Subject: How Coverfox Crafted a Turnaround with Talent-First Approach II Xpressbees’ HR Plan For The IPO II Policybazaar on Corp Wellness Strategy
From: All Things Talent Magazine <[email-masked]>
To: [email-masked]
Date: Fri, 3 Jun 2022 12:24:07 +0530 (IST)

ATT Newsletter | June, 2022

How Coverfox’s Talent-First Strategy Helped it Come Out of a Crisis

In the first quarter of 2020, before Covid-19 struck the world, Coverfox’s entire founding and leadership team, including the then CEO and CTO, walked out to join a competitor. The company had about 700 people at the time, and almost 100 left in hordes.

Sanjib Jha recalls that he received a lot of pushback from Coverfox’s employees when he took over as interim CEO. “There was a lot of doubt in their minds about the future of Coverfox. It took me exactly a month, from February 21 to March 20, to convince people that we were not going to shut the company down. But still, there was mayhem with respect to whether the salaries will be paid on time. And then there was attrition—employees resigning almost on a daily basis,” Jha says.

But the company persevered. Over the past couple of months, the company has increased its revenue and slashed its burn rate by 90%. Most of that success comes from the company’s effective talent strategy, which is now incubating big ideas in its employees.

For instance, its newly launched insurance infrastructure-as-a-service product, CoverStack, was an idea borne out of a town hall meeting and is now its growth engine.

| |

READ MORE

| |

| |

Have ESOPs, Every HR Manager’s Trump Card, Lost its Sheen?

A KPMG ESOP Survey Report 2021 report suggests that as many as 68% of the companies they spoke to either had a running ESOP program or were planning to implement one. But what happens if the value of the company skids for some reason? The sharp correction in the stock market and poor performance of some companies after their listing have changed the complexion of the ESOPs from boon to bane. While ESOPs are still a highly lucrative recruitment benefit, it’s high time organisations explore other ways of retaining and gaining talent as this is not a fail-safe option. Read more

Xpressbees’ Ajoy Salve on Training Blue Collar Workers, Getting IPO Ready and more

"Retaining talent, growing infrastructure as well as keeping up with automation and technology are the biggest drivers for an IPO. Given that we will grow faster than what industry grows on a year-to-year basis, the only way forward for us is to ensure that we are able to attract and retain skilled talent," shares Ajoy Clement Salve, CHRO & Administration Officer, Xpressbees. In a chat with us, Salve delves deeper into the way the organisation is preparing for an IPO, its move to open academies in tier-II, Tier-III cities, hiring plans and more. Read more

| |

3M India Introduces Work From Any Country but Employees Prefer India

As a sub-part to the remote working category, 3M introduced the Temporary Alternate Work Location option wherein employees can work in an alternate destination outside their home country for up to 30 days per calendar year if they have notified their supervisor in writing and can perform their work duties remotely. But out of the 35% of employees who have opted for the Remote option, the maximum has chosen a location within the country. Samita Patil, Senior Manager-HR, shares more details about the policy. Read more

Policbazaar’s Raghuveer Malik on the need for a Comprehensive Corp Wellness Strategy

While a majority of people resign from their jobs due to a lack of choice to work remotely, a large percentage want to switch jobs because they are not satisfied with the kind of benefits their organisation offers as part of their income package. Moreover, a large number of employees want the flexibility to choose the kind of health and wellness benefits that they can opt for. Raghuveer Malik, Business Head, Corporate Insurance, Policybazaar explains how having a thoughtful wellness strategy can help organisations tide over any setback like a pandemic. Read more

| |

TresVista To Help Resigning Employees Get A New Job

TresVista is going to help employees who wish to leave the organisation in 3-5 years, get placed through connections. The strategy is in the works and will get functional by the end of this year. Sudeep Mishra, Co-founder and Managing Director, explains how the firm is devising this strategy, hiring plans, etc.. Read more

| |
| Also read: |

| Building a Strong Employer Brand Isn’t The Job Of Just One Team; EY GDS’ Syeda Meher Taj Reveals Why
| What Are The Must-Haves For An Employee-first Approach to Upskilling?
| Demand for Web 3.0 Talent Surges, Most Job Creation to Be in Gaming and IT industry
| Global Hyperautomation Services Company Vuram is Making Students Job-Ready and How
| Noise Cofounder on New Growth Market and Talent Drought for D2C Cos
| Enterprises and Companies Can Use AI to Deal with The Salary Problem – Here’s How
| Here’s How Data Science Can Streamline Human Resource Operations

| |

| |

| |

If you would like to Contribute to our Blog do share your details with us by clicking the button

Contribute

| |

| |
| If you find our resources valuable, don't forget to share them with your network. If someone sent you this, feel free to subscribe to our monthly magazine and website. |
| |

Stay safe!
Team All Things Talent

| |

| |

Don't want to receive these mails? Click here to unsubscribe.