7 HR Policies Company Founders Must Consider Implementing In Their Organisation

 

As a founder, defining the company's mission and values, identifying growth opportunities, fostering innovation, and cultivating a strong company culture are very important. To create a strong company culture, founders, along with HR professionals, incorporate HR policies that can create a productive and safe environment for employees. In this blog, we will have a look at 10 HR rules that all business founders should implement to guarantee the long-term viability and expansion of their enterprise.

1. The Equal Employment Opportunity (EEO)

Policy is a fundamental component of the human resources (HR) structure of every organisation. It forbids harassment and discrimination on the basis of protected traits like gender, age, disability, or race. Founders can reduce legal risks related to discrimination claims and draw in diverse talent by fostering an inclusive and fair culture.

Advantages of EEO:

1. It helps attract and retain top talent from diverse backgrounds.
2. Boosts employee morale, engagement, and productivity.
3. Encourages innovation and creativity through diverse perspectives.

2. Code of Conduct and Ethics Policy

This document describes the ethical standards and behaviour requirements for employees inside the organisation. It lays out standards for honesty, secrecy, integrity, and conflicts of interest. Founders can preserve the organisation's integrity and reputation while building a culture of trust and responsibility by establishing clear expectations and standards.

Advantages of the code of conduct and ethics policy:

1. Establishes clear expectations for employee behaviour
2. Protects the organisation's reputation and brand image.
3. Builds trust and credibility with stakeholders.

3. Workplace Safety and Health Policies

By guaranteeing a secure and healthy work environment, the policy places a high priority on employee well-being. It describes how to report accidents, respond to emergencies, and follow occupational health and safety laws. The founders show their dedication to the well-being of their team and reduce the likelihood of accidents and injuries at work by placing a high priority on employee safety.

Advantages of workplace safety and health policies:

1. Reduces the risk of workplace accidents and injuries.
2. Compliance with occupational health and safety regulations.
3. Improves employee morale and job satisfaction.

4. Attendance and Punctuality Policies

This HR policy governs an employee's attendance, punctuality, and reporting of absences. It defines protocols for requesting leave and defines repercussions for excessive tardiness or absence from work. The founders of the organisation can maximise productivity and guarantee seamless operations by upholding constant attendance standards.

Advantages of attendance and punctuality policies:

1. Enhances employee accountability and responsibility.
2. Fosters a culture of punctuality and professionalism.
3. Supports fair and equitable treatment of all employees.

5. Leave and Time-Off Policies

These policies outline the types of leaves employees are eligible for, such as parental, bereavement, sick, and vacation leaves. It describes the requirements for eligibility, the accrual rate, and the steps involved in seeking and approving time off. Founders can promote work-life balance and employee well-being by offering extensive leave benefits. Founders can also opt for the sandwich policy in HR if employees start taking too much advantage of the leave policy.

Advantages of leave and time-off policies:

1. Promotes employee well-being and mental health.
2. Allows for flexibility in managing personal and family needs.
3. Increases productivity by preventing burnout and fatigue.

6. Performance Management Policies

A performance management policy describes the steps involved in assessing worker performance, establishing objectives, giving feedback, and conducting performance reviews. It lays out precise guidelines and accountability standards to promote worker growth and organisational achievement. Entrepreneurs may maximise employee engagement and productivity by implementing efficient performance management procedures.

Advantages of performance management policies:

1. Recognises and rewards high performers.
2. Ensures alignment of individual goals with organisational objectives.
3. Improves employee engagement and motivation.

7. Employee Onboarding Policy

The process by which recently hired staff members become acquainted with the company's operations, personnel, and culture is known as employee onboarding. This phase of the employee's life cycle is crucial. An organisation introduces new hires and integrates them into their new roles and responsibilities. Many top organisations provide new employees with joining bonuses and gifts to welcome them and show gratitude.

Advantages of employee onboarding policies:

1. Smooth integration of new hires into the organisation.
2. Accelerates time to productivity for new employees.
3. Aligns new employees with the organisation's culture, values, and goals.

Conclusion

Founders must prioritise the implementation of essential HR policies to establish a robust organisational culture. From ensuring equality and safety to fostering productivity and aligning goals, these policies lay the groundwork for long-term success. By adhering to these principles and integrating new hires seamlessly, founders can cultivate an environment that nurtures talent, promotes growth, and drives prosperity.

If you are the founder of a business, it is also very important to have good HRMS and payroll software to streamline your business. This software can help with attendance, employee data, salary slips, HRMS leave encashment, and eliminating repetitive manual work. Opportune HR is one of the best HRMS and payroll companies in Mumbai. They were awarded two awards for their work in the field of human resources. Their features include an application tracking system, onboarding, training management, timesheet and more. Visit their website to learn more about their HR-related services.