A PROJECT REPORT ON

“HR POLICY FORMULATION AND ADMINISTRATION”

Submitted in the partial fulfilment of the requirement for the award of the degree
MASTER OF BUSINESS ADMINISTRATION

Submitted by
Velicheti Tulasi Bhavani
Register No. 122023701003

Under the Guidance of

Dr. K V Sandhyavani
Associate Professor

GITAM INSTITUTE OF MANAGEMENT

GITAM (DEEMED TO BE UNIVERSITY)
VISAKHAPATNAM

2020-2022
 TABLE OF CONTENTS

CHAPTER 1 INTRODUCTION ........................................................................................................................ 1

1.1 NEED/ SIGNIFICANCE OF THE STUDY .................................................................................................................2
1.2 OBJECTIVES OF THE STUDY ..................................................................................................................................3
1.3 SCOPE OF THE STUDY ...........................................................................................................................................3
1.4 RESEARCH METHODOLOGY ..................................................................................................................................4
1.5 LIMITATIONS OF THE STUDY................................................................................................................................4
CHAPTER 2 INDUSTRY AND COMPANY PROFILE .................................................................................. 5
2.1 INDUSTRY PROFILE ...............................................................................................................................................6
2.2 COMPANY PROFILE ...............................................................................................................................................9
CHAPTER 3 THEORETICAL FRAMEWORK ............................................................................................. 12
3.1 TOPIC RELATED CONTENTS .............................................................................................................................. 13
3.2 REVIEW OF LITERATURE ................................................................................................................................... 19
CHAPTER 4 ANALYSIS .................................................................................................................................. 20
4.1 SEXUAL HARASSMENT POLICY ......................................................................................................................... 21
4.2 WHISTLE-BLOWER POLICY .............................................................................................................................. 26
4.3 WORK FROM HOME POLICY ............................................................................................................................. 30
4.4 CORPORATE SOCIAL RESPONSIBILITY POLICY ................................................................................................ 33
4.5 INCREMENTS POLICY ......................................................................................................................................... 37
4.6 PROMOTIONS POLICY ........................................................................................................................................ 39
4.7 COMPENSATION AND BENEFITS POLICY .......................................................................................................... 41
4.8 EMPLOYEE CELL PHONE POLICY ...................................................................................................................... 43
4.9 EMPLOYEE SOCIAL MEDIA POLICY................................................................................................................... 45
4.10 PROBATION AND CONFIRMATION POLICY ....................................................................................................... 47
4.11 OPEN DOOR POLICY........................................................................................................................................... 50
4.12 WORK TRAVEL POLICY ..................................................................................................................................... 52
4.13 REWARDS AND RECOGNITION POLICY ............................................................................................................. 56
4.14 TRAINING AND DEVELOPMENT POLICY ........................................................................................................... 58
4.15 WORKPLACE VIOLENCE POLICY ....................................................................................................................... 62
4.16 EMPLOYEE CONFIDENTIALITY POLICY ............................................................................................................ 64
4.17 COMMUNICATIONS POLICY ............................................................................................................................... 66
4.18 ONBOARDING POLICY ........................................................................................................................................ 69
4.19 EQUAL OPPORTUNITY POLICY .......................................................................................................................... 73
4.20 EMPLOYEE CONFLICT OF INTEREST POLICY ................................................................................................... 75
CHAPTER 5 FINDINGS, SUGGESTIONS, IMPLICATIONS & CONCLUSION ...................................... 77
5.1 FINDINGS ............................................................................................................................................................ 78
5.2 SUGGESTIONS ..................................................................................................................................................... 79
5.3 IMPLICATIONS .................................................................................................................................................... 80
5.4 CONCLUSION ....................................................................................................................................................... 80
REFERENCES .................................................................................................................................................... 82
 LIST OF FIGURES

FIGURE 1: PRIVATE EQUITY FUND STRUCTURE ................................................................................................................. 7

FIGURE 2: TYPES OF PRIVATE EQUITY ................................................................................................................................ 8
FIGURE 3: TARGET INVESTMENT CRITERIA..................................................................................................................... 11

LIST OF TABLES

TABLE 1: PORTFOLIO COMPANIES OF ALDRICH CAPITAL PARTNERS ............................................................................ 10

TABLE 2: STAKEHOLDERS AND CHANNELS OF COMMUNICATION .................................................................................. 67

LIST OF FLOWCHARTS

FLOWCHART 1: DEALING WITH SEXUAL HARASSMENT COMPLAINT............................................................................ 25

FLOWCHART 2: DEALING WITH WHISTLE-BLOWING COMPLAINT………………………………………………………. ... 29
COMPANY CERTIFICATE

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 DECLARATION BY STUDENT

I, Velicheti Tulasi Bhavani hereby declare that I have carried out my Dissertation at Aldrich
Capital Partners, Hyderabad from 17.05.2021 to 25.06.2021 and have submitted the project
report titled “HR Policy Formulation and Administration” towards partial fulfilment of the
requirements for award of the degree of MBA in Human Resources at GITAM Institute of
Management, Visakhapatnam under the guidance of Dr. K V Sandhyavani and has not been
submitted to any other University/Institute for award of any degree/diploma.

Date: 08.10.2021 Signature

Place: Visakhapatnam (Velicheti Tulasi Bhavani)

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 CERTIFICATE BY GUIDE

This is to certify that the project report titled “HR Policy Formulation And
Administration” is an original work carried out by Velicheti Tulasi Bhavani (Regd.
No. 122023701003), under my guidance and supervision, towards partial fulfilment
of the requirements for award of the degree of MBA in Human Resources by GITAM
Institute of Management, GITAM (Deemed to be University), Visakhapatnam, during
academic year 2020-2022.

Date: Signature

Place: Visakhapatnam (Dr. K V Sandhyavani)

Associate Professor

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 ACKNOWLEDGEMENTS

I want to acknowledge the following distinguished persons who helped me complete my

project work successfully.

I'd like to offer my heartfelt gratitude to our institution, GITAM Institute of Management, for
providing a great platform to gain in-depth knowledge in the field of Human Resources,
allowing me to achieve my most desired ambition.

I also offer my sincere thanks to Dr. K V Sandhyavani, Associate Professor, GITAM Institute
of Management for her useful suggestions, help and support throughout.

It was a gratifying experience to be a part of such a growing organization, which spread its
roots from USA to India. I am grateful to Aldrich Capital Partners for providing me this
opportunity to complete my summer training project. I would like to thank Mr. Balaji Busani
and Mrs. Divya Sri for their constant support at all stages of the project.

I also express my gratitude to my devoted parents and faculty members who have directly or
indirectly assisted me in the successful completion of this project.

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 REPORT
CHAPTER 1 INTRODUCTION

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HR policies are described as a "written declaration of an organizational objective and intent
about topics that impact people in the organization" by the National Industrial Conference
Board in the United States. According to this viewpoint, policies are presented in broad and
long-term terms that originate from the highest authority's philosophy or beliefs.

In organizations, all employees and employers must perform their work duties according to
the policies and procedures. Human resource policies and procedures are necessary to
enhance well-being and development, as well as the reputation of the company. When human
resources adhere to the rules and procedures, they will encourage workplace discipline along
with being able to perform their job duties correctly. In terms of many fields such as clerical,
administration management, technical, and others, policies and procedures must be
considered.

Employees are expected to participate in training and development programs once an

organization has hired them. Human resources policies and practices are covered in these
programs. Human resources might gain a lot of benefits if they follow the policies and
procedures.

The primary goal of HR policies and procedures is to foster a work environment in which
employees may get assistance in improving their self-esteem and confidence. They can
develop behavioural characteristics that allow them to perform their job tasks according to
their employers' expectations. It is vital to ensure that employees carry out their job
obligations in line with company laws and policies, and that proper standards are recognised
in the workplace. When problems arise, whether from the perspective of employers or
employees, the HR manual is one of the most significant resources for finding solutions.

Human resources in various positions, such as managers, administrators, supervisors, and

others, examine the documentation regularly before developing orders and procedures. They
can obtain the information needed to apply organizational policies and procedures by
reviewing these documents efficiently. Policies should be reviewed regularly, perhaps every
three years or so, and revisions made if necessary to make them more meaningful and
effective. When management determines that the announced policy is no longer fulfilling its
intended purpose, it should be revised, amended, or discarded as the situation requires.

1.1 NEED/ SIGNIFICANCE OF THE STUDY

In examining the objective of HR Policies at Aldrich Capital Partners, the company mentioned
that the HR Policies were an important aspect of the management process for proper human
resource utilization.

This study is needed in fulfilment of the following at Aldrich Capital Partners through its HR
Policies:

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 • Maintain a high level of selectivity during recruitment in order to hire top performers
and encourage them to excel in their work.
• Provide orientation, induction and training in such a way that the employee is matched
to the work and a strong sense of corporate loyalty is instilled.
• Provide opportunities for individual improvement through lateral mobility,
reorientation, internal and external training, and self-development by self-motivation.
• Develop each individual so that they can reach their maximum capability in all areas
while also contributing to the fulfilment of both organizational and personal goals as
well.
• Form teams and promote teamwork as a key instrument in every activity.
• Recognize significant accomplishments on time and in a timely manner to keep the
employee morale and employee motivation high. Promotions and appraisal should be
fair and free from bias.
• Establish a strong system of rewards, incentives, and control that is equitable,
scientific, and objective.
• Contribute to the employees' health and well-being.

1.2 OBJECTIVES OF THE STUDY

1. To comprehend HR Policies from both a theoretical and practical standpoint.
2. To identify the need for Policy Formulation & Administration for an organization.
3. To create a company-wide HR Policy manual with detailed guidelines.
4. To recommend necessary solutions for overcoming problems, through these policies.

1.3 SCOPE OF THE STUDY

The project's main goal is to analyse and examine the organisation, and to create an HR Policy
handbook for it. For this:

• Identifying the policies (Statutory and Non statutory) required for the company.
• Create detailed policy guidelines for employees on each of the policies.
• Create process steps for the administration of each policy.

The report deals with HR policies relating to compensation management, sexual harassment,
training & development, workplace violence, among others in theoretical and practical
standpoint. Because the majority of the company's total performance is dependent on its
employees' performance, which is primarily dependent on the organization's HR Policies, this
project has a broad scope to benefit the firm in order to perform effectively in today's global
competitiveness.

