Working women in India – A perspective

Working women in India – A perspective

India and its economy have made tremendous progress in recent years, with the GDP showing a 4X growth from the 90s till mid-2010s.

However, women, by a fair distance, have not been able to grow and progress with the Indian economy. The female labour force participation rate stands at just 27 per cent when compared to the 96 per cent for men.

With a global average of 49 per cent, India lacks far behind in terms of female participation in the workforce. There are several factors that influence the dismal rate of the participation of women at workplaces.

India’s deeply-rooted patriarchal norms restrict the mobility and freedom of women to live the life of their own and make their own decisions.

The burden of household work which is not in favor of women and unlikely to change any time in future.
Huge scarcity of gender-balanced and equally-paid jobs as compared to men.

It is important that women get the necessary access to jobs that pay them the same amount as received by their male counterparts. It’s a primary human right and not something that must be demanded.

Women today are very ambitious and their lack of participation cannot be attributed to a lack of will or interest. Whether it’s urban or rural India, many women aspire to go and work if they get jobs that pay them well.

According to the International Monetary Fund (IMF), India’s GDP can grow and become strong at a rapid rate if the subsequent participation of women in the workforce is increased.

It only makes it imperative and logical that women who are talented can contribute towards a strong economy and a bright future for the country.

With the advent of digital technology, work practices are getting refined for good. As businesses adopt the latest cutting-edge technology and solutions, the way people do their jobs and meet the goals and objectives of the organizations are getting changed.

The time is ripe to rewrite the rules and reduce the gender disparities towards ensuring holistic participation of women and rewrite the rules of working women in India.

 

 

Why do work distribution and responsibilities need a rework?

According to the 2017 Global Gender Gap Report, men only do 12 percent of unpaid work as compared to the staggering 66 percent done by women.

It is a global phenomenon and affects women across the globe as they get burdened with numerous responsibilities. According to the Organisation for Economic Co-operation and Development (OECD), women spend close to eight hours doing unpaid work as compared to one hour of unpaid work by men.

Women also get engaged in a lot of care work for their children, elderly and end up spending almost five hours worth of their day doing that.

Women who spend a lot of time doing unpaid and care work will automatically have less freedom to make their decisions and live life according to their terms. In rural areas, young girls are often burdened with household chores and are not allowed to go for higher education.

Also, there are several preconceived notions that in families where male member earns decently, the woman must not think of working. These are significant factors that further push women towards a lot of unpaid work and curtail their freedom to think and live independent life.

There are women-centric work laws in India but often they paint a wrong picture or end up stereotyping an issue. The fact that Indian women receive 26 weeks of paid leave as part of their maternity benefits and nothing similar for men, highlights how women are primary caregivers.

These laws, too, are available at only major corporations where women receiving such benefits are not many. Besides the significant gender wage gap, women are also left behind when it comes to promotions.

Men, in most cases, do not try to remain away from work due to the fear of missing out and lagging behind their counterparts at the workplace. Policies must be redefined so that the caregiving responsibilities are a bit balanced to tilt it in the favor of working women in India.

 

Need for social security and protection

According to the “The Future of Work in India: Inclusion, Growth and Transformation” report published in 2018, around 51 per cent of the Indian workforce is self-employed.

Casual labourers account for 33.5 per cent and regular, salaried workers are 15.6 per cent of the overall workforce. The national labour regulations do not cover all the above workers who form a significant portion of the workforce.

At the same time, many women in India are a part of the informal economy as compared to professional jobs. Around 60 per cent of the Indian unregulated domestic work sector is occupied by women.

With the changing trends in businesses and economy, the world is witnessing a rising trend of independent contracting, gig economy, temporary work and platform work. These jobs offer a lot of advantages like reduced barriers to entry, lower transaction costs, cheaper access and flexibility.

However, these jobs do not cover various aspects of social security and benefits that are given to employees in permanent jobs. There is a need to make better provisions for both social security and protecting the interests of those involved as independent workers. It can be given directly to individuals who work independently rather than routing it through their employees.

 

Need for a safer workplace for women

The 2013 Sexual Harassment of Women at Workplace Act that prevents, prohibits and offers redressal is a welcome measure but hardly known by those who must know it.

Observer Research Foundation (ORF) and the World Economic Forum (WEF) conducted a survey in 2018, in which it was revealed that 84 per cent of organisations were unaware of this act.

While policies would be available in many organisations, steady implementation becomes important. It is all the more crucial for the gig work economy that is already not a standard economy and doesn’t offer any security or protection of the rights of the freelancers.

The rules and laws governing their interests must be created after all the gig economy is anticipated to grow rapidly in the coming years.

Safety, on the whole, remains a major issue for working women in India, besides the societal norms that restrict their free will and mobility.

Many women in India still need to seek the permission of their husband or elders before making any decision or venturing out of the home. With the environment in most Indian states not safer for women, it further leads to decreased participation of women at work and other activities outside their house.

