Partnering with an EOR

1. BestHRPracticesforbusiness growth Best HR practices play an important role in your business expansion plan. Making use of a good HR strategy will help in delivering quality business execution. A good HR practice is as relevant as the sales and marketing strategies of your company. Your employees are ultimately your biggest asset, and when you treat them well, they will reciprocate in a way that will takeyour business to the nextlevel. PartneringwithanEOR(EmployerofRecord)orPEO(Professional EmployerOrganization)inIndiawillbebeneficialforyouwhenhiring remoteteamsoranemployee.FortheEORwillco-partnerwiththe responsibilityofimplementingthebestHRpracticesfor your business growth.

2. EOR(EmployerofRecord)servicesinIndia,anallyforbestHR practices JoininghandswithanEmployerofRecordinIndiawilltakethe administrative load off your shoulders. They will become your on-paper employer for your resources. The EOR will look after HR-related employee activities,localcompliance,andpayroll.AgoodEORwillwork oncreating amutualunderstandingandmostimportantlyemploythebestHR practicesfor your business growth. BestHRPracticesforbusinessgrowth AdoptingthebestHRpracticesisimportantforyourbusiness.Itwill improveyourworkculture,andemployeesatisfaction,andpromote business growth. Here’s looking at why adopting healthy, employee-centric HRpractices is good foryour business growth. Herearesomeofthebestpracticesyoucanconsider: Anopen-doorpolicy Creatinganapproachableenvironmentisimportantforyouremployees. An open-door policy will encourage transparency in your business. It will giveyouremployeeseasyaccesstoseniormanagement.Itwillgivethem a platform to talk about their ideas and work-related issues. You can then offer themsolutions accordinglyby addressingtheir issuesrightfully. Also, implementing an open-door policy will not make your employees feel undervaluedand searchfor better jobprospects elsewhere. Emphasisoncreatingahappyworkplaceculture When you provide your employees with a comfortable work environment, it willboosttheirmoodandmorale.Buildingastrongorganizationalculture

3. will motivate them to come to work, instead of being forced to. You can make their life more convenient by providing them with free healthy meals, office transportation, and paid parental and child care leaves. This will lead tobetter employee preservation. Rewardingtheirperformancewithbonusesandotherperks Whenyourewardemployeesfortheirefforts withbonusesandother perks, it will make them feel appreciated. This will encourage them to stay inyour companyand ultimately enhanceemployee retention. The process of finding a replacement is as tedious in terms of cost, as putting in time and effort to find the right talent. A study conducted by the SocietyforHumanResourceManagementsuggestedthat asalaried employee’s (senior executive) replacement is equal to six months’ wages. This will impact your employee turnover financially, cause project delays andloss of productivity. Sharingresourcesandknowledge Whenyouremployeeswillworktogetheras acoherentteam,itwill encourage them to achieve a common business goal. You can implement strategies like maintaining a knowledge base data, and storing inputs and takeaways of employees. Especially after attending seminars, webinars, andskilldevelopmentprogramsare agreatwaytoasystematic knowledgepreservationapproach. Sharing their knowledge and insights willhelp your employeesto achieve a commongoal. Encouraginganeutralevaluationsystem Theapproachofgiving aneutralevaluationsystemwillgiveyour employeestheconfidencetocontinueputtingintheirbestefforts.All junior, mid, and senior-level executives should be evaluated fairly. They shouldbegivenappropriateandconstructivefeedbackaswell.Also, encouragingcross-functionalfeedbackwillgiveyouremployeesaninsight

4. into bettering their performances and identifying their strengths. Evaluating your employees on their performances and not connections will motivate themto give their best. Beingopentofeedbackfromall It creates a business in which your employees will feel invested. Employee feedbackisoneofthemostimportantdatasetsinyourcompanywhich canbedeterminedbyconductingemployeesatisfactionsurveys. Following this practice will ultimately help you gain trust and make your employeesfeel valued as well. Encouraginginnovationandnewideas This HR practice will promote a healthy work culture in your company that will encourage innovation and new ideas. When your employee feels they can contribute, and their suggestions are respected, it motivates them ever moreto deliver well.This is essentialfor your business growth. Discouragingseniorsfromfavoringtheirfavorites Youshould ensure there is no room for discrimination or favoritism. It will pitcolleaguesagainsteachotherandhamper team bonding. This will createatoxic workenvironment and affect businessgrowth ultimately. Onerulebooktorulethemall Youshouldensurethatyourcompanyfollowsonerulebookforall. Irrespective of the position or designation, following the same rulebook, is asimportantasadoptingbestHRpractices. Regardless of the position theyhold,everybody inyourcompany shouldbetreated equallyand fairly. Keytoahappierworkenvironment Thekeytocreating ahappyworkenvironmentistoencourageyour employees to be involved at work. You should motivate them to participate in different work activities and team-building exercises. You should also encouragethem to find solutionsto end conflicts.

5. Google, Zappos, Warby Parker, Chevron, Twitter, and Facebook are a few examples of companies that avoid micromanaging, prioritize employees’ well-beingand createa friendly workculture environment. Adopting the best HR practices will help your business deal with attrition, encourageemployee satisfaction and in turn improve work productivity. Aligning these HR practices with your organization’s business strategy will ensureefficiency.A good HR strategy will make your employee’s lifecycle afulfilling one. Remunance,yourco-partnerforimplementingthebestHRpractices Our mission at Remunance, as an EOR service, is to offer you the best of bothworlds.Our intention is to create a winning team culture for your foreigncompanythroughanidealselectionprocess.OurteamofHR professionalswillfindtherightfitwhowillcontribute to your business growth.Wefollow astructuredrecruitmentprocesstoimprovehiring efficiency. We will shoulder your employee responsibilities as we have an in-depth knowledge of the trends in employee and HR policies in India. We ensure everyemployee alignswith your company’s objectives and policies. OurEORserviceswillhandleHRsupport,employeetraining,and recruitment.Ourexpertteamofaccounting,HR,andlegalprofessionals will handle employee taxation, employee benefits and salary processing. We have a fully transparent and self-servicing employee portal. We know the Indian pulse well and will tailor the best HR practices for your foreign businesscompany.