Talent Management


Pay is not the central issue for attracting and retaining employees. People rarely leave a job for money alone. Instead, they leave for career advancement, technical or career challenge, communication reasons, job security.

Managing Talent is done by establishing an agile compensation and benefits system that track costs, helps ensure pay equity, is understood by employees, and keeps in touch with employee desires and what's popular in the market

Talent Management can be divided into 3 broad sections:

COMPENSATION & BENEFITS

Due to the increased demand for organisational competencies and capabilities, the need for accurate and comprehensive information on the Compensation and Benefits trends has become more imperative now than ever before. The following are the various Compensation & Benefits services we offer

Compensation & Benefits(C&B) Survey is one of the core competencies of Lighthouse. We at Lighthouse offer the Compensation and Benefits data, salary ranges and percentiles of the salary ranges in comparison to the comparator companies. We have expertise in conducting C&B Survey in a number of sectors, including IT, ITES, Construction, Retail, Pharmaceutical, and Manufacturing etc. We provide assistance to the companies in migration of the salaries after the survey results are announced.

Finding the worth of a job is not only a critical task but also a foundation to ascertaining the compensation and the performance measures for a position. Hence it calls for assessing the job on comprehensive and pertinent factors; Lighthouse Job Evaluation tool has 17 factors with each of them scaled to broad ranges. The degrees for each factor are an average of 6 which allows the Job evaluator to articulate carefully and accurately while defining the position and arriving at the score. The degrees are defined to suit the varied functions and the levels that exist in most of the industries.
Lighthouse offers to its clients The Lighthouse Wizard, the on-line system which can assist HR departments to manage and evaluate more than 150 positions across business units spread across countries. Furthermore, the tool allows designing of grades and pay ranges. The commands and navigation are apt to run several compensation structure scenarios and arrive at suitable ones.

Grading being a vital component in the compensation structure requires a balance of time tested principles and innovative steps to design it. Lighthouse team holds in total over more than 100 years experience in designing grades and supported by most up-to-date data from the market survey it conducts continuously across several industries.
We carry out the following broad steps to arrive at the grade structure:

  • Assess overall job evaluation point’s differential
  • Develop job groupings based on key principles break points
  • Finalise the grades based on the sanctity
  • Develop pay bands aligned to the grades

With the ever changing business scenario the demand for skills varies too, invariably necessitating a different set of costs to procure the talent. In other words salary and components benefits structure have to continually evolve to attract and retain the talent. Lighthouse builds and can rebuild the compensation structure encompassing estimations and designing the basic pay components to allowances to long term/short term incentives to prerequisites. The configuration of such components has to abide to the regulations, meet the budget guidelines and most importantly motivate the people. Lighthouse has established and restructured several of the compensations structure and arrived at configuration that has helped clients to witness positive results and impact on the organisation. In the process has developed robust principles, guidelines and process to arrive at the same.

Migrating employees and positions to fit new grade structures come with its own complexities. Challenges from criterias/principles to move from old to the new structure, to past performance of the employees to cost containment to addressing issues of the perceived loss or gain by the employees are just a few to mention. Lighthouse, with its ability to successfully customise fitment principles and policies and ownership of the initiatives till the last employee is migrated, allows our client to tide through the complexities with limited strain. At Lighthouse we conduct migration in the following way

  • Develop employee migration / fitment principles
  • Carry out Scenario analysis for a sample of employees
  • Produce test reports
  • Review principles and re-align with scenario cases
  • Develop compensation administration policy
  • Present the policy to HR team
  • Carry out fitment and communication to employees

PERFORMANCE MANAGEMENT

The ever changing face of the business environment dictates the necessity in having newer and innovative ways in managing the business effectively and efficiently. The employee which constitutes one of the key stakeholders is the core through which this management can be Channelised. Greater the performance of the employees, greater the performance of the organisation. Performance management is the process of creating a work environment or setting in which people are enabled to perform to the best of their abilities. Performance management is a whole work system that begins when a job is defined as needed. It ends when an employee leaves your organisation. The Lighthouse consultants brings in ample and most importantly superior experience from the world class companies where we have used our skills and expertise in making them the company of choice focussing on the following areas:

The Lighthouse consultants will gain an in-depth understanding of the nature of the company’s business and in particular the current HR practices adopted in the company. This will provide the base from which the organisational, functional and individual goals can be derived focussing on the following main features.

