By embracing emerging trends, addressing challenges, and prioritizing the well-being and engagement of their workforce, organisations can create a competitive advantage in today's dynamic business environment.
ARTICLES
The increased contribution shall be applicable to basic wages, dearness allowance and retaining allowance exceed fifteen thousand rupees per month.
Engaging contract labour in areas directly linked to production and manufacturing poses potential legal ambiguities. In such cases, there is a risk of claims for permanency rights or demand for equal wages. This not only raises legal concerns but also has the potential to disrupt industrial harmony.
Innovative approaches to Compliance management are imperative to meet the evolving needs of businesses in India.
Business environment, Technology, workforce demographics, and outlook towards life of the employees have changed and are distinctly different than what they used to be 10 years back. Most appraisal systems if not completely irrelevant surely need a much-needed change.
As long as the PMS system is constantly reviewed and tweaked to meet these objectives, it will continue to provide good value to organizations. Otherwise, it can become a tick-in-the-box and a burden for managers and employees.
The future of performance management in organizations is poised for significant transformation, driven by advancements in technology and evolving workplace dynamics.
Linking performance goals to career development opportunities demonstrates the value of the PMS to employees.
As metrics and measurements drive business decisions, people analytics provide insights to leaders. It helps in responding to shortfalls timely and similarly allows you to celebrate success pointers.
December 2024
