Page 33 - SightsIn Plus, Nov 20

elements come up. autos).
One unexpected cost will be cost of You may also like to provide some
leave accruals. This year, most of the amount for creating positive healthcare
existing employees would not have experience which may include physical
gotten the chance to use their paid as well as mental health programs.
leaves due to lockdown. In case you are
concerned about your brand image, you Digital Tools
may like to encash part or all leaves or
increase accrual limits. 04 Cost
The change in
The Government has also been environment triggers
bringing in multiple reforms. The the need for digital
new wage code is an indication of the tools. You may consider tools for
same. Some companies might have communication, collaboration, work
to revise salary structure for their management, and data analytics. Some
frontline workforce to comply with of these tools are available for free but
the regulations, while at the same time they come with limitations. Limitations
protecting the salary of the employees. of users, limitation of time, limitation
Don’t miss to provision for these of functionality. Sooner or later, you
elements in your budget. will have to opt for them to enhance
productivity of your employees. In
some companies, this might fall under
Employee IT budget but this must not be missed.
Health and If you are going to hire in large
03 Safety numbers and you are planning to do
Another important area will be it yourself, you will experience a steep
to leverage the work from home This year you will need surge in the pricing of digital sourcing
model and explore gig contracts. to be more careful about employee platforms. Please budget for it or be
This may require sharper focus on health and safety. This is not limited to ready to explore some new platforms
outcomes which can further optimize insurance negotiation where you must and open market techniques.
infrastructure cost, overall manpower ensure coverage for COVID-19. Do
cost, and the way of working. provide for decent corporate buffer to On the learning side, evaluate digital
Invisible support employees. learning platforms with pre-configured

content alongside traditional
02 Costs Depending on the nature of your training approach. Even reimbursing
subscription charges for digital learning
business, you may also like to provide
There will be certain
invisible costs which for pandemic expenses like COVID platforms to employees interested in
testing, masks and kits, immunity
self-development can bring some value
were not there in the booster medicines, vaccination home.
HR Budget in the preceding years, so (hopefully), sanitizers, travelling
you can expect a surprise when those reimbursements (in separate cabs/ Work from
5 Critical Things to Consider While 05 Home Cost
In case you have
HR Budget Planning considered hybrid work
or work from home
settings, you might want to consider
some expenses that will arise out of a
home-office. This depends on policy
decision as well. Whether the employee
Business and Employee Work from will be responsible of his device,
connectivity, and power, or whether
HR Model Health and Home Cost the company will reimburse part of the
Invisible Safety Digital Tools amount to employee. In case you are
Costs Cost planning to manage the whole thing on
your own, do account for maintenance
expenses as well.

33 November 2020 www.sightsinplus.com