Reward your employees with vacation days to create more relaxation time, reduce work pressure for employees. Help them have more relaxation time to continue working better. The vacation bonus policy can be built as follows:
Table 3.3: Holiday bonus policy for employees
STT
Labor performance | Awareness of compliance with regulations | Quarterly vacation bonus (day) | |
1 | Complete monthly target | Good | 1 |
2 | Complete monthly target | Not good | 0 |
3 | Exceeded monthly target | Good | 2 |
4 | Exceeded monthly target | Not good | 0 |
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- Accordingly, employees who complete monthly work targets and fully comply with all Company regulations will be awarded 1 day off per month.
- Employees who exceed work targets and fully comply with company regulations will be awarded 2 days off per month.
If an employee is awarded a day off during the month but cannot arrange the time off, it can be transferred to the following month, or the Company will pay the employee in cash equivalent to the employee's working day salary.
b. Perfecting employee welfare policies
In addition to current welfare policies such as: periodic health check-ups, insurance for employees, organizing annual trips for employees... the company should develop some other welfare policies for employees. Specifically:
+ Establish a scholarship fund
“ The company should set aside a small portion of the welfare fund to establish a scholarship fund for children of employees with high academic achievements.
Or at the beginning of the year, the Company organizes meetings, rewards, encouragement, presents gifts, bonuses to the children, in addition, on the occasion of Mid-Autumn Festival, Children's Day... The Company should organize gifts or organize for the children to go out, go sightseeing with their parents. Although this does not directly affect the employees, it indirectly affects the children, where their parents put a lot of trust, love and hope. When their children are cared for and looked after by the Company, the employees who are parents will feel proud of their colleagues and everyone around them. That is a great source of encouragement to help them work enthusiastically, actively and stick with the Company.
+ Establish a hardship assistance fund
Currently, the Company does not have a hardship fund to help employees in extremely difficult circumstances. In these cases, the Union annually allocates a sum of money from the Union fund to visit the families. This shows the concern of the Union in particular and the Company in general for employees, but it has not really helped much for those who are really in difficulty. Therefore, the Union and the Company's Board of Directors should allocate a portion of the annual profit to establish a hardship fund to support employees in extremely difficult living circumstances when their income is not enough to cover their family's living expenses .
c. Perfect other financial incentive policies
+ Develop housing support policies for human resources
This policy is aimed at employees who have good performance at work, but are in difficult circumstances. It can be said that in the current structure of living expenses, housing costs are one of the major expenses that directly affect the lives of employees. The majority of employees in the Company still have to rent houses. Therefore, the housing support policy for employees in the Company is very necessary. Accordingly, employees in difficult circumstances
In difficult times, the income is not enough to cover family life, the Company can invest in building housing for employees to support and improve their living conditions. Housing support is like having an additional income to cover their living expenses, through which employees can feel their living standards have improved significantly, thereby, they have more motivation to complete their work and stick with the business.
*) Conditions for implementing the solution:
- The Company's financial resources must be guaranteed.
3.3.3. Solutions to improve non-financial compensation policies
*) Target
Strengthen and improve financial compensation policies for more completeness.
*) Solution content
a. Perfecting human resource evaluation methods
The Company's human resource evaluation method has been built quite effectively and towards the quality of work, however, evaluating too many criteria while there is no weight and scale for each criterion makes the evaluation table lose its effectiveness. Therefore, the Company's human resource evaluation table needs to be supplemented with:
+ Scoring scale for each evaluation criterion
+ Evaluation weight of each criterion
Build a human resource evaluation table that focuses on work efficiency and reduces administrative aspects of evaluation.
b. Publicize the criteria for career advancement
The company should provide a corresponding promotion roadmap for each job position in the company. Specifically, the sales staff position has the following promotion roadmap:
Sales Manager
Business Team Leader
Sales staff
Corresponding to other positions such as: Human Resources Department, Finance and Accounting Department, General Planning Department... The Company should provide a specific promotion roadmap for each position and corresponding to each promotion level, the Company will provide clear requirements and conditions so that each employee has a goal to strive for.
Publicizing promotion standards not only helps employees in the Company have goals and motivation to strive, but also helps the Company be transparent in the process of promoting capable personnel.
c. Regularly organize union activities in the Company
+ Cultural and sports group activities have a significant impact on the spirit and working ability of human resources. Most individuals in the Company are interested in participating in group activities organized by the Company, however the number of these activities is still small.
In addition, the Company can also apply family-based participation forms such as: organizing badminton and table tennis tournaments for families, with participating teams being employees in the Company and their family members. This activity has the effect of supplementing and encouraging communication between members in the Company, helping them understand each other better, increasing solidarity within the Company.
