HR advice for market entrants to India
When you are first setting up in India hire your most senior people first – this is usually your national sales manager. It is a really good idea to have him on board before you hire the rest of the team.
Get your policies and procedures in place early to avoid unnecessary problems later. Consult with an expert who can help you improve efficiency in your HR systems. A clear payroll system and fair policies for travel allowances and hours worked are really important to ensure transparency and fairness. To attract talented employees and retain them it is very important that your salaries meet or exceed the average pay rates in India. Also set up an induction process – include basics about your company, your code of conduct as well as information about insurance and statutory payments.
All companies will need to pay “Provident Fund (PF)” when they reach a certain size and this will need to be factored into the payroll and become part of induction.
M+V are experts at hiring the right people for the right job and assist foreign companies with employee performance management. Be it hiring, salary bench-marking, managing payroll, policy framing – we can help you!