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HR Policies Every Company Should Have

hr policies every company should have

HR policies are guidelines designed to outline company standards and procedures, helping manage employee expectations, prevent miscommunication and ensure all employees are treated fairly.

Companies need current HR policies that respond to current trends and situations to protect themselves against legal complications and increase productivity. By doing so, businesses can better safeguard themselves from legal complications while simultaneously increasing productivity.

1. Employee Handbook

Your employee handbook serves as the definitive resource for policies, laws and procedures affecting all employees within your company. It should also outline company culture and values as well as provide education to new hires. Ideally written using plain language that avoids legalese.

Your plan should also outline business operating hours and specify whether your store is open on holidays. Finally, include a communication policy regarding email and social media so employees understand that information created or sent from devices owned by the company belongs to it and must remain under its ownership.

Other sections that should be included in your employee handbook are a disclaimer that employment is at will and nothing in this handbook alters it; how to report policies or procedures that violate the law; and an employee acknowledgement page whereby each employee acknowledges receiving and reading your employee handbook before agreeing to comply with its policies. Your HR team should retain these acknowledgments in each employee file – using templates can help your HR team get started!

2. Social Media Policy

HR policies provide employees with clear rules for social media use, helping prevent them from making missteps that compromise company values and diminish morale. They should also serve to reinforce company values and foster a productive work environment, but care must be taken when creating these policies, with too restrictive or unclear policies creating confusion or lessening employee morale; prior to creating any policy make sure it’s easy for all to comprehend before consulting an attorney before implementation.

Certain HR policies are included as part of an employee handbook while others stand alone as standalone documents, yet all employees should have access to them; this is particularly pertinent with remote work being increasingly prevalent.

A solid social media policy can protect a company’s reputation by ensuring employees do not share confidential data on personal accounts or discuss it publicly in a negative manner. Such an agreement should cover monitoring methods as well as emergency contact info in case of emergencies or questions; additionally it should specify whom to reach out for issues like crisis management or disciplinary actions.

3. Provident Fund Account

Saving for EPF (Employee Provident Fund) is one of the best investments you can make for your future. Fi, our salary program with Federal Bank, makes saving easy by automating EPF savings and helping manage/grow your money with features like Connected Accounts, Analyser & Goal-based Savings.

The PF scheme is a mandatory savings plan established and monitored by the government that offers employees a way to save for retirement. It’s distinct from gratuity payments which offer one lump sum upon leaving employment and pension funds that offer monthly retirement pension payments after retirement.

Employees typically contribute between 2- 15% of their salaries to a PF scheme, which is then matched by their employer. They can withdraw the funds at any time or transfer between employers using the same PF scheme. Once an employee ceases working, his/her accumulated corpus can be claimed by either their nominee, legal heirs/guardians if applicable or post-retirement expenses covered with it.

4. Employee Relationship Management (ERM)

HR policies provide guidelines to create and enforcing relationships between an organization and its employees, including work culture, employee benefits and manager/employee relations.

ERM should be part of every HR department’s duties to create a healthy workplace environment, including transparent communication, skill development and commitment to employee welfare. Conflict resolution training as well as employee engagement activities help foster greater employee satisfaction and loyalty among staff members.

Create HR policies is a time-consuming task, yet an essential one for any business. Sharing the policy with senior managers will enable them to identify any areas requiring improvement and foster team confidence and communication within your workplace. Your HR policy should state its flexibility depending on business needs or external influences such as new legislation, pandemic conditions or market and work trends which could influence changes to it; the language should also be clear so your employees can easily understand and adhere to it.

5. Payroll

HR policies exist to provide guidance and clarity when it comes to handling employee-related matters, while also shielding organizations from legal liabilities by decreasing risks associated with misinterpretation or unfair treatment of their staff.

HR policies of key importance to any business include those related to company perks and benefits, hiring/firing practices, time off/attendance policies and overtime availability for employees. Other pertinent policies may include compensation policies that outline how much employees can earn as well as overtime availability for workers; attendance policies which outline expected levels of punctuality/attendance as well as procedures for requesting leave may also be essential components.

Payroll policies are another key HR component. They outline how the company will pay its employees and include details on taxes such as federal, state and local income and employment taxes as well as Social Security and Medicare contributions. They also explain how employees can access their paychecks as well as how payroll processing takes place; usually this responsibility lies between HR and accounting departments – with accounting being responsible for gathering inputs such as bank account details or PAN numbers from employees that will complete this process.

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