BEST HR PRACTICE FOR RETAINING TALENTS-ENJAY IT SOLUTIONS
Limesh Parekh, CEO, Enjay IT Solutions, shares his employee-friendly HR practices that are enabling his company to retain talent
“Our HR practices are extremely employee-friendly”
We have devised several measures to ensure high retention of employees, which starts from recruitment to employee empowerment. We make it a point to recruit local talent. There are about seven engineering and management colleges in and around Vapi where we career development workshops and drives for the benefit of student community. We also encourage students for internships and projects and do not ask for bonds on recruitment. We give a lot of importance to employee training and certification; it is hence a win-win situation for all.
There are several reasons that an Enjay employee would continue working with us. Starting from compensation to giving them equity, our HR practices are extremely employee-friendly. We offer 30-50 percent higher salaries than the market standards and also offer them equity in the organization. For instance, an entry-level employee who joined us at monthly compensation of just Rs 2500 is now leading a team for entire product category, and withdrawing salary of Rs 1,25,000 per month and is also a shareholder in company; there are lot of such examples.
We offer equity to employees who stay with us for five years or more. In fact, we have decided that we will distribute nearly 10 percent of the total equity among our employees over the next 2-3 years.
We have also developed a unique Saturday review meetings where we self-evaluate reports, feedbacks, peer reviews and offer appreciations, all in 30 minutes. This method of self-evaluation encourages employees to share the best and the worst of the week. While it makes the whole team understand what happens within the company, it also allows them to resolve issues on their own. We also give them awards based on the weekly evaluation.
Another important reason for employee retention is our liberal HR policy. A lot of freedom and leadership opportunities are provided. We believe that to perform we need to love what we do and for that the job has to be challenging, exciting and rewarding.
With all this in place, the only reason for our employees to leave us has been their relocation.
Quote: “We offer equity shares to employees who stay with us for five years or more. We will distribute 10 percent of the total equity among employees over the next 2-3 years”
Limesh Parekh, CEO, Enjay IT Solutions