Brief Profile of Speaker:
Ms. Vidya Balasubramaniam
She has completed her Master in Electronics from Delhi University and also completed her Postgraduate Certificate in Human Resources from XLRI. Adding to her degree Ms.Vidya is certified in Organizational Development from ISABS. Coming to her professional profile, she is a specialist in learning and development and has experience of over 15 years in organizations like Finastra, Tata Communication, and Mahindra Comviva. She is passionate about the learning outcomes and how they can impact the business environment as a whole. She has also conceptualized, designed, and also executed a range of behavioral interventions pertaining to self-transformation, leadership development, group dynamics, team building, and personal growth. She has been a driving force to help businesses grow in the right direction. Her motive is to facilitate change and innovate processes relevant to people and the organization as we all know change is the only constant thing in life.
Learnings from the event:
The session started with survey questions from the slido.com website where the students were asked to choose the answers for 4 questions to know about our basic understanding of compensation. The questions that were asked,
About bell curve.
If the company is said to pay 75% compensation – what does this mean?
What do you understand about Job Analysis and Evaluation?
Explain Market Benchmarking?
Then she explained the overview of compensation. She started with the employee life cycle.
She then gave a gist about business strategy which includes below questions to answer,
What is the business environment?
Where is the organization going?
How will the org measure success? And so on.
The speaker also explained about Human capital strategy and compensation strategy. She insisted that a winning Business Strategy would include organization success, perpetual competitive advantage, and sustained employer of the choice. The talent strategy should cultivate high performers by identifying and keeping them engaged and motivated. HRs should also have a key position backup so that if any person leaves the org we can have a backup person or Subject Matter Expertise. Finally, resource allocation should be efficient and sufficient to do a particular work. She further explained how communication with the employees builds relationships and allows for strategic alignment and execution of the goals and strategies. Performance management is also very crucial to successfully execute the compensation strategy.
Feedback from students: The session was very insightful. The speaker explained about components of compensation and how it works in an organization. We were given a case study to solve in groups. It was informative and interactive. More time could be given for solving the case study was one major feedback from the students. As a whole, students found the session engaging and informative with many live organizational examples.