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 1.4 RESEARCH METHODOLOGY
Data Collection Method:

In order to complete the report, the essential information has been gathered from two
sources:

1. Primary Sources of Information:

The primary data necessary for research was collected through meetings with the
responsible officers. Responsible officers include the HR Manager and the HR Trainer.
The meetings were conducted twice in a week to gather information about the
organization structure, number of employees, organizational relationships and
authority, work culture etc., to help in formulating the policies.

2. Secondary Sources of Information:

The secondary data is collected from the following sources:
• Websites of Aldrich Capital Partners and portfolios for information related to the
company such as office locations, general partners, portfolio companies,
partnership philosophy, funding and investment, target investment criteria etc.
• Internet to - identify the statutory and non-statutory HR policies for an
organization, study the Acts pertaining to the policies, refer to the Government
published handbooks on various policies, understand the need for the policy etc.
to assist in formulating the policies.

1.5 LIMITATIONS OF THE STUDY

• Time is the major constraint to formulate detailed company policies.

• Lack of complete information related to the company strategies.

• Policies are predefined actions and might not provide a scope for the employees to
bring creative initiations unless approved by proper authority.

• Policies facilitate decision making but shall not be treated as the final judgment
especially in situations like sexual harassment etc.

• Policies must be modified with any changes to the internal or external environment of
the business, such as changes in the law, etc.

• Problems arising out of unforeseen situations might not be covered under the policy
handbook.

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CHAPTER 2 INDUSTRY AND COMPANY PROFILE

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 2.1 INDUSTRY PROFILE
Private Equity (PE) refers to the capital invested in different companies which are not traded
publicly. In other words, private equity is ownership or interest in an unlisted private firm. It
is a type of investment money comes from individuals or firms of high-net-worth that enables
control over the company's operations.

The Private Equity industry consists of institutional investors like large PE firms funded by
accredited investors and pension funds. Every private equity firm comprises partners who
work together to raise funds, acquire portfolios, and manage these funds to yield favourable
returns within the set duration of time.

Most private equity firms invest in companies that are expected to grow and yield high profits
in the future. Private equity firms follow different fund strategies with various objectives.
These investments, however, provide ownership stake in the portfolio companies.

History Of Private Equity:

In 1901, the first Leveraged Buyout was made by J. P. Morgan with purchase of Carnegie Steel
Company for $480 million. The American Research and Development Corporation, and the J.
H. Whitney and Company were the private equity firms established in 1946. Since then, there
have been significant investments and mergers happening in private equity. Private equity
has become popular and attractive for many during the mid-1980s.

It was estimated that during the decade from 1979-1989, over $250 billion worth transactions
with more than 2000 leveraged buyouts happened.

The Kohlberg Kravis Roberts (KKR) $31.1 billion RJR Nabisco buyout deal was considered to
be the largest buyout during that time.

In recent times, private equity has been classified as the era before and after 2008. In the early
2000s, the industry has observed a boom in the investments as a result of US monetary policy,
all time low interest rates, and available surplus debt financing amount.

With the economic crisis during 2008, the industry had a dip and made the firms limit their
investments to smaller deals. Furthermore, the investment environment was completely
changed. The pattern continued until the rescission was lifted in 2012. All the private equity
firms gradually improved their investment strategies making their investments in huge
amounts. However, since 2008, fundraising has become the toughest part with equity firms
finding it difficult to generate Return on Investment (ROI) and investors having less capital to
invest in PE firms.

The industry has gained a positive opinion with the following reasons

1. More investments by the PE firms in reasonable and deserving companies.

2. Private Equity adds economic value to the shareholders and to the economy as a whole.

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 3. Through strategic investments, sustained company growth and increased employment
opportunities happened.

Private Equity Fund Structure:

Private equity firms are formed by passive investors known as Limited partners, who raise
funds. The general partner is responsible for investing, managing and planning every step
before, during and after the investment. The private equity firms usually invest their funds for
around ten years. Through the committed capital, the firm invests the funds in different
portfolios.

Figure 1: Private Equity Fund Structure

Source: Article from Street of Walls

Types of Private Equity Investments:

1. Venture Capital is the investment provided by the equity firms to the start-ups and
early-stage companies that are identified to have the potential to emerge as a high
profit firm.
2. Growth Capital is the funds offered by PE firms to the new companies or for the
relatively mature companies that need funds to restructure or expand their
operations. Growth capital is also known as Growth Equity.
3. Mezzanine financing is the equity firms' investments with annual return expectation
of around 15-20%. Mezzanine financing is expensive when compared to the other
types.

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 4. Leveraged Buyout (LBO) is the most common type of investment strategy used by PE
firms to acquire privately-held or publicly-held companies. LBO relies mostly on the
future cash flows of the portfolio to pay back the debt and its interest.
5. Distressed Buyout is the acquisition or purchase of a financially distressed company
in order to develop and divest the company for a higher value in the future. However,
the PE firms execute a series of meetings to analyse the survivability and company
value before the final judgment.

Figure 2: Types of Private Equity

Source: Article from Street of Walls

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 2.2 COMPANY PROFILE

About ACP

Aldrich Capital Partners is a private equity company founded by experienced operators and
investors in the year 2014. ACP invests majorly in fintech, healthcare IT, tech-enabled service
sectors in the United States.

ACP invests in privately held entrepreneur companies and helps those firms with resources,
network of relationships and knowledge base required in achieving their liquidity objectives.
“Being the entrepreneurs behind the entrepreneur” was the philosophy developed by ACP
when it was established.

With the key resources and personnel available, ACP invested over $1 Billion in technology in
the past 10 years. ACP invested in many entrepreneur firms and developed them to issue IPOs
and also receiving funds from several other large investing corporations.

Estimated Annual Revenue: $5M

Company size (Estimated Employees): 40

Location, Plants and Offices:

Headquarters

8614 Westwood Center Drive Suite # 710

Westwood Metro Tower Vienna,
VA 22182,
Vienna,
Virginia, US.

Other Locations
• 111 Main Street,
Suite F, Los Altos
CA 94022,
California, US

• 8-1-305/306,
4th Floor,
Anand Silicon Chip,
Shaik pet, ToliChowki,
Hyderabad, India

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General Partners
Mirza Baig - Managing Partner
Raheel Zia - Managing Partner

Portfolio Companies:

Some of the portfolio companies of Aldrich Capital Partners include eHealth Technologies,
Woundtech, Decisions, Lavu, Legal Advantage.

Table 1 Portfolio Companies of Aldrich Capital Partners

Source: Researcher

Funding & Investment

• In 2018, Aldrich Capital Partners, closed its debut institutional fund, at more
than $256m.
• Aldrich had recently invested $45M in ProcessMaker aiming for the growth of digital
automation.
• Aldrich’s recent investments also include $45M in TechFetch.
• Cofense, Imaging Advantage, and Syncsort were the 3 exits that ACP had till date.
• In April 2015, ACP invested $15 million in Lavu.
• In August 2016, ACP invested $40 million in Woundtech.
• In March 2019, ACP invested $41 million in eHealth Technologies.
• In April 2019, ACP invested $40 million in Decisions.

Partnership Philosophy

• Aldrich helps the portfolio companies grow to their fullest potential through additive
operational support style, allowing the existing team to build the business.
• ACP investments include Portfolio Finance, healthcare IT etc. with the company’s
presence in both Silicon Valley and DC metro areas.

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 • Aldrich has access to all the portfolio companies' departments, which allows them to
work towards the growth of the portfolio companies.
• Operational advisors of Aldrich are experienced and capable to take up the top level
roles such as Vice President, Chief Finance Officer, Chief Revenue Officer etc.
• Aldrich principals were successful in developing their own companies and have a clear
idea on making payrolls.
• ACP has been a part of successful IPOs, exits and building strategies to become
independent entrepreneur companies.

Target investment criteria

Figure 3 Target Investment Criteria

Source: Official Website of Aldrich Capital Partners

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CHAPTER 3 THEORETICAL FRAMEWORK

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 3.1 TOPIC RELATED CONTENTS
Need for Policies and a Policy Manual

Policy refers to written, verbal or implied guidance that establishes boundaries which decided
the general limits and direction of managerial actions.

Human resource policies and procedures are regarded as the foundation of every
organisation. These documents include all of the information regarding how employees must
be treated in the workplace, as well as help employees get a detailed understanding of the
organization's culture. Furthermore, these documents can educate employees on how
organizational policies and procedures contribute to advancement and well-being. After
compiling the HR policies and procedures manual, an employee handbook is created in
combination with the prevailing rules and procedures outlined in the previous document.

Employers do not have to establish policies for every unexpected event because that would
limit management's capacity to respond to individual employee needs or unique
circumstances. To encourage fair and consistent practises, policies should provide clear
norms and expectations.

Employees may also produce information in other ways, such as leaves, insurance plans, anti-
harassment regulations, various allowances, and so on. The employee handbook contains
information relating to the employees' employment processes. The importance of HR policies
and procedures is broadly acknowledged in providing critical information to employees to
carry out their job tasks in an appropriate way. They can also produce information on
employees, departments, organizational goals, and so on.

Policy Formulation

Policy formulation is the development of acceptable and effective courses of action to

tackle what is on the policy agenda.
Organizations formulate policies:
• If employees' behaviour indicates a lack of awareness of proper conduct or how to
handle certain situations, (for example, cell phone usage policy, attendance policy etc.,)
• If the organisation requires legal protection.
• If it is necessary to guarantee that employees are treated consistently and equitably
(e.g., benefits eligibility).
• If compliance with government rules and regulations is required.
• If there is a requirement for uniform standards and rules (e.g., progressive discipline).

Policies:

• Provide overall guidance to employees and partners as to what constitutes acceptable

behaviour by employees, to be in line with management's expectations and improve
employee accountability.

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 • Identify the key activities of an organization.
• State the responsibilities of every employee of the organization for an efficient and
effective operation of the company.
• Help maintain consistency even when the board members or the employees change.
• Help deal with any allegations raised against the company.
• Support the organization’s business strategies in achieving the end goals.

Just having a set of policies wouldn’t help, but it is important that they are incorporated into
the company’s culture to ensure appropriate behaviour.

