Boss, Have Merc On Me

Experts believe that non-financial rewards, like some mentioned above, often are more sought after as they comprise what can be termed as 'psychic income'. One can, in fact, play around with non-financial rewards and come up with innovative people's practices. For instance, NIIT boasts of coming up with 'dating allowance' as an innovative retention tool. While in most establishments, the management discourages intra-staff weddings, at NIIT the opposite is observed. "This practice has never affected our productivity," says Rosita Rabindra, senior VP, HR, NIIT.

The logic—if both the spouses work at the same place, they would never be in a hurry to get back home and travel also becomes easier. What's even better is that employees continue to get this allowance even after they tie the knot. The cynical interpretation (and which office is truly complete without one?) is of course that it works out to be a relatively inexpensive way to keep employees happy and in office.

NIIT also offers other attractions like paternity leave and sending a car to employees on their wedding anniversary to take their spouses out. Those working at Vertex have it even better.The management provides them a chance to travel in the CEO's Mercedes. At random employees are picked up for office and then dropped back home in the chauffeur-driven luxury car. "And it always is a surprise, suddenly you realise you have a Merc to drive in to office, it's a great feeling," says Sumana Ghoshal. Better than theatre workshops, you'd say.

Another popular incentive floating in the corporatescape to consolidate their human resource capital is to help the staff continue their education while working. Leading IT firms have tie-ups with various business and technology institutes for degrees in management and sciences. Infosys has an in-house mba. Avaya Global Connect (earlier Tata Telecom Ltd) encourages employees to undergo professional certification with CISCO in line with business needs. "These certifications are recognised through the industry and boosts the individual's image in front of the customer," concurs B.N Jha, director, people excellence, at Avaya. The company also encourages engineers to conduct training programs. Each engineer who conducts a technical training is entitled to a monetary allowance on a per day basis. Later, Best Trainer awards are also given to ensure motivation of the staff. Similarly, Vertex has tie-ups with the Indian Institute of Management-Kozhikode, Narsee Monjee Institute of Management, Mumbai and International Management Institute, Delhi, that offer management education at discounted rates. AT JK Tyres, the management encourages diploma-holders to go in for courses at iims.

Giving a chance to indulge in social welfare is also being recognised as a part of that 'psychic income'. Computer Sciences Corporation (CSC), an IT firm, gives a six-month sabbatical allowing employees to work in an NGO of their choice. With half salary and costs, CSC ensures that the employee is assessed on his/her work quality at the NGO.

Some companies like Hughes Software believes such activities also help improve the work-life balance that directly affects productivity of an individual. "We organise cultural programmes and encourage our staff to come up with activity-based clubs. Our objective in doing so is to provide a richer and fuller experience at office," says Aadesh Goyal, VP, HR, Hughes Software.

Such benefits tend to be sector-specific. They are more common in industries that face high attrition. "For instance, with attrition rates as high as 45 per cent, the BPO sector has no choice but to come up with innovative ways of retaining their employees," says G.P. Rao, vice-president HR, JK Tyres.

While enjoying work is entirely desirable, facilities like concierge services have genuine utility given today's tight deadlines and long hours, a life that finds all its fulfilment at work seems somehow lacking, however the HR profession may choose to dress it up. As Vaishali Khanna of Fidelity Mutual Funds puts it, "People would rather spend their off hours with their families than in the office."

Even NIIT's Rabindra will add that apart from these unusual perks, factors like an employee's professional growth and on-job learning should have a greater role to play in retention of talent. But as long as the party lasts, no one's complaining.