Vineet Nayar, former CEO of HCL Technologies Ltd. has gone to the extent of writing a book “Employees First, Customers Second: Turning Conventional Management Upside Down”. Though the idea is not to reduce the importance of customers as stakeholders, but to show the importance employees hold in order to satisfy customers. At Cocoguru, employees are given as much respect. 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 that are 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 till they have paid leave balance. This way employees cash flows are not affected in spite of couple of unavoidable leaves taken. In case the leave balance is accumulated, it can be uncashed as per their prevailing salary.
Half-yearly Bonus
Emlpoyees who have spent at least an year with the company get lump sum bonus of 8%. It is accumulated and disbursed at the end of each half year. It depends on company’s profitability achieved against target set and employees contribution to profitability within their role.
Health Insurance
Employees are protected financially from unexpected health emergencies through 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 towards the government’s employee provident fund (EPF). Employees will get regular income in the form of a pension after retirement. Amount invested acts as a good saving on which healthy interest is added by the government. It can also be withdrawn in case of necessity as approved by the government.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 inside the campus. 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 the working hours. Food is served 3 times – Morning breakfast 10:30, Afternoon lunch at 1:15 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
For those in the sales function, sales targets are assigned and on the achievement of targets, incentives are given. 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 salary increment is given. Good performers have an edge over average performers. Good performers are rewarded on a proactive basis, performance is noted and recognised, there is no need for bragging and haggling. Appraisal cycle usually coincides with the financial year.
Products at discounted prices
Employees can take company products at discounted prices for their own use. Coconut oil being an edible oil and essential commodity, lower prices here helps employees keep their essential budget low.
Salary package when offered is given in terms of Cost To Company (CTC), it includes all the expenses done by the company directly in favor of the employee. So, it includes even Employer contribution to ESI and PF. It includes Food expenses and Paid Leaves value. It gives employees a sense of value they get. All increments, bonus they get is based on CTC.
The performance will be continuously monitored, 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 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, do something new. Doing something new involves taking calculated risks, taking risks 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 go back from work to the comforts of your home. Being a smaller town, opportunities to work in an organised set up is 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, skills required at work ranging from branding, e-commerce, accounting, packaging, sales, marketing and so on.
Fast Career Growth
Company is growing fast, its employees have also grown with it. Company kept adding people with different skills. Where you have started is no restriction to 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. This clears room for conflict and ambiguity.
