Assignment Taken

Prepare a Hiring, Training & Retention Plan for 2020 -21

Case Understanding

Case Understanding – 1. Demand for dedicated team 2. Demand for Human capital during plant set-up 3. Demand for skill training and talent development: As we are a startup, innovation is very essential and if the employees are not trained properly then employee retention will be at stake which will cost high to the firm. 4. Demand for Organizational Policy and Procedure

BCS Solution Summary

Solution Summary – Every start-up needs funds to work with and this is one of the drawbacks therefore we decided to make a prototype of our Electric Vehicle for Fund raising then setup our plant for production. In the initial days, we have invested a sum amount of Rs.48 lakhs + Rs.60 lakh on 16% interest in what we have to work with. So, in order to avoid confusion and chaos among teammates, I have decided on a Target and deadline based salary drawing. In a start-up every person must bring in equal efforts to the table to earn their piece of bread. To find out how much work each one of us has done, there is a work allocation target and deadline table given in the solution. Once we get the funds, we will hire the enough manpower in regards to sales projection. Then year on year expansion will take place to different cities and proportionate quantities of manpower will be hired. For retention plan, we mainly focus on MBO, Wages, Benefits, Attendance and time schedule. We will train our employees enough so that anybody will be ready to pay double of what we are paying them. Training is highly crucial in our start-up organisation.

Solution

Solution –

PLAN FOR JANUARY 2020 – JULY 2020

According to our plan we are making a prototype and pitch it to investors for funds. The expected time to get the funds approved would be 7 months duration from April 2020 - October 2020.

The culture in a start-up sees no differentiation in job roles initially, everybody’s job is flexible. When it comes to remuneration, the best way to get paid in a start-up is to work with targets and deadlines. As the case reads every team member has an average monthly personal financial requirement of Rs.50 thousand, which they wish to withdraw every month from this business which seems very difficult at this point in time. To overcome this, our start-up will follow the model of Proportionality salary wherein every team member is given his/her target with deadline.

100% job done = Rs. 50, 000

50% job done = Rs. 25,000 and likewise.

To eradicate confusion of jobs, the below tables provides idea of what a 100% job per month is. The assigned target must be completed in the stipulated time given and the firm is absolutely rationally in accordance with it. We are hiring 5 interns for the initial product assembly.

 

Designation	Month1	Month2	Month3	Month4	Month5	Month6	Month7
Computer Engineer	Integration of Vehicle management system	Schema Preparation	Pre Design model	Design	Development
Mechanical Engineer 1	Tools and part fabrication	Rear suspension assembly	Wheels assembly	Electric motor set-up	Brake system	Handle bars assembly	Mounting and holding
Mechanical Engineer 2	Tools and part fabrication	Rear suspension assembly	Wheels assembly	Electric motor set-up	Brake system	Handle bars assembly	Mounting and holding
Electrical Engineer	Rough plan schema	Battery fabrication	Electric motor set-up	Assembly
MBA Graduate 1	Company registration	Fund raising process	Procurement of equipment	Licenses and permits filing	Business development	Quotation for different parts	Preparation of legal documents
MBA Graduate 2	Company registration	Fund raising process	Procurement of equipment	Licenses and permits filing	Business development	Quotation for different parts	Preparation of legal documents
Marketing Personnel 1	Market research on Niche	MR on product	MR on Competitors	Brand building	Advertising, STP, 4Ps planning	Creating of Social Media pages & updating it
Marketing Personnel 2	Market research on Niche	MR on product	MR on Competitors	Brand building	Advertising, STP, 4Ps planning	Creating of Social Media pages & updating it
Mechanical Engineering Interns (5)	Work in assembly line	Work in assembly line	Work in assembly line

Note: - 1. Failing to complete the work on time will not attract any monetary benefits from the company unless authorised documented proof is submitted against it.

            2. Few parts will be imported while others will be manufactured by our team

 

 

Remuneration for the Interns:

 

1) Bonafide from their respective institutes in required

2) Signature on Non-disclosure agreement by the interns

3) Certificate of completion will be provided

4) Rs.2000 for 3 months to each member will be provided

5) Job guarantee once we set-up our plant

 

PLAN FOR AUGUST 2020 - JANUARY 2021

 

Hiring Plan:

 

To hire fresh, Our Company Vayu Pvt Ltd must have an exposure to the outer world and we will make it through Social Media – Optimized LinkedIn Company Page, Facebook, Paid promotion for Instagram job posting, Creating Employee branding video and share that on social media. We will constantly update our work culture and future aspects of business so that we can attract employee who are our prime customers. We entertain gender equality in our organisation.

 

Potential Hires –

 

We have planned to set-up a plant capacity of producing 1000 units/month. Now, the number of units of premium model & Middle end model to be produced per month will be determined by the market research projections. According to this, the quantity of manpower required for manufacturing and production is given below.

