CAIIB Human Resources Management Module E Unit 1 : Contemporary Practices in Employee Engagement

17/05/2024

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CAIIB Human Resources Management Module E Unit 1 : Employee Discipline (New Syllabus)

IIBF has released the New Syllabus Exam Pattern for CAIIB Exam 2024. Following the format of the current exam, CAIIB 2024 will have now four papers. The CAIIB Rural Banking includes an important topic called “Contemporary Practices in Employee Engagement”. Every candidate who are appearing for the CAIIB Certification Examination 2024 must understand each unit included in the syllabus.

In this article, we are going to cover all the necessary details of CAIIB Human Resources Management Module E Unit 1 : Contemporary Practices in Employee Engagement, Aspirants must go through this article to better understand the topic, Contemporary Practices in Employee Engagement and practice using our Online Mock Test Series to strengthen their knowledge of Contemporary Practices in Employee Engagement. Unit 1 :Contemporary Practices in Employee Engagement

Employee Engagement

‘Employee Engagement’ is a workplace approach where an organization creates the conditions and situations in which the employees give their best each day and work more than their capability and potential which is really very difficult task.
‘Employee Engagement’ is the extent to which employees are motivated to contribute to organizational success, and are willing to apply discretionary effort (extra time, brainpower and effort) to accomplishing tasks that are important to the achievement of organizational goals.

The three components of engagement, namely:

Cognitive – It is the belief that an employee has about his company and its values.
Emotional – It is the feeling an employee has about his/her colleagues, supervisors.
Behavioural – Is what the employees exhibits at work commitment.

Various Features And Characteristics Of ‘Employee Engagement’

There are five basic characteristics of ‘Employee Engagement’:

Engagement depends on physical, mental, and psychological state, level of support to company innovation policy and implementation of change on specific work area.
Engagement is in direct proposition to efficiency and effectiveness of labour activity.
Degree of engagement in work among each employee greatly varies even when a homogeneous group of employees are on the same job/functions.
Employee engagement may have both quantitative and qualitative expressions.
Engagement is employee desire and skill actively (for the benefit of the organization) within their professional duties.

Drivers of ‘Émployee Engagement’

People-centric Culture of the Organisation
Collaborative and Inspiring Leadership
Workplace Culture and being an ‘Employer of Choice’
Culture of Meaningfulness
Level of Trust and Respect
Exciting ‘Work-Life Balance’
Employees’ emotional commitment towards Job
Extent to which the employee derives enjoyment
Feeling of Pride and Inspiration
Well-entrenched Communication
Timely Recognition and Rewards
Effective and Assertive Intra and Inter Personal Relationships
Commitment to Corporate Social Responsibility (CSR) activities
Organisation’s Values and Goals
Organisation’s Reputation

Strategies to Engage Gen ‘Y’ Employees

Encourage employees to speak up: Keeping an “open-door” policy is essential. The more you foster an open, safe space for communication, the more likely it is that your staff will bring great ideas to the table.
Help employees to get socialize
Inclusive mentoring: mentoring involves a mutual liaison between the supervisors and the juniors; junior employees procure knowledge and skills, understanding of roles and guidance from the mentor; in return supervisor benefits through productive use of knowledge, recognition and sense of satisfaction.
Stimulating Career Development: Career development is a process of development rendered by organizations in improving skills and knowledge, individual growth; enriching the present job and preparing for the future.
New and Innovative Learning Interventions: Gen-Y prefer multimedia training and e-learning enhancing them laterally and vertically to acquire skills with in a multi-directional career system.
Fascinating Work Environment: Gen Y employees have greater preferences for workplace with flexible and unconventional work environment; common space to collaborate; relaxation activities; technological connections and social media; friendly co-workers and fun atmosphere.
Techno-savvy Communication Channels: Technology paves way for information dissemination in a faster pace in today’s workplace.
Evolve a Creative Knowledge Sharing System: organizations should evolve a creative platform for knowledge sharing by this generation employees. If Gen Y employees feel that they are being heard and their knowledge is regarded and respected it makes them to be more loyal and committed to their jobs.

‘Work From Home’

Benefits

Flexibility and agility
Improved employee retention
Attract new talent
Increased productivity
Enhanced employee motivation
Improved staff health and wellbeing:
Financial benefits

Demerits

Lack of physical exercise
Difficulty in implementing disaster/business continuity strategy and high monitoring cost of the manager
Professional isolation and organisational identification
Impaired Superior-subordinate relationship
Plenty of distractions affecting productivity adversely
Strained Inter-personal Relationships: Strained family Relationships

Strategies To Keep Employees Engaged When They Are Working-from-home (WFH)

Community building: It is useful for an organization to adopt these strategies:

Create a virtual office for employees.
Invest in the best video conferencing and collaboration tools.
Create a forum for employees to share personal as well as professional updates.
Assign collaborative tasks weekly, encouraging team members to work together and stay connected.
Create virtual team activities like online multiplayer games, quizzes to keep up their morale and boost their moods.
Adopted a virtual coffee break.

Robust Communication: Frequent corporate leadership communication (creating an information hub) – daily, weekly, or as available is the need of the hour.
Meaningful Goal Setting: Set clear deliverables and specific metrics that will enable you to track outcomes and measure results.
Timely recognition: Recognition in the workplace is quite essential for the overall success of the organization. It fuels their zeal to do better and earn appreciation from their managers and peers.
Fun-filled engagement: Conducting periodic culture/attitude surveys to check with employees about what employees are thinking, feeling and doing etc. is also a very effective engagement tools for WFH employees. Add elements of fun through gamification to make work more enjoyable.
Harnessing learning habits: Many companies have invested in e-learning platforms and employees will be able to learn new skills and upskill their existing skills in the extra hours
Provide Support for Equipment and other Business continuity disruption
Engage employees in CSR Activities: it instills pride in employees to be associated with a brand that is helping the community.

‘Hybrid Model’ of Working

‘Hybrid Model’, is a model in which employees can work at the office or from home, or can mix it up during the working week. While some workdays may require the physical presence of all employees, other working time can be a mix of physical and virtual presence.
There is no single “best fit” model that can be replicated by all organizations, but a “fit for purpose” model that needs to be evolved by every organization basis its own unique business models. In order to ensure a seamless and smooth transition from entirely remote work process to Hybrid arrangement, organisations need to plan and execute the change meticulously.
Organisations need to figure out innovative strategies to keep employees engaged and suitably equip with the right policies for rewards and recognition for high performance and good work.

‘U-WORK’ & ‘ÓPEN2U’: New And Novel Employment Models

Hindustan Unilever (HUL) is reported to have invented two new employment models that challenge traditional employer-employee dynamics U-Work and Open2U.
Under ‘U-Work’, HUL employees can choose to be engaged with the company in a flexible way while getting financial security, retirement, and medical benefits. India is among the key markets where Unilever has rolled out U-Work. Under this, an employee is required to put in six weeks of work in a year.
The ‘Open2U’model, introduced specifically for India, allows gig workers, who are not employed with the company, to work on different assignments/projects and get a financial safety net and medical benefits.

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CAIIB HRM Module E Unit 1 ( Ambitious_Baba)