“The Great Resignation”

In case you have not yet heard about this term, here’s what you should know.

• An economic trend
• Employees across multiple industries are quitting their jobs voluntarily in large numbers
• Started in the early months of 2021 in the United States
• Also known as “The Big Quit”
• Employers struggling to fill in open positions
• Trend slowly spreading worldwide

CAUSE?

By the end of July 2021, more than 4 million Americans put down their papers, and US employers were looking at almost 11 million job openings that needed to be filled as soon as possible. These numbers have been abnormally high when compared with historical data. With an event of this size, it is only natural to ask questions to get to the bottom of the issue: Who is causing this and why? The Harvard Business Review recently conducted a detailed research into this event by studying over 4,000 different employers and 9 million employees to draw meaningful patterns and build concrete conclusions for this problem. With sophisticated analytics running through such a large cluster of data, they were able to pinpoint the two biggest factors responsible for causing this snowball effect of mass resignations. Firstly, the data made it fairly evident that people working in the healthcare and tech industries showed the highest rate of resignations in the past year. Additional data suggests that not only healthcare but frontline workers across multiple industries quit their jobs in the last 6 months. A deeper look into this issue points all fingers towards the ongoing pandemic. During the peak of the pandemic, frontline employees were denied benefits like time-offs and instead were made to work longer hours due to increased demands. Such workers were immediately subjected to extreme stress, anxiety, and physical ailments caused due to these unfavorable psychosocial hazardous work environments. Increased workload led to burnout which eventually led to mass quitting. On the other hand, people working in tech had a different reason altogether but unsurprisingly had the same final affect – burnout. Around 90% to 95% of tech workers were working remotely during the pandemic. Employees quickly adjusted to the new normal and were as productive as before. However, multiple surveys and studies, over the course of the pandemic, quickly found out that employees were working way more than the standard 9 hours due to ease of access to work and increased demands during the pandemic. The result? You guessed it right – burnout due to increased stress and anxiety.

The second biggest reason that HBR’s study pointed out was demographics. The research found out that the majority of the resignations that were handed in were from mid-career employees between the ages of 30 to 45. This, too, can be tied to a very specific reason – safety. When the pandemic began, Gen Z and millennial employees between the ages of 20 to 25 were at greater risk of landing a new job because, with remote working, employers quickly hesitated from hiring folks with little to no experience. With little to no experience, any employee has to spend time in-person with the team or mentors to get a proper hang of work to take on the responsibilities efficiently. This was impossible with remote working. Therefore, the next best group of people that could take on newer responsibilities in newer organizations were the mid-career employees who were sufficiently experienced to hit the ground running. It could’ve also been possible that after all the high workload, limited staffing, and stagnant pay during the pandemic, the mid-level employees reached their breaking point and had the liberty to rethink their work-life balance while also being in the best position to switch jobs to suit their needs and wants. Either way, the resulting consequence could not have been any different – people quitting in large groups.

Also Read: An Alarming Trend in Employee Behavior

YOUR RESPONSIBILITY AS AN EMPLOYER

• Existing Employees: If you happen to be one of the unlucky ones who suffered from the Big Quit, your first step should not be to start looking for replacements instantly. The very first step you should be taking is to stop the bleed. Acknowledge the contributions of your existing employees. Show your appreciation towards their work and compensate them monetarily or in terms of benefits, without holding back. This builds trust, improves work culture, motivates people to do more, and makes people want to continue working with your company. After taking this step first, you might want to start building on your hiring strategies to backfill the lost positions. Additionally, you must also regularly collect employee feedback data, identify root causes of existing problems in work culture, and develop highly customized retention strategies to correct the wrongs that may exist in the culture. For example, if you discover members from a certain team leaving at a higher rate compared to other teams due to the leadership style of the manager, you must work towards a permanent solution to stop this problem. Regular feedback from employees helps avoid this problem and increases people’s trust in the company, which brings us to our next point: communication.
• Communication: Lack of communication compounds over a period of time only to return and stab you in the back at the worst possible time and when you expect it the least. When an employer is unable to convey or is deliberately trying to withhold information about what is going on, it creates confusion, breeds fear, propagates doubt, diminishes employee-employer trust, and instigates uncertainty within the company’s people. Once the wheel is set in motion, it can be challenging to avoid the disastrous consequences – like a tiny snowball rolling down a mountain and becoming a giant ball of death by the time it reaches the foot, destroying everything in its path. The smartest companies understand this and always try their best to prevent such events at all costs. The simplest form of avoiding greater damage is communicating the truth to the employees whenever you have new information and giving them hope for the future. It might seem counter-intuitive in many ways, but that’s what works best for a company’s reputation and success in the long run.
• Direction: In the face of uncertainties like natural disasters or pandemics, the only thing that gives hope to the workforce and keeps them going is continuous signs of progress. A recent survey from humu.com revealed that employees who didn’t have a clear and achievable goal or milestone were six times more likely to quit and join another company. Therefore, combating this issue is vital to the growth and retention rate of the organization. The managers are the ones who are majorly responsible for solving these problems in their teams and have to actively take the initiative in fighting ambiguity in the minds of their employees. A fair percentage of managers might resort to micromanaging by default – which has been proven to be the worst way to motivate employees. Micromanaging must be avoided at all costs. The best ways to keep the workforce motivated and focused on their goals are:
• To give employees clear, time-bound metrics for success
• Measure and manage
• Give direction
• Avoid micromanagement
• Allow higher autonomy
• Make them feel like they’re a part of something larger than themselves
• Identify unique skills in each employee and use them for collective growth

Exela HR Solutions offers end-to-end HR services to companies across different industries, around the world right from recruitment and payroll to corporate training and HRBP services. Speak to us today to optimize and standardize your people strategies for 2022.

Sources: google.com | humu.com | en.wikipedia.org | reddit.com | hbr.org | weforum.org

DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.

Ever since the UN General Assembly adopted the Universal Declaration of Human Rights in 1948, the 10th of December is observed as International Human Rights Day worldwide. The UDHR is the most translated document globally and is available in more than 500 languages with the core message explicitly mentioned in the first Article, ‘All human beings are born free and equal in dignity and rights.’