Writing and formatting HR policies

HR policies are to be written in a simple language for easy understanding. If there is a need to
include terminology, then it is always advisable to include a glossary. Edition details and
publishing date of every policy should be mentioned for better review and referencing.
Responsible authorities and point of contact for clarifying queries or concerns related to the
policy should be mentioned clearly. Some policies are evaluated regularly. Others may be
reviewed in the case of legislative changes or on an ad hoc basis.

Communicating HR policies

Communicating the HR policies to all the organization's personnel is considered crucial to

make them understand the policies and expectations. HR policies can be communicated in
many ways based on the nature of policy and organization culture. Line managers are crucial
in bringing HR policies to life, and training is necessary to make sure that managers
understand the rules and can fairly execute them. Induction is essential for ensuring that new
employees are familiar with all of the company's policies and procedures.

Areas in which HR policies and procedures can be implemented

• Recruitment and selection

• Administration
• Workers’ compensation
• Training and development
• Performance appraisal
• Work management
• Transfer and promotion
• Integration and human relations
• Employment
• Labour welfare

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HR Policy Implementation

The implementation of an HR policy successfully depends much on the management.

Implementation must be consistent without any breach or failure to follow the policy. It is
common knowledge that in industrial organizations, management has both executive and
judicial authorities.

So, if there is a disagreement over any clause of the policy, it is preferable to entrust the topic
to a third party who may be an impartial man or body. As a result, trade union leaders will be
satisfied, and an atmosphere of harmony will be maintained.

It is insufficient to simply implement a policy in an impartial manner. It must also look to be

impartial. Suppose the management has to deviate from the declared policy in any matter due
to its unusual or emergent nature. In that case, it will be in the best fitness of things if the
management explains the background of the situation, the reasons for taking an exceptional
stance, and supports its position convincingly.

It will be even better if the leaders of the trade unions are likewise trusted. Furthermore,
policies should evolve over time to change the organization's objectives, targets, values, and
principles. Only after seeking the opinions, recommendations, and suggestions of employees'
representatives and well-known specialists in the field, could necessary modifications be
implemented.

To ensure that HR rules are implemented effectively, employees at all levels must comprehend
the policies just like how the management does. Conflicts arise due to differences in
interpretation. Making policies clear is a collective responsibility. Line managers have a
crucial role.

The personnel/HR manager must play a significant role in this regard. Factory managers and
direct supervisors are equally important. The frontline managers are in charge of policy
execution, and would face the brunt of the responsibility. HR professionals can offer advice,
but line managers are on the ground and must make personnel choices.

Hiring an HR Consultant

HR Consulting Firms can be hired by organisations to develop HR policies and procedures

manual as well as employee handbook. The HR consultant may assist the business in
developing new HR policies and procedures manual as well as employee handbook. He has
the option of revising certain sections of the papers or entirely revising the documents. It is
critical to double-check the documents for rules that have been changing over time and to
verify that the information provided is relevant to the company. The HR consultant's
responsibilities may include only one or both of these documents, the HR policies and
procedures manual and the employee handbook. Depending on the administration's

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requirements, the consultant might be asked to work on the entire document or only a few
policies.

An HR consultant must be qualified and trained to compile the HR policies and procedures
handbook. Organizational culture, legislative norms and regulations, and market trends are
some of the factors he should take into account. Individuals developing employee handbooks,
on the other hand, must take into account a variety of factors. These include the current
employee rules and regulations, organization's HR policies and procedures handbook,
industry norms and legal compliance. It is well known within companies that in order to carry
out one's job tasks properly, employees must adhere to the norms, values, and standards. They
may carry out their job tasks in a well-organized way when they adhere to the norms,
principles, and standards. When members are developing policies and procedures, they must
ensure that they are consistent with the organizational structure and objectives. This facet
must be well understood by all members.

Steps in Designing HR Policy

Statements of the organization's policies that are clear and consistent regarding all conditions
of employment, as well as methods for their equitable and fair implementation, should be
included in the development of HR Policies.

To attain this objective, the policies should be developed based on the following guidelines:

• Specific and clear, while remaining adaptable enough to adapt to changing situations.
• In adherence to all the applicable laws and regulations.
• Agreement among colleagues and reflection of a truthful and fair approach to all
employees.
• Determine the organization's goals and objectives for its HR department.
• Examine all the variables that will affect the company’s HR policy.
• Investigating the numerous options in each area where an HR policy statement is
required.
• Policy implementation is accomplished by the creation of a procedure to support the
policy.
• Examining the policy to identify the areas that need to be changed.
• Policy reassessment and revision on a regular basis to match the organization's current
needs.
• Gain a better knowledge of the corporate values and culture.
• Examine existing policies, including both unwritten and written policies as well.
• Examine influences from external sources because these policies are influenced by a
variety of laws, rules, and authorities.
• Determine whether there is a need for new policies or if the existing policies are
inadequate.

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 • Get feedback from managers on these policies and areas where they feel can be
improved.
• Find out what employees think about HR regulations, especially in terms of how
naturally equitable and fair they are, and how they are administered consistently and
fairly.
• Inquire about the union representatives’ opinions.
• Examine the information gathered in the earlier steps and draft the policies
accordingly.

The HR Director must consult, discuss, and agree on policies with management and union
representatives in order to be more effective.

Advantages of Formal Human Resource Policies

If the managers are incompetent and negligent, the policies will not be effective though they
are stringently designed. The company enjoys the fruitful benefits of policies only when
appropriately communicated, utilized, and implemented. Benefits of the policies can be
identified in several areas:

• Communication with managers and supervisors. Policies are helpful to managers,

supervisors, and other top-level management for decision-making regarding
recruitment, promotion, and other elements within the organization for the personnel
working in their team.

• Communication with employees. A policy that is designed and implemented will

conveys the expectations of the company from the employees during and at the
workplace. In addition, it also clarifies what employees can expect from the company.

• Time savings. A well-written and well-presented policy will always save the
management time that can be utilized for productive business activities to achieve the
company objectives and end goals.

• Curbing litigation. Having formal, fair, and transparent HR policies will secure the
organization from legal threats sued by dissatisfied or angry employees (existing or
former).

Essentials of an HR Policy Statement

HR policies aid in the achievement of corporate goals and guarantee that employees are
treated consistently, reducing the risk of favouritism and discrimination. This guarantees that
an organization's human resources are used effectively.

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HR policies must reflect the senior management's philosophy and beliefs. It should be clear
and understandable, with no room for ambiguity. The policy statement should guarantee that
HR goals are in line with the company's goals.

• It must have long-term implications as well as fulfill present and future requirements.

• It should be created with senior management's active participation.

• A committee of senior executives led by the chief executive should be in charge of

policy development.

• Policy formulation should be done with caution.

• HR policies must be authorized by the organization's highest authority, the Board of

Directors.

• The policy statement should encompass all aspects of human resource management.

• It must be written; else, it will be neglected. Writing ensures clarity in application, gives
a base to build on, and can help appeal in case of disagreements with the policies. It's
also a great method to train new managers and employees.

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3.2 REVIEW OF LITERATURE
1. According to Oliveira and Oliveira (2011, p. 657), HR management (HRM) is defined as
an integrated set of planned and intended strategies, practices, and policies for
managing human resources in the company; and defined HRM practices as activities
that are successfully executed and encountered by employees and can be objectively
verified. The writers highlight the importance of integrating HR management methods
with the organization's internal and external uncertainties.
2. Lepaket et al. (2006) challenge research on the subject in terms of the diversity of
worldwide nomenclature and attempt to clarify the words. HR practises are the most
basic level of analysis and refer to isolated actions chosen by firms to achieve certain
goals, such as behavioural interviews, 360o evaluation, and employee
socialization, among others. HR policies represent an employee-focused program at
the second level of analysis and should influence the choice of HR Practices. An HR
System functions at a higher level, reflecting a multi-policy program that should be
consistent internally in order to reach some global objectives.
3. Dessler (2002) outlined the practices required to manage people at work, including
hiring, training, evaluation, remuneration, and providing a good and secure
environment for the employees.
4. According to Demo (2012), human resource policies and practices must contribute to
people's overall well-being, helping them to achieve higher personal and professional
fulfilment.
5. International research has linked policies and practices in human resources with
successful projects (KHAN; RASHEED, 2015); intention to remain in the organization,
absenteeism, organizational citizenship behaviours and affective commitment
(KEHOE; WRIGHT, 2013); engagement, organizational citizenship behaviours and
intentions to leave the organization (ALFES et al., 2013).
6. Demo (2012) defines recruitment and selection policies and practices as a proposal to
seek out employees, encourage them to apply, and choose them to align the person's
competencies with the characteristics and expectations of the organization. The
training and development policy comprises the provision of systematic skill
acquisition to employees as well as the support of continuous learning and knowledge
production.
7. Demo (2012) grouped policies focusing on safety and benefits into a single dimension
and named it the working conditions policy. According to the author, this policy is a
well-articulated organisational proposal to provide workers with appropriate working
conditions in terms of technology, safety, benefits, and health. The performance and
competence evaluation policy entails evaluating workers' performance and skills and
making judgments on promotions, career planning, and growth.

Page | 19
CHAPTER 4 ANALYSIS

Page | 20
 4.1 SEXUAL HARASSMENT POLICY

Objective:

The objective of the sexual harassment policy is to bring the definition of workplace sexual
harassment, its prohibition, impose appropriate disciplinary actions on its violation, and
include protocols for filing complaints as well as investigating sexual harassment allegations.

Scope:

This policy applies to every employee of the company at all locations.

For any act of sexual assault, all employees, including superiors, will face punishment, up to
and including termination.
This policy applies to all work‐related activities, both within and outside the workplace.

Definition:

“Sexual harassment” means any sexual advances or requests for sexual favours or other
physical or verbal, or non-verbal conduct of a sexual nature.
Although it is impossible to list all instances of sexual assault, there are a few below-
• Unwelcome staring or leering, whistling or brushing up against the body in a
suggestive manner.
• Use of suggestive comments, jokes, gossip, or questions or statements regarding one’s
sex life.
• Visiting sexually explicit internet sites.
• Displaying sexually suggestive objects, posters, cartoons, magazines, or screen savers.
• Sending obscene emails or texts.
• Repeated and unwelcomed requests for sex or dating.
• Inappropriate behaviour that might be considered criminal, such as indecent exposure,
stalking, or erotic messages.
However, behaviour motivated by mutual desire, affection, or respect is not considered sexual
harassment.

