Page 21 - SightsIn Plus, Nov 20

Suchismita Burman

NPS, the MoTs can determine if: a) From medical insurance In certain identified geos,
Employees have a psychological bond perspective, employees now have a wherein employees were
with the organization and b) whether choice to top up on both company managing their own insurance
employees choose to be promoters or sponsored medical insurance plan plans and reimbursed, we
detractors of the organizational brand. as well as on the voluntary coverage moved them to Company
as well. In addition, any benefits provided medical insurance.
The 5 and 6 MoT are Total which we believe is industry This is above local regulatory
th
th
Rewards Decisions and Flexibility unique and we believe they align requirement, but we are making
& Predictability | Wellbeing | to our organization principles we these changes to align with
Navigating Through Life Situations continue to offer them. An example organization& reward principle
is Paternal leave which is provided of commonality in offerings
Employee Benefits – in case of untimely death of the globally.
Way Forward mother as the primary care giver on In order to be successful in this
maternity. Then the father becomes
Total Rewards and Employee eligible for leaves in the capacity of journey, we believe in below success
Well being are two key MoT’s as the primary care giver capacity in factors and every change in benefit
outlined above. We are relooking line with Maternity leave policy. offering or wellbeing initiative
into our benefit offerings across all should work on these factors to
the 15 countries we operate in and In certain geos,Medical insurance ensure it’s a win-win proposition
are ensuring that they align with premium costs were 100% borne for both employee and employer.
organization principles and rewards by employer and had no choice in
philosophy - Competitiveness, plan offerings. Again, in alignment Gaining leadership mindshare
Commonality in the offering and Cost with organizational principles on driving wellness initiatives.
optimization. and rewards philosophy, we are Select leaders identified as
now offering 3 plan choices for “Change Influencers” partner
• Competitiveness employees to enroll into and there with HR in these initiatives
Having benefits which are aligned is some amount of premium cost starting from vendor assessment,
to market benchmark and ensuring which employees bear, though the seeking employee feedback and
ability to attract and retain talent. amount being very minimal. This prioritizing how and where costs
change is driven in alignment with should be optimized.
• Commonality in the offering organization & rewards principle
Ensuring the benefits offered of competitiveness and cost Allocation of Budget at the
such as group medical insurance optimization. beginning of each financial year
covers all employees in each of for the well-being goal.
the countries, we operate under
a single company offered a plan Making it integral part of
and also align to local government Performance Management.
requirements. Ensuring the Managers taking responsibility

• Cost Optimization perspective benefits offered such for wellbeing and HR facilitating
these in structured way and
Evaluate multiple offerings as group medical creating an ecosystem for
including the perspective of long- wellbeing to be mainstream.
term sustainability. The key is insurance covers all
to leverage internal technology employees in each Incentivization and gamification
platforms and ways to build on the to encourage sustained higher
employee experience on benefits of the countries, we level of participation.
and well-being while carefully operate under a
evaluating the “perceived value” Ensure formal defined policies
of external options that have a cost single company across all benefits are made and
implication. offered a plan and easily accessible to employees.
Below are few examples of how also align to local Exclusive “Wellbeing” intranet
we are aligning to a more mature government portal providing visibility on
employee benefits offerings which monthly calendar of events,
are aligned with our organization requirements. sessions, webinar and other
principles and rewards philosophy. initiatives.

21 November 2020 www.sightsinplus.com