Why is employee retention crucial amid the ongoing COVID-19 pandemic? Is nurturing and engaging existing employees an answer to increasing employee retention complexities? Let’s find out how Borosil Ltd. is navigating these questions.
2020 was unprecedented in many ways as the world came to a standstill due to COVID-19. With uncertainty surrounding every type of activity, even the corporate world took a hit as companies tried to understand the effects the pandemic would have on their current and future employees.
A satisfied and engaged employee will always like to stay back and continue working and contributing to organisational growth. There has to be an emphasis on employee wellbeing & benefits to make their hybrid working more comfortable. This will generate unique employee experiences.
Reeling with the downside to COVID-19, we coped with losses during the several lockdowns and had to make some momentary tough decisions and had revoked those soon after that. On an optimistic note, 2021 has been a brighter year as life is returning to a ‘new normal’ with restrictions slowly being lifted in many parts of the country.
Employee retention is crucial because it takes time to build a strong team. To retain their employees, workplaces need to provide security. Better retention is a positive sign for a company as it increases output and productivity.
When the second wave of COVID-19 struck this year, Borosil Limited and Borosil Renewables Limited decided that in the event of an employee losing their life due to COVID-19, his or her family would continue to receive the salary for the next two years and we would take care of their children’s education till graduation. We provided insurance cover for COVID death cases.
It’s important to provide a positive work environment, encourage a work-life balance, and foster respect in the workplace. These are a few ways that companies can retain their employees and avoid cutthroat competition from other companies that are trying to hire them.
It is in times of a crisis that a company’s true mettle is tested. When employees feel they belong as a family and that companies care for their wellbeing, they earn their trust. A satisfied and engaged employee will always like to stay back and continue working and contributing to organisational growth. There has to be an emphasis on employee wellbeing & benefits to make their hybrid working more comfortable. This will generate unique employee experiences.
Companies should also focus on enhancing the employee onboarding experience. Transparent and two-way communication should be encouraged with the employees on business insights, achievements, and expectations. Creating a culture of recognition and feedback is also important. Companies should also focus on insights from exit surveys, to avoid the attrition of the talent.
At Borosil Limited and Borosil Renewables Limited, there have been many cases in which our homegrown talent has been nurtured and successfully brought up to the level of key positions. We also implemented various employee benefit programs & policies matching with industry standards which kept our employees more engaged and committed. We have also observed that the talent developed and grown internally, had more scope for retention within the organisation.
We have always valued our employees as our true assets and considered them to be the driving force behind the company’s growth.
There are several retention strategies that we as a company have implemented in the past few years which include COVID hospitalization policy for contractual workmen at plants, help employees & their family members for hospitalization & other medication with continual medical support. For the well-being of our employees, we held various COVID guidance sessions and various medical awareness sessions by well-known medical practitioners/doctors. We ran an in-house vaccination drive throughout the group along with Rapid Antigen Tests & Vaccination drives at Plants.
We also provided instant medical loans and extended financial support to our employees. We are tracking all employees to ensure their well-being and encouraging them to get vaccinated. We had a home quarantine medical support program with Apollo Clinics.
When the second wave of COVID-19 struck this year, Borosil Limited and Borosil Renewables Limited decided that in the event of an employee losing their life due to COVID-19, his or her family would continue to receive the salary for the next two years and we would take care of their children’s education till graduation. We provided insurance cover for COVID death cases.
All in all, it is only when there is a strong mutual trust between the company and its employees, their synergies match, leading to value creation, both for employees as well as the company.
All in all, it is only when there is a strong mutual trust between the company and its employees, their synergies match, leading to value creation, both for employees as well as the company. Click To TweetMany corporate firms and others today are definitely on a hiring spree, given that circumstances are improving, they are looking to recruit the best talent that is out there. However, a company that learns to value its employees and safeguard their interests while working on growth together, will understand that their retention has an overall impact on the brand’s perception as well.
