Vineet Nayar, a former CEO of HCL Technologies Ltd., has written a book, “Employees First, Customers Second: Turning Conventional Management Upside Down.” The idea is not to reduce the importance of customers as stakeholders but to show the importance employees hold in satisfying customers. At Cocoguru, employees are given as much respect as customers. They are not treated as cost centres but as valuable contributors. Though Cocoguru is a family-owned business, it is professionally managed.
Some of the tangible benefits that Cocoguru Employees get are
Holidays
All Sundays are holidays. Apart from them, even on weekdays, holidays are given for festivals celebrated locally. This way, employees can celebrate them with their families without the tension of their office work. Festivals are Makara Sankranthi, Maha Shivaratri, Vishu Sankramana, Puttur Jaatre, Nagara Panchami, Krishna Janmashtami, Karpadi Subramanya Temple Jaatre, Ganesha Chathurthi, Vijaya Dashami and Deepavali.
Paid Leaves
Around 15 paid leaves are given in a year. Employees can take them with prior approval from their manager. Month-end salary is not deducted until they have paid leave balance. This way, employees’ cash flows are not affected in spite of a couple of unavoidable leaves taken. In case the leave balance is accumulated, it can be encashed as per their prevailing salary.
Half-yearly Bonus
Employees who have spent at least one year with the company get a lump sum bonus of 8%. It is accumulated and disbursed at the end of each half-year. The bonus depends on the company’s profitability achieved against the target set and the employees’ contribution to profitability within their role.
Health Insurance
Employees are protected financially from unexpected health emergencies through the Government’s Employee State Insurance (ESI), Group Medical Coverage (GMC) and Group Personal Accident Coverage (GPA). Enrolment will also be facilitated towards the central government’s Ayushman Bharath scheme.
Provident Fund
The contribution will be made to the government’s employee provident fund (EPF). After retirement, employees will receive a regular income in the form of a pension. The amount invested acts as a good savings, to which the government adds healthy interest. It can also be withdrawn in case of necessity, as approved by the government.
Food Inside Campus
The company runs a canteen inside the campus to provide fresh food to employees working there. This way, employees don’t have to carry food from outside, nor do they have to go outside for food. This allows for undistracted work during working hours. Food is served three times: Morning breakfast at 10:30, Afternoon lunch at 1:00, and Evening snacks at 4:30. Food is freshly prepared as per local taste by an appointed cook, and it is ensured to be done in a hygienic manner.
Overtime Salary
For employees who work beyond their working hours, salary is paid at 50% premium to their normal salary for the extra work done. This way they are compensated well.
Incentive
Sales targets are assigned to those in the sales function, and incentives are given for achieving targets. Targets are set realistic so that salesmen have a good chance of achieving them when they perform well.
Annual Increment
The company announces the maximum salary growth rate for next year based on the company’s performance and macroeconomic conditions. Individual performance during the year is evaluated during the annual appraisal. Based on ratings achieved, a salary increment is given. Good performers have an edge over average performers. Good performers are rewarded proactively; performance is noted and recognised, and there is no need for bragging and haggling. The appraisal cycle usually coincides with the financial year.
Products at discounted prices
Employees can purchase company products at discounted prices for their own use. Coconut oil is an edible oil and an essential commodity, so lower prices here help employees keep their essential budget low.
When offered, the salary package is given in terms of Cost To the Company (CTC). It includes all the expenses done by the company directly in favor of the employee. So, it includes even the Employer’s contribution to ESI and PF. It includes Food expenses and Paid Leave value. It gives employees a sense of the value they get. All increments and bonuses they get are based on CTC.
Performance will be continuously monitored, and feedback will be given. Annually, during December, a performance appraisal and review meeting will be held with your manager. Here, your performance will be critically analyzed, constructive feedback will be given, goals will be set for next year, and your salary will be revised.
These are not all; these are only tangible benefits; there are many intangible yet valuable benefits
Make Mistakes
Cocoguru is an entrepreneurial organisation where people have to go out of their comfort zone and do something new. Doing something new involves taking calculated risks, which may result in failures. Failures are not punished; they help in gaining experience and setting up success later.
Organised setup at your native place
We prefer to employ local candidates so that you can return from work to the comforts of your home. Being a smaller town, opportunities to work in an organised setting are limited, yet we provide that.
Apply Skills and Learn
Being an oil mill doesn’t mean the work is only about oil milling. There are many functions and skills required at work, ranging from branding to e-commerce, accounting, packaging, sales, marketing, and so on.
Fast Career Growth
The company is growing fast, and its employees have also grown with it. The company kept adding people with different skills. Where you have started is no restriction on where you can be.
Responsibility
Employees are given a detailed job description, the scope of work is defined, and they mostly work cohesively within their department. Responsibility is clear, which eliminates room for conflict and ambiguity.