Policy Statement:

Aldrich is committed to ensuring a safe workplace for all of its employees and will not tolerate
any form of sexual harassment.
A violation of this policy will result in disciplinary action, which may even include dismissal
from employment. Any employee who feels sexually harassed is highly encouraged to report
it immediately to the organization. All sexual harassment complaints will be dealt seriously
with sensitivity and confidence.
These reports shall be entirely confidential until a formal or informal lawsuit gets filed against
a specific individual, at which point the law requires the person to be informed.

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Responsible Authority:
The ICC (Internal Complaints Committee) shall handle all sexual harassment allegations. The
ICC shall consist of four members:
• A woman presiding officer in a high position in the company.
• A woman member working towards women’s rights.
• Any employee in the field of social work with legal knowledge.
• Any member external to the organization with knowledge about sexual harassment
issues.

Complaint Procedure:

The employee, when unsure whether someone’s conduct is in breach of the Sexual
Harassment Policy or if assistance is needed to characterize the complaint, should contact the
HR Manager.

If an employee faces harassment:

• The victim may sometimes be able to handle the situation oneself by informing the
perpetrator that it is offensive or hurtful. People may make mistakes being unaware of
the consequences, which would allow them to alter their behaviour.
• Suppose this isn’t possible or inappropriate to resolve the complaint by oneself. In that
case, the victim can explain the problem to the Human Resources Manager and lodge a
formal complaint with the ICC. In the HR Manager’s absence, the victim can contact the
Chief Human Resources Officer (CHRO). If the complaint is against the HR manager, the
CHRO will act in their place.
• Should one choose not to contact the HR manager for any reason, one can reach out to
the women members of the ICC for assistance in resolving specific issues.

How to deal with the complaint?

• Employees must provide a written statement regarding the misconduct to the HR

manager.
• The HR Manager shall lodge a formal complaint with the Internal Complaints
Committee to start the investigation.
• All parties involved are to be notified on receiving the complaint and that there would
be an investigation further.
• At any meetings, all parties have the right to be accompanied.
• A fair and comprehensive investigation is to be undertaken immediately. This should
be done by the member/members of ICC who have no ties to either side, if possible.
• If necessary, and if a prima facie case exists, the ICC shall send the complaint to the
police within seven days for registration under Section 509 of the Indian Penal Code.
• To resolve conflicts, the ICC needs to take the required steps as outlined in the Sexual
Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act

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 2013, Code of Conduct Procedure 1973, IPC 1860, and other acts or regulations
applicable during the time are taken.
• All parties must know the outcome of the investigation, and it shall be communicated
in writing.
• The investigation shall be completed within three months of the lodgement. Upon
completing the investigation, the outcome shall be communicated to the HR manager
or employer, and they are mandated to take disciplinary action within two months.

Disciplinary/ Corrective Action Measures:

If the accused is found guilty, necessary disciplinary or corrective action shall be taken against
him or her.
These may include
• Formal apology
• Counselling
• Transfer
• Civil damages or criminal penalties
• Withholding promotion
• Suspension or even dismissal
• The victim may also seek any legal recourse against the guilty, for, e.g., transfer of the
guilty.

Relief to victims:

• Monetary compensation
• Leave for a specific duration.
• Transfer to a department where the victim feels safe to work.

Confidentiality:

All information received shall be kept confidential. Any person, including witnesses who
violates confidentiality shall be subject to disciplinary action.

Protection to Victim:

While dealing with the complaints, any unethical conduct by the accused towards the
complainant should be immediately brought to the HR manager’s attention. Disciplinary
action shall be taken against the genuine complaints. In case of abuse of this procedure, they
shall be subject to disciplinary action.

Documentation:

The ICC shall keep written records of all the proceedings. If the complaint goes to the tribunal,
it needs to be shown that all reasonable steps have been taken to handle the complaint and to
stop further harassment.

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Dissemination of the policy:

The policy shall be circulated amongst all the Company employees. A copy of the policy shall
be posted on the website.

Complaints made with malicious intent:

Suppose it is proved on an investigation that the complaint was made with false intentions,
with a motive of spoiling one’s image and against personal grudges. In such a case, strict action
shall be taken against the complainant. And the victim, in this case, may seek legal
compensation under the law in enforcement.

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 Was the
issue be
solved by
oneself?

NO

Victim must submit a written

statement about the misconduct to
the authority concerned

Notify all the parties involved regarding

the complaint and for any further
meetings

Was the
Gather information
complaint
and verify the
genuine?
genuineness of the
NO
complaint.

YES

Forward to the ICC committee to Send written

investigate the case and submit the communication to all
report within 3 months from date of parties regarding the
complaint lodged. outcome of
investigation.

Case dismissed and NO Concern

accused to be proved
declared as innocent true.

YES

Take disciplinary action against the

Process Ends
accused if the misconduct is proven.

Flowchart 1 Dealing with Sexual Harassment Complaint

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 4.2 WHISTLE-BLOWER POLICY

Objectives:
This policy aims to provide a framework to promote responsible whistle-blowing. It encourages
employees or other stakeholders to report instances of unethical or illegal behaviour, fraud, or
violations of the company’s code of conduct to management for corrective action to be taken
immediately. It also aims to -

• Protect the organization from any harm resulting when employees violate internal
mechanisms or procedures.
• Provide necessary safeguards to protect employees from retaliation or victimization.
• Promote ethical conduct.
Scope:

This policy applies to employees and all other stakeholders of the company. It also applies to
the friends and family members of these people.

Definition:

According to this policy, a “whistle-blower” is an employee or a stakeholder who reports any

unethical behaviour or instances if they encounter any of them without fear.
Such unethical instances may include:
• Any Harassment or discrimination
• Breach of contracts or privacy
• Misuse of Authority
• Misrepresentation of company data
• Irresponsible towards public health and safety
• Misrepresentation of financial records
• Fraud or illegal activities like corruption
• Sharing of confidential information
• Misuse of company assets
• Non-compliance with the code of conduct.

Policy Statement:

According to this policy, every employee is responsible to raise their voice against any
wrongdoings in the company, as per the procedure outlined in the policy.
Any illegal activities kept undisclosed after knowing about them will be considered unethical
behaviour. There should be no retaliation against the whistle-blowing individual.

Responsible Authority:

The Whistle-blower Committee shall carry a review of the functioning of the Whistle-blower
mechanism. The Whistle-blower Committee shall consist of four members -

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 • Chief Human Resources Officer (CHRO)
• Company Secretary
• Head HR
• Audit Committee Member

If any concern:

• The whistle-blower can either notify about the complaint in writing or directly
approach any whistle-blower committee member, who shall act as the ombudsperson.
• The ombudsperson shall investigate the complaint received for any breach.
• The ombudsperson will respond as early as possible within three days.
• Whistle-blowers can choose whether or not to reveal their identities. The complaint
will be dealt with seriously, even if the whistle-blower reveals his identity or not.
• The policy recommends that the whistle-blower reveal their identity for a more
thorough investigation. In either case, the identity of the whistle-blower is kept
confidential.
• In the absence of the HR Manager, can also contact the HR Head or Legal department.

Dealing with the complaint:

The Whistle-blowing Committee:

1. Will contact the necessary person to obtain the information needed to conduct further
investigation.
2. Information secrecy is maintained to protect the integrity of the whistle-blowing process
and investigation.
3. Ombudsperson is responsible for updating the Board of Directors with the status and
findings of the investigation. The final report must include all necessary details and
documentation.
Disciplinary Action Measures:

If the accused is found guilty, necessary disciplinary action shall be taken against him or her.
These may include -
• Transfer
• Civil damages or criminal penalties
• Withholding promotion
• Suspension or even dismissal

Act dealing with this policy:

As outlined under Section 177(9) of the Companies Act, 2013 read with Rule 7 of the
Companies Rules, 2014- every company must have a “Whistle-Blower Policy” to provide a
window for its employees and directors to voice their concerns without fear or report
instances of any unethical or unaccepted behaviour to management.

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Fake complaints:

Any false allegations made against any employee by other employees or stakeholders will
result in strict disciplinary action following the measures outlined in the whistle-blowing
policy.

Documentation:

According to the whistle-blowing policy and procedure, it is the responsibility of the

ombudsperson to maintain all documents related to the whistle-blower’s complaint. All
necessary information is kept on file for reporting purposes and is maintained for an eight-
year period.

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 Whistle-blower raises
concern with the
ombudsperson

Ombudsperson to examine
the complaint logged

Check for the facts of

allegation – Primary
investigation for further
escalation

Allegation dismissed
NO Allegation
with proper counseling
proven
to the reporter and
valid.
process ends.

YES

Ombudsperson/Whistle-
blowing Committee shall
investigate through documents
& interviews with subject

NO
Is the Allegation dismissed and
concern subject declared innocent
proved?

YES

Necessary disciplinary action Ombudsperson will notify

against the subject along the whistle-blower and
with the measures to Board of Directors with
prevent. the findings of the case.

Process Ends

Flowchart 2 Dealing with Whistle-Blowing Complaint

Page | 29
 4.3 WORK FROM HOME POLICY

Objective:

Aldrich is committed to offering flexible work practices, maintaining a healthy work-life

balance, and improve employee productivity. The flexibility of remote work can be mutually
beneficial for employers and employees in terms of reduced costs, reduced absenteeism,
employee retention, etc.
This policy outlines the policy guidelines and eligibility requirements to work from home.

Scope:

This policy applies to all employees of Aldrich, whose job duties permit them to work from
home. Those whose work includes direct on-site work are not eligible to work remotely under
this policy. The employee needs to be proven trustworthy and disciplined to work from home.
Employees can work from home either temporarily, full time, or occasionally.

Definitions:

“Work from home” or “telecommuting” or “remote work” simply refers to any work that does
not require traveling to an office.
Employees can request work from home for various reasons like medical reasons, parenting,
unfavourable weather conditions, or long distances to work.

Policy statement:

According to this policy, all the work from home employees are expected to maintain normal
productivity and performance.
While flexibility is permitted, the employee must agree to work as per the business hours or
requirements. They are not allowed to work for anyone other than Aldrich or engage in non-
work-related activities during their working hours without prior approval.
Team members should communicate and cooperate with their leader about their work
patterns, meet deadlines, maintain high-quality standards, and submit daily reports.