This statement implies that every human being, irrespective of sex, color, orientation, religion, race, caste, origin, and status – political or social or any other difference is entitled to a set of rights as a human being. These cannot be earned, purchased, accumulated, or prioritized. It is unconditional and infinite, and there can be no limit or exceptions to its claim.

Human Rights ≅ Human Resources?

Human Resources isn't just a professional chore that needs to be carried out; it's the thing that runs businesses! Employees are the most significant resource in every organization despite structure and size. If harnessed efficiently, they possess the potential to be an organization's most valuable asset.

As Jim Collins puts it, "Great vision without great people is irrelevant."

Ideally, it is not only the moral but also the legal obligation of organizations irrespective of size and turnover to respect, protect, fulfill, and promote the human rights of their employees.

The common element in Human Resources and Human Rights is the word 'human.' One expects this department to be the most humane in an entire organization. Conversely, studies reveal this department lacks that same 'human element.'

As per this study, a startling 37% of employees wouldn't feel comfortable reporting sexual harassment, while 43% wouldn't report discrimination on various grounds. About 70% of employees believe the HR department does not represent them and always sides with management. They prefer to do 'nothing' or explore options to deal with a situation themselves, avoiding the inclusion of HR under any circumstance. The fear of reporting supersedes the plausibility of a favorable resolution!

Human Rights in the context of business

From an organizational perspective, human rights provide a benchmark for minimum acceptable standards of behavior within the workplace or aspects of professional duties, relationships, and boundaries. The idea of applying human rights to business processes, policies, and strategies is a relatively recent one. However, efforts and pressure exerted from reputed international organizations on governments have made it essential for businesses worldwide to consider human rights and their application within the context of business. It has been decades since its inception, yet companies struggle to integrate its true essence and implementation. Let's look at a few basic steps to achieve this.

• Get acquainted with the scope of Human Rights.
• Thoroughly comprehend its applications and implications.
• Develop, practice, and promote an uncompromising, approachable work culture.
• Reinforce this culture through example-setting and immaculate, untarnished records.

Also Read: Human Resources | A Peek into the Future

The Scope

In the pursuit of building a work environment that encourages and idealizes the notion of equality and disapproves discrimination of any nature, one must understand the aspects of human rights that are relevant to business. Well, in brief, all human rights are relevant! Not just social, civil, and cultural, but also the political, economic, cultural rights of all employees must be considered. If we were to simplify and summarize this broad spectrum, it's as easy as ingraining humanity in all aspects of business!

The famous verse from Matthew 7:12 later reiterated in Luke 6:31 advises us to 'do unto others as we would have them do unto us.' It’s all about fairness and empathy. And the way to accomplish this is to continually remind ourselves that human beings aren't robots. They are not pre-programmed to function as per optimal conditions suited to a particular job profile. They have inhibitions, strengths, motivations, goals, boundaries, families, social networks, weaknesses, concerns, challenges, and limitations.

The Reality

The fact of the matter remains that in the daily humdrum of office life, all conflicts and disappointments make their way to the HR desk. This department is only associated with misdemeanors and drama. If it doesn't commence there, it ends up there. And more often than not, the endpoint is despair. The HR desk witnesses the full extent of human flaws and outrages. Yet, they must function with human connect and intellect while upholding employee morale and rights. Besides, they also have the responsibility to protect the organization's values that provide funding to their desks!

The secret to bringing 'human' rights into human resources is simple. Just be human …while concurrently maintaining professionalism. There lies the catch! It may seem like a tall order, but it is possible. Remember, practice makes perfect. With conscious effort and practice, eventually, it will reflect in every situation. An HR professional must approach every HR issue while being emotionally present and empathetic. But, one must recognize and respect the boundaries and limitations of the official structure and stay protected while representing the company at all times.

Desensitized as a result of Disengaging

Let us consider a regular day in the life of an HR professional. In the morning, HR deals with one sexual harassment issue. They're fresh and peppy in the morning. So, they lend an ear, investing time, attention, and emotion. A gender bias case comes up by noon, and the same personnel displays empathy and addresses the concerned parties with understanding. In the evening, a racial slur spurs up a controversial storm. By now, this professional is probably exhausted and less invested in this matter. And a moment's lapse of protection awareness is all it takes to tarnish everything they've been working for so diligently.

In most likeliness, maybe a day might not have such a varied and drastic effect, but HR professionals learn to disconnect and get desensitized over a period of time. Those who continue to protect the department's halo end up feeling miserable or, worse, switching careers. Experienced HR staff eventually siphon out the emotional quotient of the equation while dealing with issues. While they're momentarily protecting themselves by not investing any emotion, their judgment lacks the fundamental essence they stand to defend. It may sustain them a while longer, but they will certainly lose their sense of purpose. Engagement brings motivation, and motivation drives purpose. Without these, HR teams will be unproductive. A good alternative to these extremes described here is adopting a balanced strategy. When encountering a situation, HR teams must consider these aspects, which would be the cogent approach to resolving any situation rationally and reasonably.

• Grade, categorize and classify the situation as per protocol
• Apply company policy without exceptions
• What was the intention?
• Was it deliberate, planned, or involuntary?
• What are the implications?
• What is the extent of the damage?
• Are those damages reversible?
• If so, what is the cost of reversing those damages?
• Was it repetitive? How often?

The Solution

First, maintain sensitivity to the environment, situation, and employees involved. This is where humanity must be displayed; empathy and emotion must be present. Then while diagnosing the case, let reasoning take over and classify the situation as per company guidelines. There cannot be disparities, partiality, and bias because one feels more connected to a particular person or cause than another situation or employee. SOPs must be adhered to. This is where professionalism comes in. So the secret recipe to resurrecting human rights in human resources is 'balance.'

By choosing to outsource HR functions to a reputable brand like Exela, established experts in the field, with decades of experience in dealing with every possible HR issue in the most humane-yet-professional manner, you eliminate the possibility of inappropriate, disparate, or unjust outcomes without bearing the burdens of employing an in-house HR! Exela HR Solutions is a world leader in providing end-to-end HR solutions with balanced precision. Click here to learn more.

In an attempt to uphold human dignity

Within the horizon of official facilities

Ourselves, let us rededicate

This concept to propagate

Irrespective of our many differences

The involuntary ones and also our preferences

We are all born free

And have a right to equality

As we celebrate Human Rights Day

Let’s make this pledge today

To do things the humane way

Exela HR Solutions

Will always stand by these principles

Happy Human Rights Day from Exela Technologies!

