NEW DELHI: As FMCG companies reel under inflationary and rising input costs pressures, homegrown major Dabur is turning to its employees to improve productivity and cost saving by rewarding them for their engagements in decision making.
Under a programme 'Applause' Dabur is recognising [COLOR=blue! important][COLOR=blue! important]employees[/COLOR][/COLOR]
in different categories, including the trailblazer employee, the best newcomer, best suggestion for their actions which are innovative, save cost, promote team spirit, institute new initiative and raise standards of performance.
"Instead of rewarding people on annual basis, we have devised a mechanism for instant gratification, thereby we would recognise our employees' performance and [COLOR=blue! important][COLOR=blue! important]reward[/COLOR][/COLOR]
them instantly," Dabur India Executive Director (Human Resource) A Sudhakar said.
It is a step towards continuous motivation of employees, which is aimed at increasing employee engagement level from 67 per cent to 72 per cent, he added.
Besides, Dabur is looking at its employees as assets that can help withstand the overall testing times in the industry.
"Cutting the headcount is no solution to control inflation, rather it is counter productive. One should [COLOR=blue! important][COLOR=blue! important]invest [COLOR=blue! important]money[/COLOR][/COLOR][/COLOR]
in training and retaining the employees, invest in technology, which would in turn make them productive for the company," Sudhakar added.
The company has earmarked a budget of Rs 50 lakh for the employee reward programme.
Besides the regular annual increments and ESOPS, Dabur is giving on the spot awards for demonstration of actions which are innovative, save cost, promotes team spirit, institute new initiatives and raise standards of performance.
The rewards include LCD TV, iPod, music [COLOR=blue! important][COLOR=blue! important]system[/COLOR][/COLOR]
as well as BlackBerry handsets besides a citation.
Explaining the rationale behind the programme, Sudhakar said: "The company's growth is at 18 per cent. It is nothing but the performance of its employees. Recognising employees' work instantly would benefit the company ultimately."
Dabur had rejigged its ESOPS, variable pay plan 3-4 years ago for the benefit of its employees, he informed, adding an employee can now have 150 per cent in the variable pay plan.
At present Dabur has 2,600 employees in India and 600 stationed abroad. 23rd June 2008 From India, Mumbai