 

Need for diversification of women in other industries

Working women in India have been predominantly found in large numbers in sectors like healthcare, education, social work, to name a few.

These industries do not offer high-paying jobs despite working patterns remaining at par with fellow industries. The participation of women in high-paying industries and jobs like IT and financial services remain very low. The jobs that are highly-skilled see 8 out of 10 positions filled by men.

According to the 2018 ORF-WEF research study, 36 per cent of the organisations do not look forward to hiring female employees as they prefer male employees.

This is in contrast to the perception that the participation of female employees in the workforce is seeing a rise. There are several challenges ahead in the form of uneven distribution of high-skilled jobs, occupational segregation, and gender preferences of organizations.

The gender disparity is further visible in the choice of higher education. Boys are always groomed for higher studies so that they have better job prospects.

There is a need to push women towards obtaining better degrees and subsequently taking up higher-paying jobs. They can also become role models and motivate the next generation, to eventually improve the situation.

 

Need for balanced wages

The 1976 India’s Equal Remuneration Act clearly states that the same or similar work must have equal pay for men and women.

However, the disparity in the wages still continue and increase further with the factors like experience and age, which de-motivates women to continue working.

Several countries around the world still have a significant gender pay gap, but most have managed to narrow it down. Iceland was the first country in the world in 2018 to make a mandate on the gender and ethnicity-based pay gap.

Any organisation with over 25 employees requires auditing its accounts every three years to receive certifications from the Government. Such measures could really pave way for reducing the gender-based pay disparity in the future.

However, with the growing influence of the gig economy, the problem might not solve. According to the “India Wage Report, Wage policies for decent work and inclusive growth” report published in 2018, the highly-experienced men who work as freelancers earn twice the money as compared to their female counterparts. The issues are far from being addressed and the situation could take a lot of time and steady interventions to improve.

 

Need for better inclusivity of women

Traditionally, the planning for most of the important, facilities, products and services have been designed keeping men in mind. Whether it was seat belts or medicines.

It has been proven that seatbelts are less safe for women as according to studies, 47 per cent female drivers are more likely to get injured in a crash.

Women and men have different anatomies and responses to certain medical conditions. Despite this fact, medicines have been usually tested on males, leaving women at risks.

The importance of women in the consumer world has largely been restricted to cosmetics and there is a growing need to think beyond that. There lies a bright opportunity for course correction and make future products and services women-oriented.

Currently, only 14 per cent of working women in India run businesses, which can be attributed to the fact that there is a lack of access to finance and resources.

The establishment of the Entrepreneurship Platform (WEP) by Niti Aayog could be termed as the step in the right direction. The participation of women in the Indian parliament is around 10-15 per cent which is a cause of concern again.

The situation will only improve if more women are posted at leadership positions. It will help make the voices of other women heard and inspire the next generation of women to become leaders and bring about the much-needed change. Social media and its immense potential can be harnessed in the right manner to bring a mind-shift change.

 

What the future holds for working women in India

As the trends in the business world change, the gig economy, which is on the rise, can be a great opportunity for women to contribute their valuable skills while at the same time retaining flexibility.

With the changing business patterns, non-routine tasks will require better skills like listening, interpretation, problem-solving, communication, etc.

Women have been traditionally known to be better listeners, which has been further validated through a study conducted by the Organisation for Economic Co-operation and Development (OECD).

According to the study, women were found to be better than men when it comes to problem-solving in teams. This was proved in all of the 52 countries that were surveyed.

This makes women well-prepared for the challenges that lie ahead. Inclusion has been spoken for a very long time and there can’t be a better opportunity to implement it whole-heartedly.

To conclude, there is nothing that could stop women from breaking the social norms, shedding off inhibitions and standing at par with men in any of the male-dominated industries.

However, for that to happen, working women in India must be first the given the chance to occupy the same space as men at the workplaces.

 

Want to stay updated with the latest Stock Market, Financial, Mutual Funds news, information, videos, tips, and podcasts? Download our Koppr App and don’t miss any updates. Download Now!

How to create a CSR policy at your company

How to create a CSR policy at your company

CSR stands for Corporate Social Responsibility. CSR is a management concept where different organizations integrate the social concerns into their operations taking place for business.

 

 

What is Corporate Social Responsibility or CSR all about?

CSR can be defined as a way by which a company functions towards achieving a balance between economic, social and environmental imperatives. The process by which companies manage their business to bring about an overall positive impact on society is known as CSR.

The main purpose of CSR is to participate in various philanthropic causes, give back some good returns to the community and also spread good social values.

Nowadays, a large number of organizations are turning towards CSR for bringing about a difference along with the motive of building a positive brand for the organization.

CSR covers social impact, ethics, and the ways by which companies can manage their business processes to have a positive impact on society. Moreover, it can also be said that philanthropic activities performed by companies is a part of CSR and CSR includes a much larger set of activities which can give various strategic benefits in the business.