Statistical Reference Sources: un.org | zety.com

DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.

There has been a lot of discussion, online as well as offline, related to perks and pay – whether it should be kept the same or is a much-needed revision due any time now. “Right” is a subjective term where the meaning depends on the context in which it is placed. What was “right” before the pandemic might not necessarily be right after so many fundamentals of working have changed ever since. Employees, on the other hand, have been extremely flexible in adapting to the new normal, with some liking it more than others. For example, remote working for working mothers who might have toddlers at home to care for, came like a blessing in disguise. It made their work-life balance perfect. Whereas some traveling salesmen, who might’ve been used to performing at their peak while sitting with their clients in-person across a table, might not have liked the remote working situation very much. What may seem right to one employee may not seem right to the other, which is why, today, we will be looking at various aspects of compensation and benefits – why it matters, should it be changed, and what happens if we change or don’t change the current system.

IMPORTANT DIFFERENTIATIONS

Let us first start by differentiating between compensation and benefits. Compensation is everything that is given to an employee in exchange for their work. Benefits are a part of compensation and are strictly non-financial in nature, while compensation can be both financial and non-financial. Compensation is generally used to attract top talent from the market into the company, while benefits are generally used to motivate existing employees in the company. Compensation is a direct form of payment that is taxable, while benefits are more indirect in nature which can be fully tax-exempted. These are important differentiations to keep in mind if you are an employer or a business owner, especially a new one.

CHANGE IN THOUGHT

Every industry has seen significant growth in the past decade. Naturally, this has an effect on employees. Continuous positive growth automatically attracts top talent and, with it, high expectations. According to a recent SHRM Online survey, 88% of all current employees reported being fairly satisfied with their jobs – a record high since 2006. When asked further about their reasons for job satisfaction, most of them reported these three reasons to be the main drivers of their positive experience:

• Respectful treatment of all employees
• Compensation
• Benefits

Humans are the single most important asset of any company. It doesn’t matter how much automation a company has implemented, nor does it matter how much it will implement in the future. If the humans are not cared for, everything else crumbles with time. Employees will always be the final deterministic cause of any company’s success or failure.

Flexibility was an important factor that was tested during the pandemic. People started working remotely, which improved their work-life balance while keeping their productivity constant. In some cases, people found themselves pushing their productivity beyond what was previously possible. People could easily switch between work and chores without hampering efficiency. Since this was never tested at such a massive scale before the pandemic, employers tended to shy away from remote working ideologies in fear of it affecting productivity. However, since the pandemic, employers have become more welcoming of remote work, and if you scout recent job postings, employers have even started offering remote work as a perk – making it an inclusive part of the overall compensation and benefits strategy of most organizations. Other perks such as improved health insurance, food/shopping vouchers, flexible work schedules, free access to professional development platforms, mind and body fitness subsidies, unlimited vacation, etc., have started making way into the overall payout package of employees across all industries. After all, attracting top talent and retaining them over several years is one of the primary objectives of organizations across the world. Offering such perks gives more credibility to the employer, improves reputation in the market, and most importantly, makes potential hires choose you instead of your competition.

Like benefits, when it comes to compensation, employers must be aware of what they are offering versus what the market is offering for a particular job role. It is imperative to offer competitive pay for every job role that you must pay. One of the more common mistakes that you may notice employers make is offering good perks but below-average pay. Such a strategy may push employees to accept your offer, but then it becomes a challenge to keep employees motivated in the long run, causing them to lose motivation and start looking for newer opportunities in the market. A recent tweet by Naval Ravikant, an Indian-American entrepreneur and investor, read, “Pay double and insist on ten times the quality,” to which Ankur Warikoo, an Indian entrepreneur, replied, “Works best for trust. Do double (without being asked to). Earn ten times the trust”.

Also Read: Will HR Outsourcing Be Feasible After Pandemic Ends?

Some of the best business owners and managers understand the importance of showing value to employees in the form of direct monetary benefits. It is one of the easiest methods to improve trust, productivity, and efficiency. Companies like Google, Microsoft, Netflix understand this very well, which is why they don’t hesitate to pay their best employees 5 to 6 times more than the average market rate. These employees, in turn, perform at their highest level, making the company grow at ludicrous rates. That being said, it is fairly evident that not every business in the industry will have the financial liberty to 5x their employee pay overnight, but the best part is that it doesn’t have to be that high. This Caribbean food chain in Florida, USA, managed to end labor shortage for their business by making small changes directed towards their employees. The US restaurant industry currently faces an acute labor shortage after lockdowns were lifted a few months ago. This food chain managed to fight the shortage effortlessly by making these small changes in their compensation and benefits packages:

• Higher wages for staff
• Weekend-working bonus
• Bigger sign-on bonus
• Bigger referral bonus
• Childcare leave
• Free education programs
• Cheaper medical plans

Conclusion:

This change in thought across multiple industries has allowed businesses to thrive in challenging environments such as the one we currently live in – the post-pandemic world. On the contrary, the general workforce, especially the Gen-Z workforce that is entering fresh in the market, is entering with a lot of expectations that have to be met by employers because if not, this new workforce is ready to hop from one job to another until they are comfortable. This is the reality today.

Imagine an employee receiving two job offers offering the same pay, but one of them is offering way more benefits than the other. Which one will he/she choose?

Exela HR Solutions is a world leader in providing end-to-end HR solutions to businesses of all sizes worldwide. Get in touch with us today to learn more about our payroll and compensation and benefits offerings.

Sources: google.com | en.wikipedia.org | betterup.com | shrm.org | theguardian.com | twitter.com | reddit.com | businessinsider.in

DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.

WHAT IS HR CONSULTING?

In simplest terms, HR consulting can be defined as a group of HR experts (usually a business) offering their expertise to other businesses who need it.

According to a recent study by Consultancy.org, global consulting today is a $250 billion market, one of the largest in the professional services industry. Within this market, the HR consulting services market is currently estimated to be valued at around $30 billion. These numbers weren’t realized overnight. Years of conscious and deliberate development of this service have led the industry to where it stands today. But why do businesses feel the need to hire 3rd party experts? Is running your HR internally no longer feasible? Or is it just one of the cost-effective solutions?

