Following are some suggested HR policies:
- SAFE, HEALTHY & HAPPY WORKPLACE - It is a no brainer that you company environment environment should be safe and healthy in order for employees to work and really execute their skill which is directly proportional to the company's success.
- PERFORMANCE LINKED BONUSES - Bonuses distributed in your company should directly show the performance of an employee if the case is different then it can be a problem in the macro.
- PERFORMANCE FEEDBACK SYSTEM - If you are using performance based bonuses your feedback mechanism better be good, because if your feedback mechanism is broken or not efficient then you giving bonuses to wrong people, which is daunting.
- FAIR EVALUATION SYSTEM - To make your feedback mechanism strong you need to decide a Fair Evaluation scheme which is transparent and encourage your employees to work and get bonuses based on their performance.
- HIGHLIGHT PERFORMERS - Bonuses will do the trick but there is another aspect retaining employees which is Appreciation. We need to appreciate your employees. Many companies use this like Dominos show their Employee of the month, Similarly come up with some ideas and use some of them to Appreciate your employees it costs nothing.
- DELIGHT EMPLOYEES WITH UNEXPECTED - Everybody like surprises, if the surprises are good enough your employees will feel good about working in the company and this will lift up the mood of the whole work area.