Some of the major CSR issues can be listed down as engagement of stakeholders, environmental management, and gender balance, human rights, sourcing in a responsible manner, social equity, excellent governance, and implementation of anti-corruption measures, etc.

When a CSR concept is well implemented in an organization, it can bring various changes such as improvement in the productivity and in the quality of production, efficient human resource base, increased customer loyalty, improved image of the brand and good reputation of the organization, better decision making, etc.

Some of the very common examples of corporate social responsibility can be listed below.

  • Bringing changes in corporate policies for benefits to the environment.
  • Making investments that are economically and socially suitable.
  • Making improvements in the labour policies of the organization and initiate fair trading.
  • Reducing the carbon emissions to stop negative impact on climate.
  • Engagement of the organization in charitable activities in the organization.

 

Is CSR compulsory for Indian companies?

In the world, India is the first country which has made CSR compulsory for its companies. This has been implemented in India with the help of an amendment made in the Companies Act, 2013. This has been implemented since April 2014. Business organizations in India can invest in various philanthropic areas such as poverty, gender equality, education, etc.

According to the amendment made in the Companies Act, 2013 those companies which have a net worth of Rs. 500 crores or more or have an annual turnover of Rs. 1000 crores or more or a net profit of Rs. 5 crores or more than these companies must spend 2% of their average net profits which has been acquired over 3 years on CSR.

Before this amendment has been made into the Companies Act, 2013 the contribution of Indian companies towards CSR was voluntary in nature. The expenditure on CSR must be informed to the shareholders of the company.

The expenses which are incurred by Indian companies for CSR cannot be used for claiming tax deductions under the heading of Taxable Income. However, there have been certain changes made into the CSR contribution of Indian companies by an amendment made in 2019 into the Companies Act, 2013.

 

Benefits of a robust CSR program

Let us list down some of the major benefits of a robust CSR program.

Increased employee satisfaction

By CSR program, it becomes quite clear how a company is treating its community. When a company is treating its community well, it would also treat its employees properly. This helps the employees in being much more satisfied and content at work. When your employees are satisfied, they would give in more efforts and it would improve the productivity of the company.

If you are giving your employees an opportunity to volunteer during the work hours, you are contributing to making a great connection with the community.

Your employees will feel confident and even motivated by being involved in activities associated with the community. Many employees when are actively involved in the community, turn out to be brand ambassadors.

The productivity of your organization will increase when your employees are more involved in the organization and in the community as well.

 

Public image is improved

Today, those companies which are involved in CSR program will get exposure and their brand reputation is improved in the market.

When your company is helping the community, more and more customers will be interested in purchasing your products. This will enhance your public image and your business as well.

You can use social media for propagating about your company’s CSR initiatives and let people know about your efforts. This will be beneficial for your business and will improve the reputation of your brand.

 

Increase in customer loyalty

When your company is involved in CSR initiatives, your customers are going to much more loyal towards your company. Your company’s involvement in community activities and social initiatives will highlight the core values of your company. Your core values will attract your customers towards your organization and they will remain loyal always.

 

Increase in creativity

If you want your employees to think differently, think out of the box; then program associated with Corporate Social Responsibility is the best way for this.

With these initiatives, your employees would feel more motivated, encouraged and can try to do new innovative things. Your employees can find out new methods by which they can solve an internal problem or improve the internal processes of the company.

Corporate Social Responsibility will help your employees in understanding their passion for doing certain things differently and bring out the latent creativity within them.

 

Communities can get involved in the business

There are numerous programs associated with Corporate Social Responsibility where you can invest and incorporate the communities into your supply chain.

This will help in generating good livelihood and would increase the income of the community. By this initiative, your company is providing an additional supply chain to the community and helping them economically.

 

Do you have any questions related to CSR Policy? then ask our experts and get an instant answer. Join Koppr Tribe Now! Download Koppr App Now!

 

What is Clause 135, Companies Act 2013?

For certain classes of companies, the Ministry of Corporate Affairs has made Corporate Social Responsibility mandatory as per the provisions of Clause 135 of the Companies Act 2013 and Schedule VII of the Companies Act.

According to Clause 135 of the Companies Act 2013 every company in India which is having a net worth of Rs. 500 crores or more, turnover of Rs. 1000 crores or more or a net profit of Rs. 5 crores or more has to constitute a Corporate Social Responsibility Committee(CSR).

This Committee must comprise of 3 directors out of which one should be an independent director. For private companies, which consist of only two directors the Corporate Social Responsibility (CSR) Committee can be formed by only two directors.

Moreover, in case of unlisted companies that are both public and private companies and do not appoint directors can constitute the Corporate Social Responsibility (CSR) Committee without any director.

For foreign companies, CSR Committee can constitute at least 2 persons i.e. one person must be an authorized person who is a resident in India and another person who would be nominated by a foreign company.