Guidelines:

• Security

As per this policy, the confidentiality of company data and information should be of significant
concern. Any breaches in information security protocols will lead to disciplinary action.
Employees will have to use the VPN provided only during work hours for secure connections.

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 • Compensation

There would be no effect on salaries for employees working from home. Remote employees
remain entitled to increments, promotions, and other programs. The company shall also repay
for any electricity or internet costs by following the protocol for reimbursements.

• Rules and other company policies

While working remotely, all company policies continue to apply, as usual. Any policy
violations will result in disciplinary action.

• Communication

Employees have to be available online for 9.5 hours, Monday to Friday. They need to check in
with their team leaders once a day at least.
Employees are expected to reply to any message as soon as possible. Any meeting timings are
to be scheduled upon agreement between the manager and the employee.

• Insurance and liability

Remote employees are still entitled to full corporate benefits, such as health insurance and
worker’s compensation.
The company insurance covers only company-owned equipment that is a loan to the
employee.
Employees need to work from a secure location to ensure maximum safety. Only during
working hours and in the pre-defined workspace is the firm liable for any injuries to the
employee.

Work from Home Employee Request Form:

The employee needs to read the terms and conditions below, fill in the work from home
employee request form, and return it to the department head/manager/team leader.

Employee Details:
Name: ________________
Designation: ________________
Department: ________________
Manager/Team Leader: ________________

Work from home Location:

Address: ________________
Contact Number: ________________
Workspace: ________________

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Equipment:
Request: ________________

Declaration
I have read, understood, and accept all the terms and conditions mentioned in this document.
I understand and agree with all of the company’s expectations and responsibilities presented
in this document.

Signature of the Employee: ________________

Date: ___________________________
Signature of the Manager/Team Leader: ________________
Date: ___________________________

Page | 32
 4.4 CORPORATE SOCIAL RESPONSIBILITY POLICY

Objective:

Aldrich works to promote and improve the company’s brand image that generates value
among interest groups (stakeholders, public, and environment) in the context of a socially
responsible culture.
The policy intends to:
• Formulate and abide by the rules and regulations deemed under the Acts related to
CSR.
• Design and develop projects that contribute to societal welfare.
• Take necessary measures to reduce the usage of natural resources and benefit the
community at large.
• Understand the societal impact caused by the company.
• Help the company to be accountable to all the stakeholders and the public.

Scope:

Formulation of this policy involves all the aspects mentioned under the Act’s provisions and
applies to any CSR initiatives and activities organized by the company.

Definition:

“Corporate Social Responsibility (CSR)” is a business regulation model that helps a company
emerge as socially responsible and contribute to societal goals. CSR is also known as corporate
citizenship.
It refers to the policies and steps undertaken by the corporate entities to enhance and
influence society for a better community and living.
The Companies Act 2013 defines “CSR as the process by which an organization thinks about
and evolves its relationships with stakeholders for the common good and demonstrates its
commitment in this regard by adoption of appropriate business processes and strategies.”
At Aldrich, we see CSR as the commitment of businesses to manage and improve the economic,
environmental, and social implications of our activities at local, regional, and global levels by
undertaking appropriate and effective initiatives.

CSR Activities:

The company carries out CSR activities, with a preference of undertaking them around where
the company operates.
Aldrich performs several activities aiming to-
• Eradicate hunger, poverty, and malnutrition.
• Promote education, including special education.
• Promote healthcare and sanitation.
• Promote gender equality and empower women.

Page | 33
 • Protection of national heritage, arts, and culture.
• Develop eco-friendly systems and ensure environmental sustainability.
• Contribute to various relief funds.
• Development of rural areas and promote rural sports.
• and other activities as may be specified under the Act or the CSR Rules from time to
time.

CSR Policy Statement:

Our company is committed to creating shared and sustainable value for all its stakeholders.
Our company is very determined for organizational and societal growth with social
responsibility and is always happy to partner with various stakeholders for sustainable and
consistent growth.
This sustainable growth and commitment of the company are possible with stringent CSR
policies and measures, thereby building trust in our stakeholders.

Act dealing with this policy:

The provisions relating to CSR are incorporated under Section 135 of Companies Act, 2013
(the Act) read with Schedule VII to the Act and the Companies (Corporate Social Responsibility
Policy) Rules, 2014 (the Rules) and amendments there under time to time along with General
Circular No. 21/2014 w.r.t. Clarification with regard to provisions of Corporate Social
Responsibility under section 135 of the Companies Act, 2013.

CSR Committee (Responsible Authority):

The CSR Committee consists of the Board of Directors who are responsible to meet, discuss,
and review the company’s CSR activities and policy.
According to the constitution of the CSR Committee, a minimum of 2 - 3 directors are essential
to form a CSR Committee.
• Committee meetings are conducted and attended by the Board of Directors in any
acceptable means under the Act’s provisions.
• Committee members have the privilege to send the meeting invitations to internal
stakeholders, as required.
• The Company Secretary, if any, shall serve as Secretary to the Committee.

Functions of CSR Committee:

• Formulate the CSR Policy under the Act’s provisions and declare the activities which
are to be performed by the company in compliance with the Act.
• Recommend the CSR events and projects to the Board, for approval.
• Review and propose the incurring expenditure (expected) for the company to
undertake the proposed activities.
• Periodic monitoring of the company’s CSR policy.

Page | 34
 • Review the CSR events and update progress to the Board of Directors at regular
intervals of time.

Planning:

Employee Engagement and Direct Project Funding are two key elements that are essential for
planning and implementing CSR projects. For any CSR project of a notable duration (minimum
of 1 yr.), the company shall sponsor the principal amount as Direct Project Funding.
• At the beginning of every year, the list of identified projects, along with the budget and
implementation steps, shall be submitted to the Committee for review and approval.
• A detailed plan consisting of project objectives, workforce involved, duration of the
project, and outcomes of the project shall be drafted for Committee discussion before
implementing the project.

Funding:

• The company for annual CSR initiatives shall keep aside a sum of at least 2% of the
average Net Profits of the previous three financial years. Any unutilized amount can be
carried forward and used in the following year.
• The funds allotted shall be dispersed to a project when required only after approved
by the Committee.
• All the transactions of these activities should be maintained for reference and further
purposes.
• CSR expenditures will be taxed in compliance with the Income Tax Act of 1961, as
amended by the Central Board of Direct Taxes.

Implementation:

• Implementation of CSR projects involves more significant public relations with local
bodies and communities to build a shared value and sustainable growth.
• Implementation of CSR projects may also demand the participation of its internal
stakeholders in engaging and co-operating with the local bodies/ Trusts/ NGOs/ NPOs.
• CSR Committee Board is responsible for the execution and implementation of the
projects throughout their duration.
• As part of CSR, the company can also collaborate with other corporates for
implementations, if required.

Review and Reporting:

• The CSR Committee plays a vital role during the entire CSR project lifecycle, starting
from approval to the project’s final implementation and end.
• CSR Committee shall review the implementation and post-implementation activities of
the project and notify the status to the Board of Directors at a regular interval of time.

Page | 35
 • Information related to initiatives and progress of CSR projects during that Financial
Year shall be posted to the Directors’ Report and published on the company’s official
web portal and social media platforms, as deemed under provisions of the Act for the
easy access to the company’s stakeholders and public.

Amendments to the Policy:

Amendments to the company’s CSR policy can be performed by the Board of Directors directly
or on the CSR Committee’s recommendations. Amendments to the policy are subjected to,
when there is:
1. Revision to the Act corresponding to the policy.
2. Scope of development in the entire procedure, if any found.
3. Any recommendation issued by authorities concerned.

Page | 36
 4.5 INCREMENTS POLICY

Objectives:

The objective of increment policy helps in deciding the increment criteria for each employee
of the organization. The policy explains the performance-based refitment of the employee’s
salary component that can be practically implemented and acceptable.

Scope:

The policy applies to all the eligible employees of the organization in reaching relevant pay
scales through salary increments.

Eligibility Criteria:

• All the employees who have completed more than six months are eligible for salary
increment, which is effective next FY.
• All the employees of ___ grade is eligible for the increment effective the next FY.

Increment Cycle:

Increment Cycle generally follows the Financial Year (in India, 1st April of the present year to
31st March succeeding year). However, for few exceptional cases where the Increment cycle
shall be adjusted to a later date, given the company’s performance and positioning.

Grant and Payment of Increments:

Increment policy is not a right to an employee, as it depends on employee merit and adherence
to the employment contract’s terms and conditions. Below are to be considered for the
payment of increments:
• Notification regarding increments shall be sent to all the concerned heads for planning
and implementing the increments in their respective division.
• Any issues or concerns from employees are to be addressed by a head nominated
through a meeting and ensure a positive outcome.
• The respective HR Manager has to be approached for any discrepancies in paying the
increments.

Process/ Determination of Employee Increment:

Arrange meetings with the employees for discussion and make proper decisions before
proposing increments.

Page | 37
For Existing Employees:

➢ The respective department heads shall host individual meetings with all the eligible
employees for the increment before forwarding it to increment decisions.
➢ Abiding by the company’s policies, the department head will recommend and decide on
whether to provide increment on any of the following basis-
- Based on annual employee performance
- Through promotions, incentives, bonuses, etc.
- Refitment of pay level in consideration of performance with others in the range.

For New Hires:

➢ For new hires (experienced professionals), the increment policy will comply with the
compensation and benefits policies.
➢ After the negotiation during the interview process, increment offered to the new hires
(experienced professionals) shall be declared in compliance with the company’s rules and
regulations.

• HR Head reserves the right to approve and declare the percentage of hike in the salary
components to all eligible employees.
• The increments after approval by the HR Head shall be announced to the employees
along with the effective dates.

Page | 38
 4.6 PROMOTIONS POLICY

Objective:

Aldrich’s promotion policy outlines the procedure and guidelines for promoting employees
within the organization. It aims to -
• Encourage the development of staff within the organization.
• Ensure fairness and transparency in the employee movement.
• Utilize talent within the organization for filling vacancies.
• Introduce guidelines for succession planning of critical positions.

Scope:

The promotion policy applies to all the permanent employees eligible for the promotion.

Definition:

“Promotion is the advancement of an employee to a better job in terms of greater

responsibilities, more prestige or status, greater skill and especially, increased rate of pay or
salary.” —Pigors and Myers.
Employees may be promoted within the same department or branch or to another.

