about training function, how to identify training needs, how to design and develop training modules, preparation of training literature, content writing, networking with various training faculties, developing training calendar, organizing and conducting training programs, usage of technology in training programs, training evaluation, preparation of training budget etc.
Appraisal Skills: HR executive must have conceptual knowledge about PMS, its objectives, how effectively it can be implemented in your company, how to define KRAs, goals, objectives, & measurements to monitor and evaluate performance of employees etc. Besides each HR executive must know how to facilitate & guide line managers for conducting performance review discussions, how to identify development needs of their staff, how to conduct performance counseling of non performers etc. He should also possess facilitating & analytical skills such as data analysis, moderation of performance rating objectively with line managers, proper interpretation of data related to employee performance etc. They must be very clear about how PMS is aligned and linked to employee development and company’s reward mechanism.
Compensation and Reward Policy: How employers structure & design compensation is critical to attract, engage, and retain key employees. The right compensation strategy with the appropriate compensation structure will help you attract and retain talented employees. Every young HR professional must know the compensation policy & the structure of the company. He/she must be familiar with reward policies in the company. e.g. knowledge about various incentive schemes linked to performance and productivity, Sales Incentives, any other incentives link to merit, long service reward, performance linked bonus etc. etc.
Payroll Administration: means the sum total of all compensation that a business must pay to its employees for a set period of time or on a given date. Duties of Payroll Administrator-are normally recording hours/days of working of employees, salary recording & computation, tax deductions, bonuses and commissions, joining and salary of new hires, Statutory deduction like-PF, ESI, Income Tax (if applicable), Computation of wage and salary etc. Working knowledge of such activities will always be useful for a HR executive.
Knowledge about Working Conditions, Superannuation Policy & Retirement Benefits: Basically covers various terms and conditions related to employment such as Compensation, Grade, Designation, Location, Retirement Age, Working Conditions-working hours etc. Retirement Benefit covers schemes like Gratuity Scheme, Provident Fund Scheme, superannuation Scheme, Pension Fund etc. Awareness about such schemes by any young professional would add value to his/her functional Knowledge.
Induction Program: An induction program basically is like an orientation for beginners and new employees, about the company, culture, values, products, customers, structure, processes, various functions, who’s who etc. It also covers the specific function and the job where the new employee will be placed. In short it is a familiarization program for the new employees about the company, the various functions and the job, which will enable him/her to settle down early in the company.
Facilities: Companies provide their employees with variety of benefits. These generally includes-canteen, transport, flexi working hours, recreation facility, other welfare facility like medical benefits etc. Knowledge about such facilities in the company will be always useful for an young HR executive to function better in his job.
- All the aspects and points mentioned above are basic and essential knowledge one must know in the beginning of his/her career in a company. Nothing should stop him/her to know more about detailed functioning of all the aspects during the progression of his/her career in the company. Young HR professionals must also emphasize these days to know new HR initiatives which are being given greater emphasis for building the organization for competitive advantage such as Talent management, Leadership Pipeline, Strategic HRM, Managing Cultural Diversity, Systematic Skill Development program, Cross functional working, Use of technology in effective implementation of HR processes, Performance linked compensation policy etc. And so the effort must continue to learn and gain professional knowledge more and more in your field of interest and should be an on-going process.
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