Akanksha Jain

Abstract

It has been two years into the Covid-19 era, the world as we know has changed drastically, stumbling into survival mode as it tries to adjust to the new realities. People are learning to cope with rapid changes that can be disruptive and confusing. They are constantly faced by health scares, financial pressures and domestic challenges. The companies have been crushed by instability and workers are in stressful condition, in such a situation, it becomes the prerogative of HR professionals to step up and keep everything in perspective and aligned. As a result, Human Resources (HR) has become one of the most critical functions of any enterprise in these extraordinary times. This paper intends to highlight the challenges faced by companies and solutions for the same. Purpose of Study: This conceptual paper is an attempt at deliberating on how COVID-19 has changed the work-culture landscape. What drastic change it has bought for the HR professionals and what needs to be recognized and adapted to in this new normal. The objective is to understand the hitches and challenges that has come with this new arrangement and lay down some solutions that can bring back the old growth regime. Materials and Methods: This is a descriptive study based on information gathered from many HR professionals across industries. In-depth interviews of various stakeholders from a representative range of Indian organizations were conducted and some of the key human-resource related issues and challenges that have come up during the Covid times were identified and enumerated in this paper. Findings: With Covid still very much prevalent but the economies slowly opening up, it is not possible to continue with traditional systems, processes and strategies that the HR professional were using in the pre-covid era. New measures, methods and stratagems need to be laid down to bring people back to work. There is a need to create new policies to re-allign and re-connect the individual goals with organizational goal to bring about a similar level of growth. Thus further accentuating the need for navigating and adapting around the ‘new normal’. Keywords: Covid­19, Disruptive, "New Normal", HR professionals, Challenges, Solutions

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Abstract

Human capital is the most crucial resource on which the BPO industry in India depends. However, it is plagued by this never ending problem of employee attrition. Whenever a well-trained and well-adapted employee leaves the organization, it creates a vacuity. The organization loses a skilled, trained, and essential resource. Consistent employee attrition not only leads to an increase in tangible cost but also includes an intangible or “hidden” cost associated with it. Purpose: This study intends to study the impact of tangible factor like compensation and an intangible factor like opportunity for advancement on an employee’s intention to quit. Research Design: Employee intention to quit, employees satisfaction from compensation levels and opportunity for advancement were measured using 5-point Likert scale. Statistical techniques such as, correlation analysis, Principal component analysis, descriptive analysis etc were used for understanding the data and analysis. Results: A study of the statistical output reveals that both compensation and opportunity for advancement factors play a significant role in influencing an employee’s intention to quit. Although opportunity for advancement is a major factor which plays a more significant role than compensation. Keywords: Employee attrition, Compensation, Opportunity for advancement.

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