Policy Highlights:

A promotion policy demonstrates management’s willingness to recognize and reward

outstanding performances. It encourages employees to strive for advancements within the
company.
According to this policy, promotions in the organization are based on employee performance
and workplace conduct.
Acceptable criteria for promotion include:
• Qualify the requirements of the new role.
• Experience or longevity in the job.
• Good performance in the latest review cycles.
• Personal motivation and desire to accept a more challenging position.
All the above criteria can be measured and verified and are reasonably objective from the
company’s and employee’s perspectives.

Promotion shouldn’t take place based on imaginary criteria. Proper documentation is

necessary to back up judgments.
According to this policy, promotions based on the below criteria shall not be tolerated.
• Discrimination of any kind
• Nepotism
• Bribery, Blackmail, or any form of inducement.
• Subjective opinions which are unsupported by performance metrics.
• Lobbying, directly or indirectly.

Page | 39
 • Favouritism
• Fraternization

Eligibility Criteria:

The following are considered the eligibility criteria for promotion when
• The employee is not facing any disciplinary action or is on a performance improvement
plan.
• The employee has completed the probation period.
• The employee’s appraiser has recommended a grade change.
• Employee appraisal ratings are improving continuously.
• Employees in people management positions who are graduates or, better yet,
postgraduates may be considered.
• Aside from the performance standards, the individual must hold a good record in the
following areas: proper behaviour, willingness to take tasks, good attendance, honesty,
and sincerity.

Process for promotions:

Aldrich shall establish a promotion review process every year-end. Managers may consider
moving individuals to a higher-level role or one that better suits their abilities and objectives
throughout this process. If a business requirement emerges, unexpected promotions may
occur.

Managers shall follow the process:

• Discuss with employees about their career goals and create career plans for their team
members.
• If applicable, look for possibilities to promote one or more team members.
• Discuss with HR Head to get approval for promotion and inquire about the new salary
range and benefits.
• Meet with the employee to know his opinion on this career move.
• Managers should maintain proper documentation of the entire process in order to
support their decisions, which would also help any discrepancies or objections from
other employees.

Exception:

• The CEO and HR Head must approve any exceptions to the policy.
• HR has the right to change or amend the policy at any moment without prior notice.

Page | 40
 4.7 COMPENSATION AND BENEFITS POLICY

Objective:

The objective of the policy is to build rules and guidelines for employee compensation.

Scope:

This policy applies to all the employees of Aldrich Capital Partners.

Definition:

“Compensation and Benefits” refer to the entire salary range and other monetary and non-
monetary benefits that employees get from the company during their employment tenure.
Compensation in the Employment Cost Index comprises the employer’s salary costs and the
cost of providing employee benefits.

Compensation Structure:

Compensation is offered as a composition of various methods to achieve the organization’s

goal of attracting, rewarding, and retaining people, as seen below.
• Annual Guaranteed Pay
• Variable Pay
• Long Term Pay
• Non-Cash Benefits

Annual Guaranteed Pay (AGP):

Annual Guaranteed Pay consists of the basic wage and any optional allowances that may be
provided to employees who are eligible.
• These optional allowances include- conveyance allowance, domiciliary medical
allowance, house rent allowance, medical allowance, leave travel allowance and
others.
• It also includes retirement benefits such as the Employer’s contribution to the
Provident Fund and Gratuity Fund.
• To the greatest extent possible, the basic salary is defined as a fixed proportion of the
AGP, ensuring that the compensation structure is managed prudently.
The company will make every effort to ensure that the following are reflected in the annual
guaranteed pay: Job, Market Pay Position, Grade, Experience, and Performance.

Variable Pay:

Variable Pay is determined by the organisation and individual performance. It is available in

the form of bonuses or incentives, depending on performance. The design of the variable is

Page | 41
linked to an individual employee's performance rating, which is computed by comparing
performance to a set of predetermined objectives. Individual performance objectives are
used to calculate incentive payouts, which are set from time to time.

Long Term Pay:

Employee stock options or deferred cash schemes may be used to administer long-term
pays.
The following are the benefits of long-term pay:
• Motivates employees
• Allows employees to contribute to the company’s long-term growth and financial
success
• Acts as a means of retaining employees by allowing them to become active
stakeholders in the company

Non-cash Benefits:

Employees receive these benefits as a supplement to their pay and to meet their non-
financial and other needs. These are related to their position within the company.
• Hospitalisation insurance for employees and dependents
• Club membership
• Company car
• Company assets for home office
• Personal accident insurance for employees

Disbursement of Salaries

Employee salaries will be paid on (date) of each month. If the usual payment date falls on a
Sunday or a holiday, the company shall endeavour to pay the salaries on the previous working
day; otherwise, the payments shall be disbursed on the first working day after the holiday.

Grievance procedure

In cases of violation of the policy, the employee can raise the issue to the manager and
proceed according to the local grievance procedure.

Page | 42
 4.8 EMPLOYEE CELL PHONE POLICY

Objective:

The employee cell phone usage policy outlines the guidelines for using cell phones at work.
This policy aims to enable all the employees to make the most out of the benefits of cell phones
while minimizing frustrations, distractions, and accidents, that occur due to improper usage.

Scope:

This policy applies to all the employees of Aldrich Capital Partners.

Policy Guidelines

We understand that cell phones can be handy tools for our employees. However, excessive
usage of smartphones during work hours may:
• Disturb co-workers with phone calls.
• Distract employees from their work.
• Cause accidents or problems due to usage in restricted areas.
• Create security problems by making misuse of personal devices or the company’s
internet connection.
Aldrich expects all employees to utilize cell phones responsibly during work hours.

Employees are advised to:

1. Use cell phones for business purposes only.

2. Use cell phones for only a few minutes per day to talk, text, and browse the internet.
3. Turn cell phones off or put them to silent or vibrate mode during meetings,
conferences, and other situations when incoming calls might be distracting.

Non-Permissible Activities:

Employees are not allowed to:

• Play games on the phone during work hours.
• Use their phones while driving for any reason.
• Use the camera or microphone on their cell phone to record sensitive information.
• Use their phones in areas where it is prohibited to do so (e.g., meetings.)
• Speak on their phones for personal reasons and disturb colleagues.
• Download or upload inappropriate, illegal, or obscene content over the company’s
internet connection or on any device.

Permissible Activities:

Employees are allowed to:

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 • Make phone calls on business purpose.
• Check Important communications
• Make use of productivity software.
• Make short personal calls, but should be away from co-worker’s workspaces.
• Use phones and other electronic devices during break time.
• Use phones and other electronic devices during the lunch hour.
• Use phones and other devices in a stationary vehicle.

Disciplinary Consequences

Aldrich reserves the right to monitor employees’ cellular device usage for improper or
excessive use. The employee's permission to use a mobile phone will be revoked if his or her
usage of mobile causes a reduction in productivity or interferes with normal business
operations.
Employees are subject to severe disciplinary action (including termination) if they:
• Break the company’s confidentiality policy.
• Create a security breach.
• Use a mobile device carelessly and cause an accident.

Employee Acknowledgement

I have read, understood, and agree to follow all the terms of the employee cell phone usage
policy.

Employee Signature _____________________________________________________

Date _____________________________

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 4.9 EMPLOYEE SOCIAL MEDIA POLICY

Objective:

Our company’s social media policy establishes a framework for using social media.
This policy offers recommendations on how to avoid problems that may develop due to
negligent usage of social media in the workplace.

Definition:

People use “social media” to share knowledge, ideas, and experiences to learn, grow, and have
fun. Whether one is working on a corporate account or an own account, should stay productive
and avoid causing any harm to the company.

Scope:

This policy applies to all the employees of Aldrich Capital Partners.

Also, the term “social media” here refer to a wide range of online communities, including blogs,
social networks, chat rooms, and forums, rather than just platforms like Facebook and Twitter.

Principles:

The principles outlined below apply to professional use of social media on behalf of Aldrich
and personal use of social media when referencing Aldrich:
• When using social media in reference to Aldrich, employees must be aware of and
follow all the company’s policies and Code of Conduct.
• Employees should be aware that Aldrich may monitor the content posted by them on
social media and should use their best judgment when posting content on social media.
• Employees should be conscious of the impact that their actions may have on their own
image and the image of the company.
• Not just limited to, but some particular examples of prohibited social media behaviour
include sharing defamatory, pornographic, proprietary, harassing opinions, materials,
or photographs which create a toxic work environment.
• Any information considered confidential or non-public should not be published,
posted, or released by the employees. If questions exist as to what is considered
confidential, the Department of Human Resources should be consulted.
• When employees face antagonistic social media situations, employees should
disengage from that dialogue in a friendly manner and seek a supervisor’s advice.
• Online content such as social media networks, blogs, among others may attract media
attention or raise questions of a legal nature. Any such inquiries should be referred to
Aldrich’s authorized spokespersons.

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 • Social media usage for business purposes is permitted in the Aldrich computer
systems. Personal blogging or personal use of social media is strictly not encouraged
and may result in disciplinary action.
• Before referring to or posting content related to any current or former employees,
suppliers, or members, employees should obtain the appropriate permissions.
• Employees should also receive appropriate permission to use the trademarks,
copyrighted material, or other intellectual property of third parties.
• In the case of publishing content related to work after-hours, employees should use the
disclaimer, for example: “The posts on this site are my own, and Aldrich’s positions,
policies, and opinions cannot be expressed.”
• If possible, employees should keep social media accounts associated with the company
separated from their personal accounts.

Disciplinary Consequences:

All the employees’ social media posts on the company’s account will be monitored. Upon
violation of the guidelines in this policy, employees may be subject to disciplinary action up to
and including termination.
An employee may be subject to disciplinary action or termination even for any after-hours
online activity that violates the policy.

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 4.10 PROBATION AND CONFIRMATION POLICY

Objective

The probation and confirmation policy lays out a framework for evaluating employee
performance during their probationary period, as well as the parameters that must be
followed for confirmation.
This policy is intended to provide everyone an opportunity to assess if employing a certain
person was the correct decision and if the employee should continue working for the
organisation.

Scope

The policy applies to all newly hired employees of the organization. The policy applies to the
organization’s full-time and permanent employees, but not to the “on contract” or part-time
employees.
Those who may be subjected to a probationary period as an employee include:
• Employees who have recently completed a hiring procedure for a permanent job.
• Current Employees who are promoted to a higher level of responsibility.
• Employees that are now being disciplined for a variety of reasons.