 

Major duties of the CSR Committee

  • The CSR Committee will recommend a CSR Policy to the Board which shall specify the activities which need to be performed by the company according to Schedule VII.
  • The Corporate Social Responsibility (CSR) should recommend the expenditure that has to be incurred by the company for performing the CSR activities.
  • The CSR Committee will be monitoring the CSR policy of the company regularly.
  • The CSR Committee would implement a mechanism for the implementation of the CSR programs of the company.
  • The Board of directors of the CSR committee of a company has the below-mentioned responsibilities.
  • The board of directors must ensure that the CSR activities of the CSR policy are undertaken properly.
  • The board of directors must ensure that the company must spend at least 2% of the average net profit which has been made by the company in the immediate 3 financial years.
  • The directors of the CSR Committee must approve the CSR activities and disclose the contents in the Board report.

We can highlight some of the major points which are included in the CSR policy of a company.

  • CSR policy of a company includes a list of programs that are planned by a company to be done under Schedule VII of the Companies Act, 2013.
  • The CSR Policy will monitor the proper implementation of these programs.
  • The CSR Policy would also ensure that the surplus which arises out of the Corporate Social Responsibility (CSR) programs should not be considered as a part of the company’s business profit.

 

How to develop a CSR strategy and policy at your company?

Let us have a brief look at the steps that are needed to develop a CSR policy and strategy.

Step #1: CSR policy must be linked to the core values of the company

Your CSR policy for the organization must be linked or aligned with the values, mission, and goals of the company. If they are not aligned up with the core values of the company, you will never obtain the desired effect that you expected to obtain from the CSR policy.

 

Step #2: Understanding your customers

When you are developing a CSR policy for your company, it is necessary for you to understand the problems of your customers. When you are pro-actively addressing the issues and problems of your customers, you are turning down many negative feedbacks against your CSR policy in the first place.

 

Step #3: A strategic fit and maintain consistency

The CSR goals of your company must be a perfect fit for your company’s products and services. Moreover, you should also maintain consistency in your CSR policy. The CSR policy must be shared with the employees and the outside world as well. This will help in having a clear understanding of the views of others on your company’s CSR policy. This will help you in making any changes to the policy if needed.

 

Step #4: Focusing on the correct issues

There are numerous issues that can be highlighted in the CSR policy and can be included in the CSR activities. However, it is important to give attention to only those issues which are relevant and quite critical.

Certain issues like energy cost, fuel prices, renewable energy, wildlife preservation, global warming, promoting literacy and education, energy/water conservation, fair minimum wages for workers, recycling, climate changes, unemployment reduction, supporting charities, etc. are quite relevant and associated with all. So, when the CSR activities involve these issues the implementation of the CSR policy would be more successful.

 

Step #5: Simple CSR policy and the work must begin from within the company

It is wise to keep the CSR policy of your company simple. Complex CSR plans will make things complicated and the real motive would not be achieved. The work for implementation of the CSR policy must start from within your company. You should encourage the participation of your employees into the various activities related to the Corporate Social Responsibility policy. This will help in bringing out the innovative side of your employees.

 

Step #6: Your CSR policy must be publicized

It is necessary that the public and general masses are aware of your initiatives associated with Corporate Social Responsibility. You can make use of social media, websites, brochures, company newsletter, etc. to publicize the efforts you and your employees are putting in for the implementation of CSR policy.

 

Read More on How to Improve your Credit Score

 

CSR and SMEs – How can SMEs contribute to CSR?

SMEs or otherwise known as Small and Medium Enterprises employ almost 40% of the nation’s workforce and are a contributor of around 45% to the manufacturing output of the nation.

SMEs are those enterprises that serve independently, act as subsidiary units for larger businesses and help in industrializing the rural areas of the country. CSR activities for SMEs are mainly dependent on the promoter’s interests who are financial stakeholders in the business.

Mostly, SMEs in our country have participated in the CSR activities in a full-fledged manner. However, according to statistics and survey results, the efforts and results of SMEs associated with CSR activities have not been that great.

The major reason behind this can be the dependence of CSR activities of SMEs on the profit of the enterprises. Any negative impact on the profit of the enterprise can have a negative impact on the CSR activities of the company as well. Moreover, there is a shortage of proper skilled human resources in SMEs which can be a cause affecting the CSR activities in SMEs.

With the amendments made into the Companies Act, 2013 there have been certain changes made into the approach of the SMEs towards CSR activities.

According to this new approach, resources from many SMEs can be pooled together and CSR activities can be carried out in a cluster. This can be termed as a collaborative approach of SMEs towards CSR activities. With this collaborative approach, there can certain benefits which can be mentioned below.

 

Reduction in operational cost

By collaborative approach, a common organization can carry out all necessary activities collectively for all entities such as the establishment of a CSR department, finding out the needs of the local communities, conducting sessions for CSR activities, etc. This will lead to a great reduction in the operational cost.