Managing one’s HR has never been a core function of any business. Unlike departments like sales and marketing, it is treated as an auxiliary function that does not contribute directly to the growth of the company. But having said that, the opposite idea of not having an HR department is also not practical. All businesses need HR to ensure smooth operations. HR management is necessary to fill in talent gaps, keep the workforce motivated, address employee concerns, and drive company culture. However, as inflation keeps tightening its grip around humanity’s neck, the idea of running a fully functioning HR department in-house is starting to seem more and more absurd with each passing day because HR, as a whole, is seen as a draining source of time, money, and efforts of all those who are involved behind making it a success.

Many businesses today do the smart thing and outsource difficult functions of their HR to 3rd party experts. Take recruitment as an example. It is a highly time-consuming and expensive task to find relevant talent. It can take up to 2 to 3 months to find, select, onboard, and train a new resource before they can start contributing as per company standards. Of the aforementioned duration, a majority of the time and money is spent on just finding the right person. When such tedious tasks are outsourced to HR consultancies, businesses save a lot of time and resources, which can be diverted further towards other meaningful purposes like building reward programs or developing flexible appraisal strategies.

Let us now look at some other unique ways in which HR consultancy services can help your business save resources and grow faster than your competitors.

• EXPERTISE: Not everyone can be good at everything. The most obvious reason for this statement being true is that it takes a lot of time and dedication to gain experience, which leads to expertise. HR is a big umbrella consisting of different functions like recruitment, payroll processing, performance management, labor law compliance, regulatory compliance, compensation and benefits, learning and development, employee development management, etc. In a typical HR team on the company payroll, achieving expertise in all these sub-functions of HR can be a challenging hurdle to cross, if not outright impossible. In specific functions like regulatory compliance management, it becomes even more difficult to keep up with constant changes in local, national, and international laws. Therefore, investing never-ending time and resources (internally) in such functions becomes a game of cat and mouse.
  Hiring a third-party service provider solves this problem. Established HR consultancy service providers like Exela HR Solutions have an army of professionals who experts in their own sub-function. This way, you never have to worry about playing catchup with changing labor laws or spend two months finding the right person to fill up a position. Experts get it done for you accurately and on time.

Also Read: Human Resources | A Peek into the Future

• EFFICIENCY: Let us look at an example of recruitment – you building a team in-house vs. you hiring an HR consultancy service provider. Let’s assume you need to hire 13 customer service representatives and one manager in the next 45 days. The first thing you look at is the budget allotted for this hiring activity. Now let’s assume you decide to run this activity in-house. You will need to hire talent acquisition professionals who will be on your payroll full-time. Then you will need to train these professionals, get them acquainted with the business, team-specific needs, etc. Then, sort them according to their expertise. TA specialists who are good at filling up technology positions will work with technology department leadership while TA experts who are good at filling up operations positions will work with the managers who manage the operations department. Then, you will have to spend more money and time on getting the right HR tools for your team, train the team on the new tools, and then wait while they work their magic.
  You spend money on salaries, HR tools, and training costs. Then, you wait until you get a set of applications. Your team sorts through them, shortlists a few, engages in multiple rounds of interviews, and then finally makes an offer to a few of them. More often than not, people will not accept the offer as they get a better offer somewhere else. If that’s the case, you then need to start the entire process again.
  Now let’s assume you decide to outsource this activity. You speak to a few HR consultancy service providers and choose to pick Exela HR Solutions. Once all the formalities and agreements are completed, our experts will get on a call with the decision-makers in your organization. We will note down your requirements, your terms and conditions, offerings, brand image information, deadlines, and other related information. Your job ends here. We then start the search for you using our specialized networks, advanced HR infrastructure, and tools. Within a few days, you will begin receiving thoroughly vetted interested applicants from who we have spoken with first, before sending them your way. Once your decision-makers give the go-ahead, we instantly begin the onboarding and training process of your candidates.
  The biggest advantage you will notice with expert HR consultancy service providers like Exela HR Solutions is that services like these are both time-efficient and cost-efficient. You get results quicker because of the expertise of the professionals you hire, and you pay only for what you get, that is, people. As a result, you save on all extra costs like buying expensive HR tools, training costs, and salaries. All the saved resources can then be easily invested towards the growth of the business.
• COMPLIANCE: Keeping a business compliant with local and global laws is daunting. New laws like GDPR & CCPA are introduced every once in a while, existing ones keep changing, and your business is expected to keep up with all of them or risk getting fined heavily.
  Running compliance management in-house can be a very costly project since you need to hire the best people in the business with large salaries who can take up this important responsibility of keeping every department of the business compliant at all times – a never-ending process. In addition to the large salaries of the experts, other compliance-related costs like administrative costs, enforcement costs, equipment costs, material costs, external services cost, fines for accidental delays or inaccurate filings, and the cost to maintain a culture of compliance within the organization add up quickly, increasing the financial burden of your company.
  Most of the time, when you hire a third-party HR consultancy service, these costs are greatly minimized since you pay only for one service, usually on a per-hour basis, as opposed to setting up everything from scratch. This again gives you a great opportunity to save resources and implement them into the core functions of the business like sales, R&D, marketing, etc.

Conclusion: Running everything in-house sure is convenient as it gives you a greater degree of control, however, it also increases your liability and the cost of running your business. Exela HR Solutions makes your decision to switch a no-brainer because you have full control while your costs are minimized to a very large extent. Get in touch with us to start your real growth journey today!

Sources: google.com | en.wikipedia.org | yourstory.com | consultancy.org | pideeco.be | digitalguardian.com

DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.

“Change is the only constant and hanging on is the only sin." - Denise McCluggage

The human resource industry, like all industries, has been progressing steadily using technology as the main driver. Better the tech, better the human resource solutions. HR, today, is at a stage where the technology is available but mass adoption is still a problem. Only a handful of companies are spearheading their way into technologically advanced HR solutions. So, what are these companies looking at? How are they formulating their long-term strategies? And why are they so invested in the research and development of their products and services? Let us have a look.

DATA IS KING

A LinkedIn study recently confirmed that almost half of all human resource professionals acknowledge that “data” is the top trend to look at in the recruitment process yet only 9% of hiring decision-makers admit to having good enough tech to process data and get the job done. This concludes that there is indeed a major technological gap and awareness problem that needs to be addressed first.