  • SWOT Analysis
  • Stakeholder and Organisation Review
  • Senior Management Workshops
  • Critical Success Factors Identification
  • Value Chain Analysis

Once goals are set, it is it is important to cascade them down to every individual in the organisation thereby giving every individual an accontability towards the sucess of the company and the indiviual himself/herself. It also ensures that everybody within the organisation has a clear understanding of the aims and objectives of the organisation, as well as awareness of their own roles and responsibilities in achieving them.
The Lighthouse goes one step further by conducting a benchmarking exercise to conduct external search to understand how other companies have designed their performance appraisal system and provides validity of whether the chosen metrics / KPI’s are the right ones or whether they should be changed thereby ensuring the best SMARTER objectives.

Organisations are naturally complex systems that require a procedure to track, monitor, evaluate and reward the performance of every individual in the company. One such system is the Performance Appraisal System which provides a standardised and measurable means to track, monitor, evaluate and reward performance within the organisation. However, there are numerous ways in which the performance of an individual can be measured and each method should be applied to an organisation only after a proper diagnostic has been performed to ensure the best fit between the system and the organisation The Lighthouse is equipped with the best know how of performance appraisal systems. Our consultants have successfully implemented Balance Score card programs, Management by Objectives systems, and Hybrid systems in companies in India, Oman and Maldives. With years of expertise and experience on our side we assure the best company-PAS fit lighting the way forward for your company.

The Performance Appraisal system can be effectively linked to the reward system in the company. Greater the performance, greater the rewards thereby ensuring employees are motivated in their jobs translating into a high performing department resulting in an overall high performance organisation.
The Lighthouse provides the best in class services in designing the reward system to align with the pay structure of the company thereby encouraging the creation of a high performance organisation.

As our mission is to simplify business, the Lighthouse consultants believe that strategic planners need to have a crisp and clear way of communicating strategy. With balanced scorecards, strategy reaches everyone in a language that makes sense. When strategy is expressed in terms of measurements and targets, the employee can relate to what must happen. This leads to much better execution of strategy.
Not only does the Balanced Scorecard transform how the strategic plan is expressed, but it also pulls everything together. This is the so-called “cause and effect” relationship or linking of all elements together. For example, if you want strong financial results, you must have great customer service. If you want great customer service, you must have excellent processes in place (such as Customer Relations Management). If you want great processes, you must have the right people, knowledge, and systems (intellectual capital).
Balanced Scorecards provide the framework around which an organisation changes through the execution of its strategy. This is accomplished by linking everything together. This is what makes the Balanced Scorecard so different; it captures the cause and effect relationship throughout every part of the organisation. Strategy now has a clear path for everyone in the organisation.

DIAGNOSTICS

The following are the various HR diagnostics programs that we provide to our clients in order to achieve outstanding results in the areas of Employee commitment, Productivity improvement, Smooth functioning of the processes, Effective Resource integration resulting in overall management development. The following are the various Diagnostics services we offer

Employee Satisfaction Surveys are conducted with the intention of knowing the level of employee satisfaction in the company. Employee satisfaction surveys help employers measure and understand their employees' attitude, opinions, motivation, and satisfaction. We at Lighthouse have an extensive experience in conducting Employee Satisfaction Surveys across sectors in many companies, in many countries such as India, Oman, Maldives.
We at Lighthouse conduct the Employee Satisfaction Surveys with the following methodology: Planning

  • Meeting with top management
  • Questionnaire development
  • Survey promotions
  • Logistics and administration plan
Implementation
  • Distribution of questionnaires across locations
  • Orientation about the Survey
  • Reminders and Collection of the questionnaire
Summation
  • Compilation of the data
  • Level wise analysis
  • Draft analysis and findings
  • Review and final analysis
  • Report and recommendation

The Organisational Readiness Assessment (ORA) analyses the organisation's environment and readiness to adopt and support an organisational management methodology. We at Lighthouse while doing an Organisational Readiness Survey use the basic parameters like:

  • Business Impetus
  • Information Flow
  • Customer Focus
  • Decision Making
  • Leadership
  • Organisational Bureaucracy
  • Communication
  • Culture
  • Innovation

When we conduct a customer satisfaction survey, what we ask the customers is important. How, when, and how often we ask these questions are also important. However, the most important thing about conducting a customer satisfaction survey is what we do with their answers. While conducting a Customer Satisfaction Survey we have a fixed number of parameters based on which we make our questionnaire and then administer on the customers.
The various parameters that we include in Customer Satisfaction Survey are like:

  • Sales Experience
  • Product Delivery Experience
  • Product Experience
  • Product Servicing
  • Relationship experience
  • Collection Experience