Empowerment

What is Empowerment?

 

‘Empowerment’ or ‘Employee Empowerment’ refers to the practice of providing the employee with the tools and resources required to undertake jobs without a supervisor’s approval.

 

It is a long-term process. However, the rewards of such a system include confident employees who are engaged and loyal to the company. It also makes them responsible for their actions as well as empowers them to understand the gravity of certain situations and take necessary decisions as and when required.

 

It also encourages creativity and innovation throughout the company as the situations and problems being faced by the company are tackled head-on. However, care should be taken that the employees need not take unnecessary risks.
Similarly, security is also an issue as the employees should be trusted with company secrets to aid their empowerment. Care should be taken that these employees are not poached by competitors.

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What is Coffee Badging?   Coffee badging refers to behaviour where employees come to the office and stay just long enough to ensure that their

Defined Contribution

What is a Defined Contribution?   A ‘Defined Contribution’ is a pension arrangement in which the contribution provided by the company is well-defined and fixed

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