 

Long-term projects can be undertaken

For SMEs, one of the biggest constraints is the budget for CSR activities. When the profit of the SMEs is low, the budget for CSR activities would also be low. By collaborative approaches, resources are pooled and hence budget can also be increased as other partners can contribute. By this, long term CSR projects can be undertaken easily.

 

Learning is feasible

When there are many resources pooled together from different entities, there is a scope of multiple participants sharing their experiences. By this, there is more exposure to the problems of communities and also better measures can be undertaken to resolve the issues of various communities.

 

Process of CSR policy implementation for SMEs

The process for the implementation of the collaborative approach for CSR policy can be summarized as below:

In the first step, an alliance has to be created by all those SMEs which are interested in performing certain activities associated with Corporate Social Responsibility. Then a detailed discussion on the budget and CSR activities to be performed can be done between the members of the alliance.

In the next step, a steering committee has to be formed by representatives from each SME for discussion and decision on matters related to the implementation of CSR policy, fund management, etc.\

The next steps involve the design of CSR strategy and policy, project development, an institutional mechanism, contracting, budgeting, monitoring and measurement of impacts.

 

Conclusion

Hence, Corporate Social Responsibility (CSR) can be said as a business model that is self-regulating in nature. It helps a company to be accountable socially to its stakeholders and to the public.

By the practice of Corporate Social Responsibility (CSR), a company is engaged in its ordinary process of business and also in activities which are contributing positively towards the society and the environment.

Mostly, the initiatives for CSR activities by larger corporations are publicized and are in the limelight. However, small and medium scale enterprises have also started taking up the CSR program quite seriously and are contributing positively towards it.

 

Want to stay updated with the latest Stock Market, Financial, Mutual Funds news, information, videos, tips, and podcasts? Download our Koppr App and don’t miss any updates. Download Now!

Should you allow remote working for employees

Should you allow remote working for employees

The corporate world is going digital and remote working is on the rise. While permitting employees to work from home, away from a corporate office, has been around for a while, remote working is now becoming mainstream.

One may see more and more companies not investing in huge office spaces and employing resources who can work for them from home. While this may seem like a pro-employee practice, it is a game-changer for the employer.

The business world is obsessed with millennial’s right now. The generation come-ups with new corporate ideas every day, and isn’t afraid to express them in a creative way.

 

 

 

You could be running a media company, a tech studio, a production house or a retail model, having your employees working remotely means fewer cost heads and a more productive work culture. So, what do you mean by remote working? Are you considering it for your setup? If the answer is yes, you need to know a few things before you go for it.

 

What is remote working?

Remote working is the flexibility given to an employee to work at his/her own pace and space. So, when you hire someone, you don’t have to worry about making him/her sit in your office.

You could have them work from home or from a co-working space or coffee shop, whatever suits you. Also, if you don’t have to pay competitive market salaries.

A lot of remote employees work on an hourly basis or as consultants for multiple companies, hence, their fees are not what it would be if they were working in a single corporate setup.

You could have a system where your employee works from home for most of the week and meets you once a week for updates and meetings.

One may see a sudden rise in co-working spaces too. These places act as centers to facilitate organic working without worrying about unwanted guests, connectivity issues, and a not so conducive working environment.

Co-working spaces also give your employees a chance to network. Since a single-center holds multiple organizations across industries, it is possible that your employee can get you business deals, prospective hires and also act as promotional channels for you.

‍Now that you are clear about what remote working essentially is, you might want to understand how it can benefit you.

There are plenty of benefits of remote working for employees and employers, ranging from higher productivity to happier, healthier work cultures.

 

Benefits of remote working

Flexibility

This is one of the most obvious benefits, and it seems more in favour of the employee than anyone else. But, if you think again, you are also working remotely as an employer.

You don’t need to sit in an office with your team to get your work done. You could be vacationing with your friends or spending quality time with your family, your work does not suffer and you don’t have to face the brunt of Monday Morning Blues and a deadline on Friday.

Flexible working means flexible lifestyle, and that gives you as well as your employees the chance to live their dream of travel, pursue a hobby of cooking, follow their passion for dance and still work and make money.

Since travel to work does not apply to you or your team members, you can start your day early and finish in good time to take your dog for a walk, run errands or just be present at home when your children come back from school.

Since physical presence is not required, it is the perfect setting for pursuing a Master’s degree, a language course or a training program that just doesn’t happen in a 9 to 5 scenario.

 

Better Health

One may have never heard of remote working employees getting stressed out with work. They have high motivation and higher morale to work which means more productivity and lesser chances of attrition.

In India, most big cities come with the havoc of long-distance daily travels and pollution, a huge matter of concern and the number one cause for stress and fatigue.

There is also no stress of dressing up and fitting in. You can work in your pajamas in your balcony with a pedicure happening on the side, and you’re still more productive than your in-house counterparts.