• Production Team – 50 employees
• Marketing Team – 40 employees
• Operations Team – 10 employees
• Human Capital Team – 10 employees
• Finance Team – 10 employees
• Research & Development Team – 5 employees
• Software Development Team – 10 employees
• Office Maintenance Team – 5 employees 

 

Total new hires = 140 employees

Already existing team = 8 members

Total employees = 148

Note: - The numbers in the bracket represents the number of employees to be hired for that particular designation. 

 

 

 

 

 

 

 

 

 

 

 

Operations Head(1)

Operations Manager(2)

Material Manager(1)

Purchasing manager (1)

Logistics officer(2)

QC/QA (3)

Production Head(1)

Mechanical Engineer(20)

Electrical Engineer(10)

Production manager(10)

Product manager(9)

Marketing Head(1)

Marketing Executive(10)

Area Manager(5)

Marketing associates(9)

Sales manager/man (15)

 

Finance Head(1)

Manager(2)

Executive(1)

Assistant(6)

Office Maintenance

Office boy(2)

Watch man(1)

Cleaners(2)

 

Human Capital Head(1)

Human Capital Manager(6)

Human Capital Executive(2)

Human Capital Associate(1)

Software Development Head(1)

Manager(2)

Executive(1)

Assistant(6)

 

Research & Development Team (5)

 

Remuneration for the new hires:-

 

• For Head of all the departments, Rs.12 lpa
• For Executives, Rs.10 lpa
• For Managers, Rs.8 lpa
• For Engineers, Rs.6 lpa
• For Office boy, Watchman, Cleaner, Rs.1.2 lpa

 

Remuneration for Vayu core team:-

 

All 8 members will be the board of directors with equal shares in the company.

 

 

 

Recruitment plan:

 

• Online Applications will be received from LinkedIn, Instagram, Our website..etc.
• Background check will be done with the help of online tools
• Psychometric test and online technical test will be conducted. Selected candidates will be called for further process
• Skype interview and Telephonic interviews will be conducted
• Offer letter will be provided to the deserving candidates
• Joining letters to the candidates will be sent via email

 

For upcoming years 2021-2025, We will expand to other cities like Chennai, Pune, Mumbai, Kolkata, Delhi, Ahmedabad, Bangalore … To tackle the expansion work, there is demand for manpower. In the year three 2022-202, we will hire the half the number of employees and as per the sales projections this will suffice the production unit.

 

 

Retention Plan:

 

Why should our employees retain in our company over others?

 

Our employees are our primary customers. Our main objective is to reduce attrition and have a healthy workforce. Following are the steps taken retention plan:-

 

·Management by Objectives (MBO): Management by objectives (MBO) is the appraisal method where managers and employees together identify, plan, organize, and communicate goals. After setting clear goals, managers and subordinates periodically discuss the progress made to control and debate on the feasibility.

 

• Wages:

• Basic salary + incentives. Employees will be incentivised based on their performance.
• On every national holiday bonus and gifts will be given

• Benefits:

• For Office maintenance team, Grocery worth Rs.2000 + salary will be given.
• Awards & Recognition: What really matters in the workplace is helping employees feel appreciated. One of the biggest motivators for employees is to be held in high esteem by their peers. The best way of earning this respect is by being acknowledged for being good at what they do.
• Medical cover, Life insurance cover and Accident cover of 1 lakh will be given to all the employees
• Wellness programs will be held every quarter.
• Once an employee completes 5 years in our company, one of their kid’s will be provided with scholarship amount.
• Interest free loan for adversity and emergency
• Gratuity after completion of 5 years

 

• Time & Attendance Schedule: Employees will have flexible time of work. A fixed number hour of productivity is mandatory yet, the time of work can be chosen for every month. 9 hrs of work is must, it can be either 8-5/9-6/10-7. This can’t be changed every day, it will be fixed for a month.

 

• Timely Feedback session will be held which will allow the employees to improve their productivity.

 

• Additional week off with every one year completion

 

 

 

Training Plan:

 

As a start-up culture requires a lot of innovation, disruptive ideas and creativity, its quite tough to have an employee team who can constantly upgrade themselves skilfully. Well trained employee makes our organisation scale up to heights. We will train our employees enough so that anybody will be ready to pay double of what we are paying them. Training is highly crucial in our start-up organisation.

All the training will be conducted for the employees based on needs and assessment. Every training program will be assessed 6 months once and conducted on need basis. The training programs we insist on our employees are:-

 

• Training on 6 sigma for Operations Team
• Training on Basic leadership tools
• Successful communication
• Conducting employee talks & feedback
• Conflict management and conflict communication
• Leading change
• Smarketing
• CRM

We will hire candidates who are fit for the specific job roles yet due to the fast moving pace of the current industry, up skilling and training is of utmost importance.

 

Conclusion

Conclusion: Human must not be seen as a resource rather a Value addition in terms or Intellectual property. Hence, HR is specified as Human Capital in the Case Solution. The HC department should look into the problems faced by the employees to reduce their pain points. If all the steps given in this case solution is implemented then according to the projected sales, we will succeed in the business. The management should see to that all the departments are working in coordination with each other at high efficiency and productivity achieving the goals of Vayu.

Attached File Details