"Investment In Training & Welfare Helps Create Distinguished EVP"

Despite the global economic challenges, India continues to drive ahead with its growth story. The IFM sector just like any other will ride the growth bandwagon and continue to deliver the goods. HR teams of IFM companies have an instrumental role to play in the growth of their organisation and that of the industry overall.

IFM industry is workforce intensive - business growth is directly proportional to employee strength. The biggest issue that the IFM sector deals with is an extremely high employee turnover. Given that salary cannot be used as a differentiator in the industry generally driven by minimum wages, HR teams of IFM companies will need to apply differentiated strategies to help their organisational growth. This can happen by retaining employees and creating avenues to attract new employees for future growth.

Investment in skill and capability development of the current employees that prepare them for larger roles will contribute to employee retention in a big way. When we invest in employee’s development beyond the need of their current day job and communicate to them about the possibility of roles that they can take up in future, they start seeing a career rather than being stuck with just a means to earn livelihood. This will make them stay!

We also need to play an active role in facilitating platforms for a wholesome employee welfare. Helping employees with education and taking advantage of multiple state sponsored welfare schemes. Acting as a liaison between various government and non-government agencies to help employees reap benefits of these schemes will help employees see their organisation care beyond just their job delivery.

HR team members need to be on the ground connecting with employees whilst also crating platforms for the employees to connect with other relevant stakeholders. The more an employee feels heard the higher are the chances of them staying with the organisation.

A widespread approach of investment in training, delivering wholesome welfare and proactively connecting and listening to employees will enable IFM companies to create a distinguished Employee Value Proposition helping them retain more employees and of course attract newer talent, in turn fueling growth.