Less stress and fatigue also leads to lesser absenteeism. Your employees are so comfortable and at ease with this setup, they don’t feel the need to skip work unnecessarily.

 

New Passion and Drive

Remote workers work better than the 9-5 force. They are more inspired, motivated and comfortable working with lesser distractions and counterproductive meetings.

It brings with it a new passion, perspective and drive to perform and make time for other things. These employees excel in their work, achieve goals and even go the extra mile since they perceive their work to be more like a reward for themselves.

 

Higher productivity

Studies reveal that remote employees love the perks of their work so much, that they don’t mind putting in a few extra hours or go beyond their scope of work because they are highly motivated. One study stated that 65% of full-time employees had increased productivity when asked to work from home.

 

‍Cost-Effective

If you are running a company of products and services, you can do away with the cost of office rent, electricity, supplies and furniture. Employers can save a substantial amount of money per remote worker per year, even if their entire team is not working from home.

 

‍Engaged employees

If a highly motivated team with better productivity isn’t enough of a carrot, one can offer remote work opportunities to keep their employees happy and engaged.

More and more people today are quitting their jobs to work remotely and some are even willing to take a pay cut to work from home. Remote employees have reported being happier than non-remote employees, which means you have a consistently performing team always.

 

Ask experts why working remotely is a good option. Get instant answers to your questions. Join Koppr Tribe Now! Download Koppr App Now!

 

Misconceptions about remote working

There could be a myriad of benefits of remote working, but it also comes with its setbacks and misconceptions.

 

Miscommunication

A very common misconception about remote working is that it creates miscommunication. While remote workers don’t bond over coffee breaks and don’t indulge in water cooler conversations, one can have a good team-building exercise done over video calls, offsite meetings, and team lunches.

With the present-day set up of video conferences and WhatsApp calls, no team member is far behind in communicating their needs and requirements with others.

Nothing gets missed out unless the intent isn’t there. Since remote workers have major FOMO (fear of missing out) they tend to take extra effort in establishing a bond with their team members.

 

Remote workers always work

Remote working means no fixed schedule. While this is the biggest plus of working from home, it could have a setback of constantly being nudged for work by colleagues and superiors.

One must strike the right balance and manage time well, so the employee does not under-work or overwork themselves. You can chart out a time slot most suited for you, set expectations about deadlines and stay committed to it to avoid work-related issues.

 

‍Remote workers don’t work

While remote workers are not valued by every organization, some still feel remote workers don’t work. Since there is no monitoring of time and productivity, people live under the impression that a remote worker wiles away his/her time in doing nothing since he/she is not watched upon.

On the contrary, remote workers work better. They have their own special time schedules. Some prefer early mornings, some are more productive at night, but whatever they do, they get the job done.

Some interesting statistics about remote working as per global surveys and studies:

  • More than 50% of the Indian working population work remotely half of the week and about 11% work outside their main corporate office.
  • 53% of remote workers were shown like to work overtime beyond the call of duty as compared to the 28% of 9-5 office goers.
  • 80% of remote workers reported improved morale.
  • 37% of men and 31% of women worked from home at some point in their lives.
  • 66& of workers stated that working from home led to increased productivity and output.
  • Almost 69% of the workforce in India agreed that flexible working hours means a greater work-life balance.

 

How can you transition to remote working easily for your organization?

  1. You can begin by talking to your team and analyzing each employee and set a fixed scope of work.
  2. Identify potential remote workers in the organization and talk to them personally.
  3. Come up with a carefully thought out strategic plan to organize the process of transition from a 9-5 force to a remote group.
  4. Ensure you have the essential tools, technology, resources and software to fit a remote working culture.
  5. Build a culture of mutual trust and understanding to have better efficiency, seamless communication and higher productivity.
  6. Create an online communication system where all members can participate freely and effectively.
  7. Train your remote workers to be responsible for their own tasks and provide them with training sessions and all the required resources to do their jobs effectively.
  8. Create a well-suited remote working policy for your company, compliant with Indian working laws.

 

How to define a remote working policy in your company?

Now that you’re convinced to want to hire remote workers in your organization, you need to understand a few things before you define your working policy. Each individual works differently, so before you chalk out your do’s and don’ts, have a good chat with them. You can cover the below-mentioned points in your conversation and then on your legal document.

1. Frequency

While some of your employees may want permission to work remotely for the entire week, some might like to come to the office on a few days every week. You could leave it to them to decide their convenient time or define a time slot that works for you. Whatever the work may be, you must get time management issues out of the way before you move any further.

 

2. Model the policy

If you want your employees to work from home comfortably, do it yourself. Once they see everyone doing their job well from the comforts of their home, they are more likely to do so with better results.

 

3. Don’t seek explanations

If you’re giving them the flexibility to work from home, don’t devalue it by asking your employees to give you an explanation for it. There could be someone with a medical issue or with personal problems, small kids, ailing parents, etc that makes them want to work from home, but talking about it regularly with them can be a little stressful. Instill faith, build trust and strengthen your relationship with your team to reap benefits from your remote workers.