Today, a majority of the businesses in the human resource domain understand that they need to work on data because most of them lack the technological prowess to process it. This makes them dependent on 3rd party data mining and warehousing companies that help them process and interpret that data. Once the data is processed and interpreted, only then can these businesses create a meaningful story, anticipate future needs, and try new growth strategies for their business.

But this dependency on 3rd party data companies can sometimes do more damage than good. With such an arrangement, companies often lose control or have very little say in “how” the data is processed and analyzed. Questions are asked, data is processed, answers are given. This is how it works. But when research and development are done in-house, companies are free to do all sorts of permutations and combinations with their data. Human resource teams gain a holistic understanding by having a 360° view of their data. This enables them to further inspect, analyze, and attack the problem from various different angles in order to get to the truth. Such companies, that do in-house analytics, then have access to much more valuable data than their competitors who might have used 3rd party data processing services.

BUILDING TECH THE RIGHT WAY

Most people, when they hear about advanced automation technologies, like machine learning, artificial intelligence, neural networks, natural language processing, etc. they think about machines working round the clock, doing all the work for us. But this expectation is not pragmatic in the real world. In reality, most companies prefer a healthy mix of machines and human contributions. The first step of integrating advanced tech into your company is to optimize your workflow in accordance with the tech stack. Then carefully identify areas that can be automated or partially automated. Once this is done, humans can be trained on the new process. This is how tech should be built and optimized around human workflows. While you do all the creative parts that involve critical thinking and decision-making, software robots can make your life easier by doing all your grunt work like crawling through tens of thousands of web pages, shortlisting potential candidates, going through their resumes, extracting contact information, sending them the initial contact email, creating reports for you, and then sending the human resource department those reports via email. All this robotic process automation can happen in the off hours while you sleep.

You can also build talent pools using this type of automation. Ready talent pools can give you instant access to talent when you need it, cutting down the cost and time of hiring people. Some companies take up to 4 months to fill in a vacancy. With your advanced hiring optimization and ready talent pool, your human resource department can hire within 2 to 4 weeks and open up the possibility to surpass your competition effortlessly.

A SHIFT IN APPROACH

Approaching potential candidates has not been the same as before. With the advent of social media, “grabbing attention” has become the meta of the game. Traditional hiring techniques, therefore, seldom work as they are intended to. Talented individuals do not experience a dearth of offers which is why you, as a human resource manager, cannot fully rely on traditional hiring methods. You have to introduce modern, guerilla techniques to grab the attention of highly sought-after individuals.

The first step is to collect and analyze data. This data may include: average demographic of the people who might fill your vacancy, what social media platforms are they most active on, do they prefer email or chat, what type of media (video, blog, image) do they mostly respond to, what is your market reputation and what is the sentiment of these potential candidates towards your company or human resource department, are they frequently active or passive or both, etc.

Once all this information is known, you can start formulating strategies to attract top talent for your vacancies. Keeping a marketing mindset to approach this problem, with the help of data, can work wonders for your hiring efforts.

Also read: How to Spot Great Talent?

VIRTUAL HIRING

Google Trends data clearly shows explosive growth in remote virtual hiring after the pandemic. It has become one of the most important priorities of hiring departments and because of this sudden shift, virtual hiring tech like video interviewing and team collaboration applications saw a rise of more than 500% in March of 2020 in just one week!

The COVID-19 pandemic acted as a catalyst that resulted in the development and release of advanced remote working technological infrastructure. With no other option other than virtual interviews, companies rushed to create an ecosystem that could comfortably support remote work and hiring. All preconceived notions of remote working were tested rigorously and the results surprised the human resource departments. Productivity, in most areas, did not take a hit. With this conclusion, human resource departments have become serious about including remote work and virtual activities full time into their organizational structure because of the competitive advantage it provides.

Exela Technologies is a world leader in human resource process outsourcing. HR is what we do — day in and day out. We have a team of experienced HR professionals, each an expert, dedicated to their slice of the HR pie to make sure all your HR tasks are carried out correctly and on time. Not only do we bring the best HR practices and advanced human resource technology to your company, but we also minimize employment-related risks and help you take even better care of your employees.

• Fast and Efficient Talent Acquisition Process: Our well-built networks over the years allow us to find the right talent for your business as quickly as possible. This includes requisition management, sourcing and applicant tracking, interview assessments, offer management, onboarding management, and more.
• Global Payroll Processing & Full Employee Benefits Administration: Our powerful HR technology that will back your organization, has the ability to deliver payouts globally and on time. We also manage employee benefits like variable-component, hazard pay, overtime, etc. so your employees never get less than what they deserve.
• HR & Business Partner Services: Dedicated HRBPs for your employees to make sure every issue or concern of theirs is addressed effectively and on time. This includes grievance management, leave management, engagement activities and surveys, travel and expense management, rewards and recognition management, workshops, coaching and mentoring, virtual focus and open house meeting management, and more.

Speak with us today!

Sources: google.com | en.wikipedia.com | recruitingblogs.com | theguardian.com | linkedin.com | icslearn.co.uk

DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.

Running a business can be daunting. According to a recent HubSpot survey, 1 out of every 12 businesses in the United States shut down permanently each year. It may seem like a small number, but that’s a lot of companies going out of business – almost 2.6 million per year. The most common reasons for shutting up shop are apparent. Poor service, poor planning, poor product-market fit, hiring the wrong people, and inaccurate pricing are a few of the reasons that take down a majority of the businesses. But if you observe closely, all these problems arise due to human error. This is why hiring the right people and keeping them with the company for a long time is more important than any of these problems.

“Treat the cause of disease, not the symptoms.”

WHAT IS ATTRITION RATE & HOW IS IT CALCULATED?

In the simplest of terms, the attrition rate is the speed at which employees leave your company. For example, you own a multinational company with offices all over the world. You decide to calculate the global attrition rate of your company for January.

Looking at the data, you notice that there were 8,505 employees on your payroll on January 1st.

On January 31st, there were 8,604.

You dive deep.

In those 31 days, you find 308 employees left your company.

But your company managed to hire 407 people before the month ended, which totals 8,604 on January 31st.