Definition

“Probationary Period” refers to the duration between signing an employment contract and
being given permanent job status to new employees. It’s a trial period during which the
employee is assessed to see if he/she is a right fit for the job and the organization.
Throughout the probationary term, the new employee will receive continuous feedback and
coaching to help them learn their new job and grow. The manager will decide whether or not
the employee should be retained in the organisation at the end of the probation period (or
potentially sooner).

Evaluation Criteria for Employment Confirmation:

The organisation follows three crucial evaluation criteria that must be met in order for
employment to be confirmed. The reporting manager and the HR department will be in charge
of verifying the criteria and issuing employment confirmation to the newly hired employee.

Work performance to be satisfactory in accordance with company standards:

The HR department gathers data about the role profile as well as the work plan that the new
employee agrees to follow. The manager will ensure that the new employee is able to complete
a set of tasks within the specified time frame. If there is a discrepancy between the agreed-
upon work plan, the set target, and the employee’s actual performance, the management has
the ability to infer that the employee’s work performance was unsatisfactory.

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Leave record to be satisfactory and shouldn’t exceed the set limit for a probation period:
A new employee is given ______ days of paid leave during their probation period of three months. Also,
_______ days at half pay over leave may be offered at the discretion of the HR Manager. After the
probation period is completed, the HR department analyses the total sick leave and overall leave
taken by the new employee, and then decides as to whether the new employee’s leave record is
satisfactory or unsatisfactory.

Follow the Employee Code of conduct:

It is critical that new employees arrive at the office on time each day and complete their
assigned work within the specified period. Attendance and punctuality records will be
maintained regularly. Remarks like “late mark” or “early out” will harm the review process
and the employer’s desire to keep the employee. The team members’ feedback will be used to
build a review of the new employee’s behaviour.
If applicable, other quantitative measurements would be used to assess the above-
mentioned criteria. Their development will be documented wherever possible, and the
manager will decide whether or not to keep them.

Extension of Probation Period:

• The probationary contract is extended only for a few purposes and for employees
under concern.
• During the probation period, if the employee performance is not satisfactory, the
probation period shall be extended by 90 days for further coaching and evaluation.
• A formal probation extension letter with the reasons for extension shall be issued to
the employee.
• Suppose the employee is found to have improved, and performance is satisfactory
during the extension period. The employee shall be given Probation Confirmation
Letter; otherwise, the probation shall be extended by 90 more days, and a notice period
will be initiated.
Below are the special cases for suspending the probation period of the employee during
absence, and resumed once the employee re-joins:
1. if the employee suffers from a non-recurring illness at the time of the probation period.
2. If the employee avails maternity/ adoptive leave.

Termination: Dismissal During the Probationary Period

Termination of an employee shall be initiated anytime during the probationary period,

without any prior notice, due to unsatisfactory performance or misconduct. A termination
letter with an effective date and complete details and reasons will be issued abiding by the
termination policy.
Termination shall also be initiated if,

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1. The employee performance remains unsatisfactory even after extending the
probationary period for two times.
2. The employee resigns from the company during the probation period. However, the
employee has to submit a letter with a valid reason for resignation.

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 4.11 OPEN DOOR POLICY

Objective:

This policy intends to ensure accessibility and transparency between managers and team
members. It translates to better and flexible communication, thereby developing a culture of
mutual trust.

Scope:

We expect all managers to keep their doors open, and this includes not just their office doors.
They should listen to their staff in person or through the use of digital tools at work.
The policy also applies to all the senior management who should be approachable to every
member in the organization. The policy should also work inter-departmentally.

Policy statement:

The open-door policy states that the doors of superiors or management offices (including the
CEO's) must remain open to give employees easy access in case of a concern. Team members
should be able to approach their team leaders and discuss concerns with them in a open
forum.

Definition:

“Open Door Policy” is simply about the practice of keeping doors open to all personnel. This
improves communication at all levels of the company.
Managers should keep their office doors open so that employees can:
• Approach them for advice or feedback.
• Bring attention to a problem.
• Make recommendations for improvement.
• Make a complaint or express a concern
• Pose a question on a topic.
• Inquire about resolving an internal conflict or dispute.
• Discuss any personal matters.

Guidelines:

There are some guidelines that can be established to preserve privacy while maintaining
openness:
• Walk-ins are allowed to discuss workplace issues and concerns if the door is open. If
the door is locked, please make a calendar appointment.
• Knock on the respective person’s door if there is an emergency that could affect more
than just you and could be dangerous. If the person isn’t inside, phone or locate them
as soon as possible.

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Having an effective conversation

Everyone’s time is valuable and has to be respected during the business hours. It’s suggested
to prepare an agenda and, if appropriate, distribute it prior to the meeting.

If the matter is a prolonged one

It is usual to meet with a manager on a weekly basis and this must be arranged in
accordance with both of your calendars.

Meeting the right person

It’s important to know who’s the right person to talk to, instead of talking to multiple people.

Responsible Parties:

It’s the mutual responsibility of the managers and the team members to implement the open-
door policy.

Manager’s responsibilities

• Listen to your team members.

• Be prepared to tackle crucial topics such as harassment as soon as possible and set
aside time to listen to the team members’ concerns.
• Take action. Make the changes that will make a difference.
• Always be transparent about what is going to be done.
• Please discuss with your team member about your thoughts and concerns. After all,
communication works both ways.
• Accept any criticism or negative feedback in stride. No retaliation shall be accepted.
• The manager and HR doors are to be open to help the employees handle the
information they have received for any queries.

Team member’s responsibilities

• If you want to talk about something important or delicate, make an appointment as

soon as possible.
• Instead of going to a more senior manager first, communicate with your manager
whenever possible.
• Resolve any minor disputes with your colleagues before reaching out to your manager.
• Feel free to share your opinions, if any.

It is the responsibility of everyone to ensure a safe and pleasant place to work in for everyone.

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 4.12 WORK TRAVEL POLICY

Objective:

The purpose of this policy is to reimburse the expenses incurred by the employee during the
approved or work-related travel abiding by the terms and conditions or guidelines.

Scope:

The policy applies to all the employees of Aldrich for all approved business travel expenses.

General Instructions:

• For any business travel, prior approval must be obtained from the Manager concerned.
• Employee must raise a travel request for approval with all the required details of
international or domestic travel as per the policy.
• In case of any changes in the approved travel, a new request must be logged with
manager.
• Employees can travel abroad to places as per the company’s guidelines. Any deviation
in this regard is not entertained.
• Employees are expected to drop an email to the finance department, with approval
attached, for travel advance.
• Travel and Food expenses are allowed as per the limits prescribed in the policy.
• Reimbursement claim shall be approved after proper verification and as per the policy.
• Claims or reimbursements for cigarettes or alcohol beverages are strictly not
entertained.
• All claims and expense reimbursement requests are to be raised along with valid bills.
• No reimbursement is allowed for expenses other than business related expenses.
• Employees are expected to be mindful while spending company’s money.

Procedures:

Travel Agency:

Any business travel arrangements shall be booked at our company approved travel
agency. If the employees prefer to book or make arrangements on their own, they must
make sure that the expenses are limited to the amount specified as per the policy.

• Flight/ Air Travel:

Employee travel by flight must be in compliance with the following –
➢ Employees, other than directors and board members, are allowed to travel in
economy class for business trips sponsored by the company.
➢ Prior approval from regional head is mandatory in case of international travel.
➢ Only in case of emergency, rebooking fee is reimbursed.

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 ➢ Cancellation of air travel should be informed at the earliest to the manager/ travel
helpdesk for taking further necessary actions with the travel agent.

• Rail Transport:
Employees can avail rail transport for domestic travels less than 12 hours and the
fare claims are reimbursed as per the policy guidelines.

• Road Transport:
Rental Car
➢ Car rental is preferably entertained only when the destination location has no
other economic and faster means of transport.
➢ Similar to air travel, employee must check with the company approved agency
for the best economical rental car available at that time.
➢ No reimbursement will be allowed for insurance purchased form the rental
agency.

Personal Vehicle
➢ Employees can also use personal vehicle for commute with prior approval from
the manager and reimburse expenses incurred.

Hiring Taxi
➢ Taxi expenses are reimbursed for employees who are on international business
trip and location. However, the taxi fare must not be exceeding car rental costs.
➢ All bills and receipts must be submitted for any reimbursement, as applicable.

Food:

• Expenses incurred on food (breakfast, lunch, and dinner) to the level of need during
the business travel shall be reimbursed.
• Food expenses are also reimbursed when the business travel includes a night stay and/
or travel is for 1 day or more.

Accommodation:

• Employee travel and stay arrangements shall be processed through the company’s
registered travel agency.
• If the employee wishes to make own accommodation arrangements for any reason,
below criteria is to be satisfied –
a. Prior approval is a must from the Manager.
b. The fare charged by the hotel must not exceed the limits as prescribed by the
company.
c. The hotel or accommodation place should preferably be within the city to avoid
any additional transportation charges.

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 d. Bills and receipts must be attached for the reimbursement claims raised.

Entertainment:

Entertainment reimbursement is limited to the expenses incurred in food and

beverages contributing to the business purposes.

Miscellaneous Expenses:

• Medical Emergency –
Any medical emergency during business travel shall be covered under Insurance
Policy.

• Family or Guest Expenses –

➢ No additional reimbursement shall be provided for travel and accommodation for
any person (family or guest) who travels with the employee.
➢ Employee can share facilities such as accommodation, taxi etc., unless that doesn’t
incur any additional cost to the company.

• Cellular Bills –
➢ All the telephone calls made for business purposes while travelling or on business
trip shall be reimbursed only with proper expense report.
➢ Employee personal call expenses shall also be reimbursed during international
business trips.

Responsibilities:

Employee Responsibilities:

• Employee is expected to get all approvals from the Manager, as required for the
business travel.
• Employee must adhere to the policy guidelines while spending company’s money.
• Collect all the expense bills and submit report when and is asked.
• For reimbursements, employees must provide all the expense details in original
receipts.
• In case of any of the below exceptions, prior approval from the respective manager is
mandatory –
a. Expenses exceeding the policy guidelines.
b. When the bills/ receipts are inadequate or missing.
c. For any deviations from the actual/ usual expenses.