 

Top 10 companies in India that offer remote working

If you’re looking for remote jobs or want to understand how the best in the industry work with their teams not being in office, here’s a list for you to feel inspired.

  1. Symantec
  2. Dotdash
  3. Facebook
  4. VMware
  5. UnitedHealth Group
  6. Axelerant
  7. Xerox
  8. RiseSmart
  9. Intel
  10. SAP

To conclude, telecommuting, remote working or working from home is a tried and tested model of work that is currently widely practiced and is high on demand. It is effective, beneficial and a win-win situation for employees and employers.

 

Want to stay updated with the latest Stock Market, Financial, Mutual Funds news, information, videos, tips, and podcasts? Download our Koppr App and don’t miss any updates. Download Now!

How Do We Build a High-Performance Organization?

How Do We Build a High-Performance Organization?

A high-performance organization works on a specifically curated blueprint of their own success mapped out months in advance. They are focused. They are motivated. They are disciplined. Even to the point of being sentient enough to recognize not only the competitor’s worth and advantage in the market but identifying their own flaws and mistakes and working on them.

 

 

What is a high-performance organization?

A high-performance organization is one that operates with a tunnel vision focused only on its success. It is one wherein every individual is aware of what their specific job is, how it relates to their neighbors’ and the impact of their own contribution to the furthering of the organization’s agendas.

It is one that is consistently outperforming its competition. The mark of a high-performance organization is seen not only in its performance measures such as its sustained earning, social impact, and market share growth but is also visible in its management abilities, and employee motivation and coordination.

To put it in perspective, a high-performance organization is like that speeding boat whose rowers are in sync with each other. There is no confusion about the direction they’re taking.

There is a leader steering, focusing on what is ahead. There are the rowers, among whom every individual is performing their designated part correctly leading to a collective effort in moving up fast and swift.

The opposite of that is a non-high performance organization – where sync is an illusion and direction is social construct humans were fundamentally meant to sabotage.

To prevent such corporate disasters, and save the economy from utter ruination, a concept, known as the HPO Framework, has been developed.

 

What is the  High-Performance Organization (HPO) framework?

The high-performance organization framework is a scientifically validated structure proven to bring out the best results in an organization.

The HPO framework does not work like the tablet of 10 commandments set in stone that you need to follow word by word or undergo eternally, or in this case, commercial suffering.

The HPO Framework can enable an organization to decide what they need to focus on. What they need to improve. But will it dole out a step-by-step recipe with listed ingredients and exact measurements of quantities for each ingredient? No. Rather, the HPO framework is a concept. A set of guidelines.

It is upon every individual manager to perceive and enact the HPO framework as they see fit, designing it with their own inputs, insights, creativity, and experience according to the best needs of their respective companies to transform it into a sustainable, high-performance organization.

 

4 Core values for a high-performance organization (HPO)

While there is no set number of values an organization must have in order to be deemed a high-performance organization, there are certain values at large that are considered vital and are most abundantly found in such organizations. To briefly detail a few –

1. Dedication to excellence

A high-performance culture is one that fosters excellence in its employees. That is the distinction between an average company and an above-average one– their strive for excellence.

It is important for any high-performance organization to have a standard of excellence set for their organization. What after that though?

Is it enough to simply put in these expected standards of excellence on an orientation card in the attractive font? Or perhaps looming at the entrance or on the walls of your institution? Hardly.

One can only expect successful results when such standards of excellence are imbibed within the hierarchy, management, and minutest workings of the organization.

Beyond that, the employees as well should be given the prerogative, authority, and support to be able to work and innovate in ways that are keeping with and uphold the standards and values of the organization.

Otherwise, these standards become simply reduced to acting as wall décor and accessories.

When every member of an organization is committed to excellence, to an elite standard of work, only then can problems such as low output and productivity, disconnect, and disputes are reduced.

Besides eradicating such problems, they also serve to provide swift and effective solutions preventing the otherwise inevitable downhill slide into the pit of a crisis.

 

2. A clear objective and purpose

Having a clear picture in mind of what you want, and where you intend to take the company is an essential and core value for any high-performance organization.

Without a sense of purpose and direction, no pace or guiding light, it will be no surprise if the company finds itself hurtling off the rungs of the corporate ladder at breakneck speed.

If the organization itself has no idea where it is going the people on the inside and outside are not liable to know either. For a high-performance organization, a clear statement regarding the purpose of the existence of the company will go a long way in not only initiating and arming its employees with a mission but will also work as an incentive to attract exterior support, influence, funds, and resources.

 

Here are a few more strategies on how to build an everlasting company culture 

 

3. Ability and readiness to adapt and change

For a high-performance organization to surpass their competitors and/or maintain the status quo it is highly important for them to be able to adapt to changing times and successfully change or add to their ways in a manner that is effective and productive.