Demographic-based attrition: This type of attrition can be classified as a sub-type of “voluntary attrition.” In this type, members of a specific age, sex, or ethnicity leave the organization due to a significant and common reason: discrimination. In addition to getting your company’s reputation damaged, your company might also lose business/customers very quickly if the rest of the world is made aware of these issues. Worst case scenario, you can be hit with a class-action lawsuit if the victims have strong evidence against your company.

So, since you’re in the net positive, no damage done, right?

Wrong!

Attrition rate still matters.

Let’s first calculate the average number of employees in January: (8505 + 8604) / 2 = 8554.5

Then factor in the number of employees who left the org and calculate the percentage using average employees: (308 / 8554.5) * 100 = 3.6%

Your company’s global attrition rate for January was 3.6%.

TYPES OF ATTRITION?

• Voluntary Attrition: Cases where your employee or employees choose to leave for their own reasons. Most common reasons include the pursuit of newer opportunities, relocating to a different country/state, paternity or maternity reasons, or health-related reasons. Willingness to leave a toxic work environment can also contribute to the voluntary attrition rate, which as an employer, you should be looking into as quickly as possible to fix the problem and prevent other employees from leaving.
• Involuntary Attrition: Cases where one of your employee or employees are asked to leave the organization. The most common reasons include poor performance or layoffs due to budgetary or reorganizational reasons. Abandonment from employment can also be categorized under involuntary attrition even though the employee has left voluntarily. This is because the company is responsible for taking the final call of termination.
• Internal Attrition: When an employee or a group of employees leave their team or department to join another team or department within the same organization. Although this seems like a good idea, excessive internal movement can have an adverse effect on the team. Too much movement at once or frequent movement of a resource from one team to another must be avoided to preserve the existing dynamics of the teams and their members.
• Demographic-based attrition: This type of attrition can be classified as a sub-type of “voluntary attrition.” In this type, members of a specific age, sex, or ethnicity leave the organization due to a significant and common reason: discrimination. In addition to getting your company’s reputation damaged, your company might also lose business/customers very quickly if the rest of the world is made aware of these issues. Worst case scenario, you can be hit with a class-action lawsuit if the victims have strong evidence against your company.

Also read: How to Spot Great Talent?

WHY DOES IT MATTER?

There are many important reasons why the attrition rate acts as a compass for your company, giving constant guidance on whether or not you are steering your ship in the right direction. No matter if you’re a business with five employees or 50,000 employees, the foundation upon which any business thrives is people and people only. The people of your company can either make or break your company. Therefore, it is imperative you keep a close watch on every aspect of your employee-related operations.

Too many people leaving your company can have a negative impact on the performance of your company. The first impact can be felt in the cost of hiring. According to some recent studies, replacing a highly skilled employee can range from 120% to 200% of their annual salary. If this practice remains unidentified for a long time, it can have a devastating impact on the overall budget, which might even result in a permanent shutdown.

A proper handover process is vital. Without a planned and extensive handover, institutional knowledge will permanently leave the organization, which is the worst kind of loss. Money lost can be earned back. But once old knowledge leaves the company without transferring it to someone else, employees are stuck and are forced to reinvent the wheel. Unless one has a detailed succession planning process in place, it is almost impossible to transfer all the knowledge an employee has acquired over the years. Following a proper handover process softens some of the hard blows that come with the problem of having a high attrition rate.

The departure of an employee will also affect the people who work around them. More often than not, the withdrawal results in additional pressure on other team members, who are already overloaded. Departures may also lower morale, increase stress, drain employees, and perhaps even affect the company’s overall business performance.

When someone leaves, it changes the dynamics of a team and can even damage the employer’s brand and the employer value proposition (EVP). This is the primary reason why recruiters often mention they have a hard time recruiting new people when the company has a history of a high attrition rate.

HOW EXELA HR SOLUTIONS IS HELPING OTHER BUSINESSES WITH ATTRITION RATE

Exela HR Solutions is a global HR outsourcing company. We offer a full suite of HR services to our clients, from recruitment process outsourcing and global payroll processing to benefits management and HRBP services.

We have a team of HR professionals, each an expert, dedicated to their slice of the HR pie to make sure all your HR tasks are carried out correctly and on time. Not only that, but we also bring the best HR practices and robust HR technology to your company that minimizes employment-related risks like accidental non-compliance and compensation miscalculation and helps you take better care of your employees.

Our HRBP services are great at combating high attrition rates. Our services are designed and executed to provide highly professional and dedicated one-on-one support for each of your employees. With the help of experienced HR experts and tried-and-tested methodologies, Exela can help you recover and grow by providing exceptional support and technology for your employees at all times.

Contact us today!

Sources: blog.hubspot.com | personio.com | peoplehum.com

DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.

Great talent is rare. But people who know how to spot great talent are even rarer. Why? Simply because of this age-old, unwritten paradox: “Game recognizes game.” It takes talent to spot talent. But, it’s not difficult at all. A slight change in perspective is all you’ll need to get started in the right direction.

This blog discusses how to cultivate this talent to spot great talent. Read on, and you just might find the next Mark Zuckerberg or Elon Musk!

• Think different: It is a basic human tendency to get comfortable with people with similar tastes and worldviews – birds of a feather flock together. This often hinders the ability to spot great talent. More often than not, talented people are inherently different. In a way, them not allowing themselves to think conventionally sets them apart from everyone else.
  
  Hiring managers need to understand that progress comes from change, and change comes from people who think differently, people who challenge the status quo. This is why big and successful companies like Google and Facebook insist on diversity. The more diverse the background of people in a team, the more different each one thinks while attacking the same problem. This results in solutions that are extremely difficult to replicate or break.
• Start building a robust network of talented individuals: Do this if you haven’t started already. Start creating different communities of engagement online. Allow them to know what your company does and display your work culture. We as humans have a natural tendency to inspect any new thing or place before we are sure that it is good for us. Online communities serve this exact purpose where talented people can come together and warm up to the idea of working for your company.
  
  While it is good for them, it’s great for your hiring managers too. With a tightly knit, highly engaged community of talented individuals, you always have a go-to place ready from where you can find the best talent for free whenever you have an opening in the future, without relying on incompetent sourcing strategies. Don’t start digging a well when you’re thirsty!
• Look for the right traits: Most hiring managers focus too much on resumes and past experience. Although it might give some insight into how an individual performs, it is often a poor indicator of talent and individual thought process. For certain skill-based high-risk/high-pressure jobs like surgeons or pilots, it is 100% acceptable and required to factor in past experience as it is the only thing that counts.
  
