Page 31 - SightsIn Plus, Nov 20

Focus on Holistic
Well-being
Employee well-being was already
a part of the overall engagement
agenda much before the pandemic hit
us. But now, organizations will have
to refocus on holistic well-being to
strengthen the trust of their people.
Hence, physical, mental, and financial
well-being of people will take the
center-stage. Rethinking the holistic
aspect may include inclusion of wider
coverage of health insurance and health
checkups, providing fitness program
subscriptions, counselling sessions, and
financial advisory on tax saving and
wealth building. Today, people also
wish to work for organizations that
truly care for them. Helping people
manage uncertainty and ensuring their
well-being will likely raise engagement
levels, enhance productivity, and build
employee loyalty.

Expand the Bouquet of
Develop A Learning had to adopt various technological Benefits
Organization options for business continuity while Compensation& Benefits is another
working remotely. Now that it has
vital area which is all set to get
Fostering an environment of constant become the new normal, businesses have impacted in the new normal. The
learning has always been the key to a to think about a tech-led business model talent market has tightened up
sustainable business and the pandemic if they want to scale up in the future. For and there is a talent war to acquire
has only reinforced this need. If people e.g. investing in tools like AI chatbots for the top talent. Great benefits help
and organizations are not learning, they gauging the pulse of the workforce will attract and retain that talent and by
risk being obsolete tomorrow. Hence give insights into people’s behaviors reducing the turnover, businesses
reskilling and upskilling are norm of and preferences to engage with them can save money in the long run. As
the future to build critical skills and proactively. It shall empower people to per the findings of a recent survey
competencies, even for mere survival. connect, communicate, and collaborate by Willis Towers Watson, half of
Organizations must start co-owning with those who are physically scattered the organizations have already made
the learning needs along with the more than ever now. Apart from this, changes to their benefits program while
employees if they want to grow in process automation for real-time data another 11% are planning to make
business and achieve operational handling will be critical in creating an the changes. Expanding the benefits
excellence. Moreover, the pandemic has agile HR, which shall then focus more package to include offerings like
forced to find alternatives to in-person, on meaningful initiatives and business comprehensive Employee Assistance
onsite pieces of training and on-the-job problems without worrying much about Programs, stock options, work-related
learnings. Augmented reality and virtual the mundane tasks. or lifestyle-related benefits which can
reality are also being used to disseminate be offered to support the workforce.
the training programs. For this,
assessing cost-effective online learning As per the findings of a The focus of organizations has shifted
opportunities needs to be accommodated from survival and resilience to
that suits a remote work environment. recent survey by Willis recovery and the long-term health of
Towers Watson, half the company and redesigning people
Adoption of New of the organizations experience will be more critical than
have already made
Technology for Efficiency changes to their benefits ever. High-touch and high-care work
culture which truly values employees
Technology is pivotal to reimagine and program while another and caters to their learning and
redefine the work structure. When the 11% are planning to growth should drive the HR budget
pandemic hit us, organizations across make the changes. for 2021.

31 November 2020 www.sightsinplus.com