Published On: 2017-12-19

19 December, 2017, Noida: Salary is no longer the glue that binds employees with their employers or workplaces! The ground rule of the new-age work world is more than salary, it is the overall benefit, which keeps modern-age employees interested in their workplaces for long. This, and many facts related to workplaces were determined at the TimesJobs Compensation and Benefits Conclave 2017, held in Noida recently.

The daylong event witnessed more than 300 C&B and HR leaders. Discussions revolved around, relevance of salary v/s benefits, evolution of benefits and other HR practices prevalent at the Indian work floors. The conclave saw companies like Mercer highlight, their devised benefits plan with individual preferences in mind, as specific as forming LGTBQ+ communities for staffers among others. This sounds peculiar, but with millennials on the work floor, policies like leave exchange among employees or having nap rooms are also being considered seriously.

Inaugurating the conclave, Ramathreya Krishnamurthi, Business Head, TimesJobs & TechGig said, “Happy employees make a happy workplace. Being thought leaders in the Indian HR space, we at TimesJobs wanted to probe the most critical question for today’s time –‘what brings people to work and keeps them at work for long?’ Hence we envisaged a great debate in the Indian HR fraternity and this conclave was conceived. With the discussion here, we wish to establish facts of today’s work world.”

Taking the cue of employee behaviour at workfloors further, Sanjay Goyal, Vice President at Times Internet, Head of Product, Technology & Marketing at TimesJobs added that employee conversations and opinions act like a magnet to retain talent. Sanjay said, “Today employees don’t work in silos and are affected by what is spoken about them, their company or industry at large. Employers need to keep a keen eye on that aspect too, since it attract or distracts relevant talent. We are delighted to present latest industry thoughts and reactions at this conclave.”

Held at Radisson Blu, Noida, the conclave hosted four panel discussions involving HR stalwarts dissecting Compensation & Benefits policies and trends. The panel discussions were focussed as:

Panel 1: New-age employee benefits: Aligning organizational strategy with new innovative benefit strategy

Panel 2: Rethinking Compensation & Benefits: New approaches to combine benefits in the overall talent strategy

Panel 3: Can benefits really be a differentiator: Challenges in the conventional wisdom of benefits in driving performance and retention

Panel 4: Evolving role of benefits in enabling organisation culture: Using internal and external experts

Most organisations had fielded their Compensation & Benefits leaders for the discussion, making it a fruitful conversation for the panellists and the audience alike. Gaurav Bal, Compensation & Benefits Leader, GE present in the first panel said, “Work flexibility and employee wellness are the most popular benefits among the millennials. Platforms like this conclave gives us an opportunity to network and probably come up with a solution in an aligned manner.”

Poonam Chopra, Associate Director - Total Rewards, PepsiCo, a participant in fourth panel noted, “Including career enhancement as a benefits plan can be seen as one of the major attraction for employees. It not helps in retaining the best resource but also helps us hire better resources. Insurance and health benefits are the important factors that employees seek. Additionally, perks related to work-life balance also plays an important role for the new age employees”.

Anand Shukla, Regional Head Sales North, Pine Perks said, “Great companies are those who make their employees feel important about themselves. It was desired and nice to have initiated this dialogue at the conclave. The panel discussions were thoroughly insightful, shall help us innovate our products according to the trends of the current compensation and benefits space”.

The conclave also gave the participants an opportunity to network and interact with HR peers and learn from shared experiences. Ayush Arora, Account Manager, Xoxoday said, “It was a well-organised event with insightful experience about the latest trends, products and networking. It is a perfect place to understand people’s requirement with sufficient ability of fulfilment of their needs.”

Suvodeep Das, VP-Marketing, Sodexo said, “It’s a platform that brings in lots of senior HR people under one roof to plan, innovative employee benefits for their employees. In addition to fresh perspectives on trends in Employee benefits & Rewards programmes, it also gives an opportunity for one on one interactions and networking with current & potential clients.”

The TimesJobs Compensation & Benefits Conclave 2017 brought many fruitful discussions into limelight. The interactive sessions on employee retention and career growth, were eye-openers for many industry leaders and HR managers. Stay tuned for the next editions of the conclave.

About TimesJobs:

TimesJobs is a platform to help competent professionals enhance their career growth. With over 25 million registered jobseekers across the board and more than 60 million page views every month, it is the most preferred career portal among ambitious and talented professionals who want to make smarter career decisions that accelerate their career progression. 

TimesJobs is leading in the recruitment and employment space with its pioneering and dynamic divisions because it successfully meets all the needs of the jobseekers. Its major platforms include:

About TechGig:

· TechGig: India’s biggest dais for tech professionals to help them Learn, Showcase & Compete in the IT industry.

· JobBuzz: A well-known portal that provides information & insights about different companies, job profiles and interview processes. 

· StepAhead: StepAhead offers Professional Resume writing and distribution services, career astrology, and resume improvement to help jobseekers accelerate their career.

Also, TimesJobs has the largest collection of jobs in the market, which ensures that whenever and wherever there is a great opportunity, jobseekers will discover it on the platform.

In the recruitment market as well, being the biggest platform for competent professionals who think of their careers first, TimesJobs has become the destination of choice for recruiters who seek to engage with the right talent.