  However, for most modern, sedentary jobs that mostly require a healthy mix of critical and lateral thinking, focusing on resumes and past experiences might not be an ideal judging process. Instead, focusing on specific foundational traits like learnability, emotional intelligence, drive, communication, collaboration, persuasion, public speaking, brevity, mental organization, resource management, and time management can be a far superior method of judging and locking in talented individuals. And with artificial intelligence on the rise, these irreplaceable and innately human foundational traits have a greater demand now more than ever while continuing to rise in the future.

Also read: Will HR Outsourcing Be Feasible After Pandemic Ends?

Exela HR Solutions is an industry leader in recruitment outsourcing, and we deploy many more smart tactics like these to find great talent for your business quickly. HR is what we do — day in and day out. We have a team of experienced HR professionals, each an expert, dedicated to their slice of the HR pie to make sure all your HR tasks are carried out correctly and on time. Not only that, but we bring the best HR practices and robust HR technology to your company that minimizes employment-related risks and helps you take even better care of your employees.

• Fast and Efficient Talent Acquisition Process: Our well-built networks over the years allow us to find the right talent for your business as quickly as possible. This includes requisition management, sourcing and applicant tracking, interview assessments, offer management, onboarding management, and more.
• Global Payroll Processing & Full Employee Benefits Administration: Our powerful HR technology that will back your organization can to deliver payouts globally and on time. We also manage employee benefits like variable-component, hazard pay, overtime, etc., so your employees never get less than what they deserve.
• HR & Business Partner Services: Dedicated HRBPs for your employees to make sure every issue or concern of theirs is addressed effectively and on time. This includes grievance management, leave management, engagement activities and surveys, travel and expense management, rewards and recognition management, workshops, coaching and mentoring, virtual focus and open house meeting management, and more.

Try Exela HR Solutions today!

Sources: shrm.org | hbr.org | reports.weforum.org

DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.

An Alarming Trend in Employee Behavior

As an employee, regardless of industry or designation, what do you think is one of the most stressful parts of your job?

To an industrial electrician, replacing a damaged insulator on a 500,000-volt live electric powerline while dangling 300-feet above the ground could be stressful. To a CEO of a Fortune500 company, working on near-impossible-to-solve manufacturing problems could be stressful. But what is that one thing that is stressful for both? Hint: It comes once every year.

Yes, you guessed it right! Appraisals.

Since the 1960s, appraisals were conducted in the same way they are majorly conducted today – once a year, ending with disappointing results. Multiple researchers have consistently concluded that employees experience moderate to high stress before and during the appraisal process. One research done by the Neuroleadership Institute found that 90% of all employees said they felt discouraged after knowing their appraisal results which later resulted in diminished engagement.

So, in simpler terms, appraisals may be defined as a psychological machine that takes in happy, motivated employees and churns out discouraged, stressful, and unengaged employees. This is a huge problem.

THE TREND (A PROBLEM)

For the past 60 years, everyone was more or less okay with this system. Everyone did their best and didn’t think much about how things work. However, in recent years, a trend emerged in the markets that bypassed the system; finally freeing employees from the shackles of despair and unhappiness.

“Landing a new job before their performance could be evaluated at the old job.”

On the surface, this could be viewed as a big win. Employees stay happy and motivated and give their best without worrying or stressing about a raise or a promotion. That’s what any company would want, right? Happy employees, who give their best? Sometimes, yes. But most of the time, this is a clear indication of an oncoming disaster. Especially for companies that are small, new, and growing.

Companies spend a lot of time and resources on new hires. Weeks of training are usually given to new hires to ensure consistent, high-quality output, and it can take months before the employee becomes fully autonomous and efficient. After an employee has reached this stage, it may take a few more months to get a full return on investment – time, money, and efforts invested in making that employee fully capable of performing their job. This is called “the gestation period”. This gestation period can easily take more than 1 year, as it does in most cases.

If an employee leaves in the middle of this phase, the investment is considered a loss. If this pattern continues unchecked for a long time, the business at some point in the future suffers tremendously.

The second big problem with this trend is that attrition rates go through the roof – attrition rate is the rate at which employees quit. This attrition situation not only affects the business but affects other employees too. Work culture is disrupted, existing employees are over-burdened, and morale is reduced, causing stress and burnout. All these factors impact the business severely.

THE SOLUTION

Employers have found a solution to this problem, but there’s a catch. The solution is simple: break the 1-year cycle. Big giants like Adobe, Google, Microsoft, GE, and Accenture have successfully replaced the yearly appraisal process with a more frequent and less formal "check-in" process that usually happens every quarter or two months. This “check-in” covers all the essential topics like expectation, feedback, growth, and development. This worked wonders for Adobe.

The catch here is implementation. It’s a new and difficult change that needs to be implemented correctly. If not, it can most certainly come across as micromanagement.

Exela HR Solutions can help you implement this change because we know exactly how it’s done. HR is what we do — day in and day out. We have a team of experienced HR professionals, each an expert, dedicated to their slice of the HR pie to make sure all your HR tasks are carried out correctly and on time. Not only that, but we bring the best HR practices and robust HR technology to your company, minimizing employment-related risks and helping you take even better care of your employees.

• Fast and Efficient Talent Acquisition Process: Our well-built networks over the years allow us to find the right talent for your business as quickly as possible. This includes requisition management, sourcing and applicant tracking, interview assessments, offer management, onboarding management, and more
• Global Payroll Processing & Full Employee Benefits Administration: Our powerful HR technology that will back your organization, has the ability to deliver time global payouts. We also manage employee benefits like variable-component, hazard pay, overtime, etc., so your employees never get less than what they deserve.
• HR & Business Partner Services: Dedicated HRBPs for your employees to make sure every issue or concern of theirs is addressed effectively and on time. This includes grievance management, leave management, engagement activities and surveys, travel and expense management, rewards and recognition management, workshops, coaching and mentoring, virtual focus and open house meeting management, and more.

Try Exela HR Solutions today!

How are businesses thinking now?

The COVID-19 pandemic, fortunately, or unfortunately, shattered all fundamentals of doing business, fundamentals that were put in place and practiced religiously for more than half a century! Businesses tried hard to keep their heads above the water, and most of them made it to the other side, barely surviving.