Being stubbornly set in the old ways in the name of tradition can predictably cause more harm than benefit; especially in today’s fast-evolving times.

Not only should they be open to taking such a step but also be able to anticipate the ways in which the changes will affect the organization and the hindrances they are likely to face.

Another important aspect is for them to make appropriate allocation of responsibility of heading and management of these changes to the best-suited candidates. It would also be proactive to be able to express and explain clearly the reason for the changes.

 

4. Developing a culture of continuous learning

An organization that is self-complacent will forever remain stagnant. There will be no moving forward. Or growth. For anything to grow it requires an input of materials. For something to go in and then manifest in the form of growth.

If there’s no input happening, that too will show. Eventually, a stagnant organization is likely to, much sooner rather than later, run dry and join history. People who constantly seek knowledge, and have a thirst for learning, such people are continuously rebuilding themselves.

Reforming themselves according to new data presented. Getting with the times. Adapting. Such people, belonging to the elite band of a high-performance culture, tend to view meetings with community and staff, and performance evaluation sessions as an opportunity to learn, grow and develop as opposed to the view of them being tedious and a waste of time.

They embrace and actively seek tools and opportunities to learn such as online training classes, reading, seminars, web-based seminars, and all the means made easily available by technology.

They acquire skills to become more effective in their jobs, get promotions and develop their skills. They learn new things and share that knowledge to promote a collective advancement of the organization and its employees.

 

6 Strategies to Build a High-Performance Organization

A high-performance organization/culture is a set of conduct, standards, and norms that lead an organization to become a better, constantly advancing version of itself that achieves superior results. A few of the factors of building such a culture in any organization are as follows:

1. Elucidate values, reinstate their importance

In the creation of a high-performance culture, the values you choose to imbibe play a vital role. Making your values clear, and communicating them on a daily basis will help increase the motivation of the employees and offer them clarity on what expectations their job entails.

In the culture of high-performance organization values can act as the driving force of the general behavior of the organization and define the company as a whole while also contributing to the overall success of the company.

 

2. Encourage positive behavior and mindset

The most worthy leaders of all ages, especially in today’s modern era of mutual benefits and stressed importance of acknowledgment, are those who can find it within themselves to be sentient.

To be rewarding. And to be approachable. In the purview of that, a leader in any high-performance organization should reward his employees for a job well done, or at least, for one exceptionally well done.

Whether it be individuals who diligently uphold the values of the company or those who display that extra spark of creativity and interest in their work instead of a monotonous approach.

Not only will this aid in boosting their morale and encouraging them to continue to do so, but also simultaneously provide incentives for other employees to follow suit.

Overcoming negative thoughts and developing a positive and confident attitude will help add value to the company. The employees of a given organization shoulder a large chunk of the responsibility of its success; constant reinforcement of a positive and motivating environment among them will go a long way in contributing to the success of the company.

 

Read more on what is employee engagement and how you can engage your employees.

 

3. Open line of communication

Nobody likes to be stonewalled. Nor a hoity-toity unapproachable snob. Working for one is certainly out the window. In the unfortunate event of discovering oneself in such a situation, one is likely to revert to Grade 3 behavior of dislike and disdain.

If not in front of the object of disdain, then most definitely behind their back. Like Aristotle of the modern times would have said, grade 3 behavior of dislike and disdain does not a high-performance culture make. Quite the opposite, in fact, if you give it any thought at all.

To avoid such an occurrence, employees should be granted the right and freedom to an unbiased and open line of communication. Superiors should strive to make themselves available in matters of hearing and addressing concerns.

In the efforts to avoid a bad case of corporate Chinese Whispers, the flow of information between the levels of hierarchy should not be made tedious and unwelcoming.

One of the characteristics of a high-performance organization is that it requires an atmosphere of good communication to function at its best and most optimum.

 

4. Empowerment of the employees

While a leader is trusted to make the best, most profitable decisions with the organization and the employees in mind, a good leader must also work towards empowering his/her employees and encouraging their growth – providing any means of training whenever necessary.

The employees should be afforded a show of trust, and freedom. To further the spirit of trust and communication, leaders should be open to small talk with their employees.

 

5. Obtain feedback

Maintaining a culture of feedback is necessary for a positive environment and a successful high-performance organization. A feedback-rich culture will provide insightful data on the general psyche of the employees and their opinions and views on the work culture and environment. The leader should take efforts to make the necessary improvements as per the feedback gathered.

 

6. Focus on the right incentives

While perks and monetary incentives are great motivators, in order to maintain an optimum environment for a high-performance organization, employees should be offered supportive leadership, a bias-free treatment barring favoritism, room for growth, transparency in communication and feedback, a sense of purpose and importance as well as appreciation whenever required.

Want to stay updated with the latest Stock Market, Financial, Mutual Funds news, information, videos, tips, and podcasts? Download our Koppr App and don’t miss any updates. Download Now!