source of motivation and encouragement, empowering individuals to take charge of their career growth within the organisation. ADDRESSING THE UNIQUE NEEDS OF EMPLOYEES Employee Benefits • Compensation: Arohan has adopted a threepronged approach for its compensation structure to cater to the unique needs of the different groups of employees: • For entry-level employees, the approach focuses on ensuring more ‘cash in hand’ to meet their day-to-day expenditures, encouraging performance-linked incentive schemes • For middle management level employees, the focus is on balancing the aspects of long-term Retirement benefits and cash-in-hand to meet their immediate requirements • For senior leaders, the focus is on value creation through Employee Stock Option Plans and other tax-saving benefit schemes and variable pay, where the pay-out is dependent on the Company’s profit. • National Pension System: Arohan, in association with HDFC Pension, has introduced the National Pension System (NPS), a voluntary tax-saving retirement scheme tailored for middle and senior management. NPS allows employees to have flexible control over their contribution amounts, ensuring a customizable savings plan for their retirement years. Contributions to the NPS are eligible for significant tax benefits, enhancing its appeal as a prudent financial planning tool. • Car Lease Benefit: Arohan has introduced a Car Lease Benefit for employees, offering a significant tax-saving opportunity. Employees at the Deputy Manager level and above are eligible to avail this benefit, allowing them to lease a car and save on taxes. Additionally, those at the AGM level and above have the flexibility to choose between the Car Lease Benefit or Conveyance Reimbursements, further optimizing their tax savings and enhancing their overall compensation package. Employee Advances, Loans, and Grants: To mitigate the needs of certain short-term financial support, Arohan offers its employees advances, loans, and grants. Advances are given to address the immediate financial needs of the employees, which can be paid back within a stipulated timeline. Loans are of two categories – Personal and Educational, which relatively is a large amount Employee onboarding Arohan believes that Employee onboarding is more than just a paperwork process; it’s the crucial first step in setting the tone for an employee’s journey within the Company. At Arohan, a well-designed onboarding experience significantly helps impact an employee’s engagement, productivity, and retention. • Aashirwaad: The Aashirwaad programme stands as a cornerstone of Arohan’s field onboarding process. Of the total field force of the Company, more than 65% are between the age group of 21–27 years. Hence, it is construed that, more often than not, the job offered to them is their first job. Aashirwaad extends a warm invitation to the families of probationary field officers, integrating them into the onboarding experience. This not only fosters an emotional connection with the Company but also enhances engagement and retention by ensuring a supportive network from the outset. • Employee Selection Process: At Arohan, the employee selection process is meticulously crafted to ensure the right fit for every role. Anchored by our proprietary Competency Framework, we employ a diverse array of evaluation methods tailored to each candidate’s level and position. For mid-level and senior roles, a panel of department heads conducts interviews, leveraging psychometric tools for comprehensive behavioral assessment. Junior candidates undergo online aptitude tests, while Customer Service Representative selections now incorporate psychometric evaluations focusing on Achievement, Motivation & Adaptability. In a first for Arohan, field employee selections include a mandatory one-day field visit and report submission, offering candidates a firsthand glimpse into our operations. Simultaneously, candidates are encouraged to evaluate both the sector and the Company, ensuring alignment with our mission and values before onboarding commences. This holistic approach not only facilitates informed decision-making but also aids in managing drop-out rates effectively. Performance Driven Culture At Arohan, promotion isn’t just about tenure— it’s about merit and performance. We foster a culture where employees advance based on their demonstrated skills and contributions. Through a rigorous evaluation process, individuals are assessed for their readiness for the next level, considering factors like performance and maturity. Moreover, the Company actively encourage employees to pursue higher positions through its Internal Job Postings. These opportunities not only recognise and reward talent but also serve as a 65 | Annual Report 2023-24
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