The pandemic forced us to work remotely, collaborate over Zoom, and socialize awkwardly from our bedrooms. But on the contrary, it also forced businesses to rethink operational efficiency. As a result, businesses are now looking at things from a fresh perspective, which favors optimizing efficiency, productivity, and expenses.

A blessing in disguise?

HR outsourcing is not a new concept; it has been around since the 70s. Businesses worldwide have been using specialized HR outsourcing services to help in-house management executives focus more on revenue-generating activities like marketing, sales, and networking. But for businesses that never felt the need to move their HR function elsewhere, may have been presented with the perfect opportunity to take this leap of faith. Better technology, higher efficiency, and most importantly, normalization of remote work has inadvertently laid the groundwork for such companies to reconsider outsourcing their HR functions.

Savings

Maintaining an HR team in-house means spending time and money on recruiting, onboarding, training, payroll processing, understanding and implementing the constantly changing labor compliancy laws, and most importantly, paying all HR staff hefty salaries. Savings can also be realized when it comes to office space and equipment reductions. A recent study conducted on CEOs of Fortune 500 companies concluded that only 7% of them thought they would need more office space than what they had before the pandemic. Half of them thought they would need significantly less space after returning to regular work life. With the absence of an HR team, businesses save tremendous amounts of both time and money on such expenses, which can be diverted to more efficient and revenue-generating functions like sales and marketing.

How Exela HR Solutions is helping businesses come out stronger after the pandemic

At Exela HR Solutions, HR is what we do — day in and day out. We have a team of HR professionals, each an expert, dedicated to their slice of the HR pie to make sure all your HR tasks are carried out correctly and on time. Not only that, but we also bring the best HR practices and robust HR technology to your company that minimizes employment-related risks like accidental non-compliance and compensation miscalculation and helps you take better care of your employees.

• Fast and Efficient Talent Acquisition Process: Our well-built network over the years allows us to find the right talent for your business as quickly as possible. This includes requisition management, sourcing and applicant tracking, interview assessments, offer management, onboarding management, and more.
• Global Payroll Processing & Full Employee Benefits Administration: Our powerful HR technology that will back your organization can deliver payouts globally and on time. We also manage employee benefits like variable-component, hazard pay, overtime, etc., so your employees never get less than what they deserve.
• HR & Business Partner Services: Dedicated HRBPs for your employees to make sure every issue or concern of theirs is addressed effectively and on time. This includes grievance management, leave management, engagement activities and surveys, travel and expense management, rewards and recognition management, workshops, coaching and mentoring, virtual focus and open house meeting management, and more.

Try Exela HR Solutions today!

In the 1970s, just a few years before the digital revolution started to materialize, two particular companies, “Heidrick & Struggles” and “Korn Ferry,” started thinking in a unique direction, a direction that was never explored before.

Their thoughts quickly took shape, and soon after, they were fully ready to provide the world’s very first recruitment outsourcing service. This was the beginning of the human resource outsourcing industry. As years passed, the digital revolution came along, and with it came a huge demand for human resources. The stupendous growth of the tech industry automatically translated to massive growth in both the number of businesses and their sizes. A well-off company with, say, 2,000 employees now could reach many more customers in different geographies. This meant opening up newer offices and stores in newer locations with say, an additional 2,000 employees.

This change in pace instantly introduced another big problem for almost all businesses: How to manage thousands of employees across different locations efficiently?

Today’s human resource outsourcing solutions are undeniably more superior to what Heidrick & Struggles and Korn Ferry started with, in the 70s. A single group of HR professionals sitting in India or the Philippines can fulfill the HR needs of millions of different employees for tens of different organizations worldwide without breaking a sweat. After all, what supercharged this development? What made it so efficient? And why exactly did the demand for this service grow with each passing year? Let’s have a look.

THE HUMAN RESOURCE PROBLEM

Take any business as an example. Imagine a legal firm that has thousands of employees on its payroll. From lawyers, paralegals, legal secretaries, record clerks, and bookkeepers to IT professionals, management, and HR professionals. For any legal firm, in fact, for any business, to be successful, it has to have two primary objectives:

1. Retain existing clients + keep getting more clients to make more money
2. Keep the cost of running the business as low as possible to make more money

As newer businesses kept popping up during the digital revolution, competition increased drastically. As a result, more businesses were solving the same problem for more or less the same number of people. Therefore, in such markets, objective #2 became way more important than objective #1: Keeping expenses low.

The HR function of any business is a non-revenue generating department. Such departments do not directly contribute to getting more business for the company. These departments, although being 100% essential, cannot be confused with redundancy. But at the same time may not be allowed to operate at such a high cost. According to 2017 research, it was observed that businesses with at least 2,500 employees were spending almost $600 per employee per year on just their HR function. Surprisingly enough, it was further observed that smaller businesses with fewer than 250 employees were spending a whopping $2,375 per employee per year on just their HR function! Such expensive problems could easily bleed a company to death within a matter of months if not realized and addressed on time.

HOW EXELA HR SOLUTIONS IS HELPING BUSINESSES CONTROL OPERATIONS & GROWTH

At Exela HR Solutions, HR is what we do — day in and day out. We have a team of HR professionals, each an expert, dedicated to their slice of the HR pie to make sure all your HR tasks are carried out correctly and on time. Not only that, but we bring the best HR practices and robust HR technology to your company that minimizes employment-related risks and helps you take even better care of your employees.

• Fast and Efficient Talent Acquisition Process: Our well-built network over the years allows us to find the right talent for your business as quickly as possible. This includes requisition management, sourcing and applicant tracking, interview assessments, offer management, onboarding management, and more.
• Global Payroll Processing & Full Employee Benefits Administration: Our powerful HR technology that will back your organization has the ability to deliver payouts globally and on time. We also manage employee benefits like variable-component, hazard pay, overtime, etc., so your employees never get less than what they deserve.
• HR & Business Partner Services: Dedicated HRBPs for your employees to make sure every issue or concern of theirs is addressed effectively and on time. This includes grievance management, leave management, engagement activities and surveys, travel and expense management, rewards and recognition management, workshops, coaching and mentoring, virtual focus and open house meeting management, and more.

Try Exela HR Solutions today!

Sources: hrotoday.com | cogneesol.com | talentintelligence.com

DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.