+ To have a better working environment, individuals in the Company can support each other more, the Company's leadership should focus on improving the
solidarity in the Company by regularly organizing parties, picnics, cultural and sports activities to help members of the Company both entertain and relax after stressful working hours and have an environment for them to interact and communicate with each other to narrow the gap between people, creating close connections between members of the Company.
d. Improve the relationship between superiors and subordinates
The relationship between leaders and direct subordinates is very important and has a profound impact on the success of the Company. Leaders in the Company in particular and in the whole Company in general have realized that the more leaders care deeply about their employees, the greater the reward for them personally. Sometimes, money is not as important as being noticed and cared for by leaders. In the Company, leaders at all levels have made great efforts to care for and motivate the Company's human resources, however, this level of care still needs to be improved further to be able to stimulate the working ability of employees. Therefore, leaders in the Company should pay attention to the following issues:
+ Clearly explain your goals to your employees, they will always feel comfortable and happy knowing they are working for a talented leader.
+ Support employees and encourage them when they need it
When a leader supports someone, it means that they are showing that person that the leader is interested in his career development and sees a bright future ahead of that person. This will be a great source of encouragement for the person.
Ordinary employees also need to be motivated and encouraged by their leaders to become excellent employees. Leaders need to know
motivate employees and inspire them to excel and become great employees.
+ Record employee achievements in a timely manner
When employees strive and make progress in their work, the company's leaders should also evaluate and encourage their achievements in company meetings. This makes employees understand that managers always care and monitor them, making them feel that they play a more important role in the company and will strive to work better and make more progress.
In addition to monetary rewards, the Company should allocate a portion of the cost to make certificates of merit to recognize the contributions of individuals and groups, or small souvenirs such as airplane models, office suits, etc. This is both practical and has a positive impact on the psychology of employees.
+ Be cheerful and sociable with your employees
Instead of just giving orders to employees, leaders should listen to the opinions and contributions of employees, which creates respect for the employees towards the leader. At the same time, in the company's collective activities, get along with all employees, eliminating the gap between leaders in work. Such leaders always receive the support of employees and create good relationships with them.
+ Every employee when receiving attention, encouragement and motivation from their superiors feels respected and motivated to work. Therefore, leaders in the Company should try to care for and encourage employees more. Encourage and reward them when they complete their assigned tasks well and instruct them when they find it difficult to work. In addition, leaders should also care for and encourage employees with difficult family circumstances, especially when they need help.
+ In the Company there are many employees, managers should try to remember the names and especially the achievements of capable individuals. With that attention, employees will feel respected by their leaders and will try to work better.
e. Arrange working time more reasonably
In addition to work pressure, time pressure also creates a burden on human resources in the Company, affecting work efficiency. Therefore, reducing time pressure is one of the good solutions to help increase work efficiency. A flexible working time policy will create more time for employees, through which they can proactively arrange their time to rest or handle family matters. A flexible time policy can be built as follows:
+ Share work
Depending on the characteristics of the departments in the Company, organize and assign tasks to groups of 2-3 people. If any individual in the group has an urgent matter that requires time off, the other individuals will help and support, ensuring the completion of the work goal. If using this method, it is necessary to ensure that the work, roles and responsibilities of the implementing staff must be coordinated to achieve optimal work productivity. The groups of employees must be truly responsible for their work and must have a high spirit of solidarity.
+ Flexible in time but still ensures efficiency
The company can establish a policy that allows indirect employees to work at different times, meaning that they will come to work either earlier or later than others. For example, instead of working from 8:30 to 17:30, they can work from 7:30 to 16:30, or from 10:00 to 19:00. This policy can ensure both administrative hours and work results.
f. Building a corporate culture that unites members
To build a corporate culture associated with compensation policy
+ All employees in the Company must be considered as members of the same family. They must have the right to freely participate and contribute opinions on the Company's welfare policies. Business leaders must pay attention to understanding the thoughts and aspirations of employees. The Company's Board of Directors and employees can meet to exchange opinions on the Company's policies every month. From there, the Company's Board of Directors can grasp the thoughts and aspirations of employees to make changes in welfare policies to better meet the needs of employees.
+ Improve the organization of collective activities in the Company. In addition to common activities, the Company's Board of Directors should proactively improve the organization of common collective activities in the Company on culture such as: solo singing contest, duet singing contest imitating the TV show The Voice, Perfect Couple... Teamwork competition activities... create a vibrant and joyful atmosphere for the Company's staff.
*) Implementation conditions
- The company needs to have weights and scores for each evaluation criterion.
3.4. Recommendations
3.4.1 Recommendations to the Company's Board of Directors
To properly implement the State's regulations on employee benefits, the Company needs to regularly update information, regulations, and legal documents of the State on financial benefits: Regulations on minimum wages, total salary fund, social insurance, health insurance... in the Company. Regularly supplement, amend, and perfect the regulations on financial benefits in the Company to comply with State regulations and the actual living needs of employees in the Company. Employee status