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Approver’s Responsibilities:

• Verify all the claims whether they are valid and reasonable with respect to the
company’s policy.
• Approve claims without any personal benefit or bias.
• Ensure cost effective approvals for business expenses.

Finance Department’s Responsibilities:

• Review all the parameters like proper bills, manager’s signature, and calculations
before processing.
• Return or reject claims with improper or missing information.

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 4.13 REWARDS AND RECOGNITION POLICY

Objective:

The purpose of this policy is to

• Reward best performing employees either in terms of money or non-money items
conveying recognition and appreciation from organization.
• Motivate the employees to work more productively.
• Encourage employees to comply with company’s vision objectives.

Scope:

All the employees of the organization are eligible for getting recognized and rewarded.

General Instructions:

1. Managers must be mindful that the rewards are most effective and hence the
recognition must be properly carried out.
2. Nominations must be submitted without any bias.
3. Nomination and distribution of rewards must be carried with care.
4. Rewards and recognitions are entitled to the policy, no deviations shall be entertained.

Types of Rewards:

Rewards to employees can be in either of the below forms -

1. Monetary Rewards
– involves cash incentives like one-time cash reward, bonus, promotion increment,
stock options etc.
2. Non-monetary Rewards
– involves certificates, gift vouchers, trophies etc.

Recognition Awards:

Employee performance is recognized and awarded based on Performance and Contribution.

For any category of awards, manager/ supervisor must assess the subordinates and nominate.

Performance awards

Performance awards are regular recognitions, awarded to employees for their efforts
during the assessed time. Employees are nominated by their supervisor/ manager after
assessing their performance in the specified time. Below are the Performance awards
listed: -
• Employee of the Month
➢ Employee shall receive a certificate of appreciation and a monetary prize of ______

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 • Employee of the Quarter (EoQ)
➢ Employees with consistent performance during the quarter shall be nominated
and awarded by the supervisor/ manager.
➢ Employee shall receive a certificate of appreciation and a monetary prize of ______

• Employee of the Year (EoY)

➢ Employees who have put continuous efforts for the growth of organization and
have been nominated for EoQ for at least 2 times are eligible.
➢ Employee shall receive a certificate of appreciation and a monetary prize of ______.
➢ Employee photo with EoY title shall be displayed on the portal.

Contribution Awards –

These awards are in recognition to the outstanding contribution by the employee to the
organization. Similar to the performance awards, manger/ supervisor must assess and
nominate employees for contribution awards mentioned below: -

• Spot Excellence Award

➢ Nominated and awarded for any proactive tasks performed beyond normal tasks,
which contribute to the organization growth.
➢ Employee shall be awarded with certificate of appreciation and monetary award
of ________.

• Outstanding Innovation
➢ Awarded for the employees who contribute innovative and creative ideas for
betterment and benefit of organization.
➢ Employee shall be awarded with certificate of appreciation along with ______
monetary reward.

• Commitment Award
➢ Employees who have been working with organization continuously for years (5,
10, 15, etc.,) are eligible.
➢ Employees shall receive certificate of commitment in addition to _______ monetary
rewards.

Reward Procedure:

1. Manager/ Supervisor to assess and recognize the member for nominating for the
reward benefits.
2. Manager/ Supervisor must submit approval request with respective head for
rewarding the employee.
3. Upon receiving the approval, share the reward with the employee during an event or
Infront of the entire team.

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 4.14 TRAINING AND DEVELOPMENT POLICY

Objective:

Our company’s training and development Policy covers the learning and development
programs and activities.
In this competitive economy, employees have to upskill their knowledge to perform their
tasks better which benefits the employee and organization as well. Employees must be
confident in their potential to achieve better efficiency and productivity while also exploring
new opportunities for personal growth and accomplishment.

Scope:

This policy applies to all of the company’s permanent, full-time, and part-time personnel. In
addition, this policy applies to all qualified employees without regard to their rank or
protected characteristics. Supplementary employees, like consultant and contractors, are not
covered by this policy. Temporary or contract employees may appear for trainings at the
discretion of their managers.

Definition:

Staff Training and Development: This term refers to any activity aiming to help employees
maintain, update, and improve their competencies. This comprises informal, formal, on-the-
job training and learning & development activities such as, self-directed learning, mentoring,
and coaching, electronic learning, and shadowing and secondment possibilities.

Policy Elements

Training policies can be implemented effectively with team effort.

To promote a culture of continuous professional development (CPD), it is essential to have
employees, supervisors and HR work together.
• It is employee’s responsibility to hunt for new learning opportunities.
• Managers are responsible of coaching and identifying training requirements for their
teams.
• The Human Resources (HR) Department develops and revises a training plan on an
yearly basis depending on the firm’s current initiatives and future plans.
• The HR department holds seminars, workshops, and refresher training to keep the
employees informed and up to date on the newest learnings.

Classification of Courses

The training modules are divided into categories based on the following criteria:
• Technical Skills: Subjects that focus on developing technical skills and knowledge specific
to a career or function.

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• Managerial Skills: These are the abilities required of managers to manage their functions
and employees.
• Soft Skills: Developing personal attributes that improve an employee’s relations with
other employees, both internally and externally.
• Professional certification: These programs certify the employee in a certain field.

Types of training:

Individual training programs

• Individual training programs are subject to specific provisions, the right to which is
reserved for the company.
• Individually or in groups, all employees working with the company for a minimum of
_____ months are eligible to engage in external training programs.
• When an employee signs up for a training program, they must ensure attending it. In
case of any deviation or emergency, it should be posted to respective managers and the
HR team.
• Employees are permitted to skip the training programs up to (number of days) each
year for valid reasons. Employees can enrol and attend as many trainings as they
desire, as long as they don’t exceed the budget or the number of days allowed. The
employee must pay extra fees if they go over budget. If an employee exceeds the daily
limit, they must seek paid time off.
• If requested, employees may be required to bring proof of attendance to such training.
• A budget is fixed for each employee and a team at the start of the financial year and is
renewed annually.
• Any company-mandated employee training, such as shortfalls in an employee’s
performance is not included in the training budget or time limit.

Corporate training programs

We may hire experts to train our personnel occasionally. In this situation, the organization
will bear the entire expense. The following are some examples of this type of training and
development:
• Equal employment opportunity training
• Managers receive leadership training on a variety of topics.
• Employee conflict resolution training
• Diversity training

This category also consists of training conducted by internal experts and managers.
Here are several examples:
• Training new hires
• Training teams in company-related issues

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 • Training employees to make them ready for transfers, promotions, or new
responsibilities
Employees will not have to pay for this training, and they will not be compelled to take time
off. As part of the procedure, attendance records may be required.

Other types of training

Employees and management hold responsibility in determining the appropriate training

methods for CPD. They should be willing to adapt to new situations to improve their abilities
and production. Employees must seek instruction and advice from their managers. Managers
should encourage, guide and mentor their subordinates in the same way they do with their
superiors.
Employees are urged to utilize their rights to learn at their own pace. Within the authorized
budget, they are welcome to request educational materials and access to variety of other
resources.

General guidelines:

• Managers should retain records for future reference and chances for improvement.
They should assess the effectiveness of training materials and efforts regularly.
• Employees should utilize their training opportunities to the best. They must make an
effort to find ways to put what they’ve learned into practice to improve their work.
• Employees must use the training funds and time allotted to them for training purposes.

Procedure

This procedure is to be followed by employees to attend external trainings and conferences:

• Employees recognize the need for training (or their team leaders).
• Employees and team leaders give recommendations for potential training programmes
or techniques upon discussion.
• Employees or team leaders contact HR and make succinct recommendations. They may
have to fill out a form for the same.
• HR analyses the plan, while being mindful about the budget and training material.
• HR could decide on accepting or rejecting the idea and disclose the reasons to
employees in written format.
• If the plan is approved by HR, employees can proceed further in making plans such as
dates, reservations, lodging etc.
• Employees must pay and submit receipts or invoices of trainings for reimbursements
to the HR, if it is not paid by the firm directly.
• Employees must contact HR as soon as possible when they decide to skip or cancel a
training. They'll also be liable for any cancellation or additional fees.
• If the training includes an examination, employees must report their findings. If they
do not pass the first time, they can take the exam again at their own expense.

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Other Guidelines:

• In most cases, the firm will pay for all training costs, including registration and exams
(one time). They might also cover things like transportation, lodging, and personal
expenses. HR has the last say on this.
• If HR wishes to fund these expenditures, they must establish their own arrangements
(e.g., tickets, hotel reservations). Employees will be compensated for any additional
covered expenses if they bring any applicable receipts and invoices.
• Employees can contact HR directly or even ask their respective managers to do so if
they wish for subscriptions. The subscription should ideally be set up by HR. They may
provide formal approval to employees in some rare circumstances so that they can do
it themselves.
• Employees should tell HR of the cost and any other details in writing once they have
made their arrangements. HR should also receive any necessary invoices.

HR’s Responsibilities Include

• Examine training requirements.

• Assist with activities and techniques for learning and development.
• Employee development initiatives and corporate training programs should be
promoted.
• Whenever possible, calculate learning and development KPIs and make improvements.

Training Evaluation

An evaluation is done at the end of each training through forms, surveys, or face-to-face
discussion. The skills and knowledge define the effectiveness of the training and competency
obtained from the programme, as well as how the employee intends to apply the acquired
abilities in his or her profession. Training activities are assessed to see if the training modules’
objectives and expectations are built on have been satisfied.

Time-tabling:

Time-tabling is the part of process that facilitates the required data for proposed stage or
month of trainings involving the key personnel/ stakeholders. Every time new activities are
planned and taken into consideration. Below is the template to be used -

Stage/ Month Activity Key Personnel/ Stakeholders

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 4.15 WORKPLACE VIOLENCE POLICY

Objective:

The policy objective is to provide a friendly, respectful, violence-free and safe workplace for
the employees, guests, clients, etc.

Scope:

The policy applies to all the employees and/ or any visitors of the organization. Any violation
to the policy will not be tolerated and company holds all the rights to intervene in this regard
at any given point of time to address the situation.

Definition:

Any act of threatening or physical violence or verbal abuse to harm a person shall be
considered as act of violation. “Workplace Violence” refers to any of the following:
• Offensive, degrading, threatening or unwelcoming verbal abuse.
• Any act of defaming a person’s dignity or respect.
• Carrying or usage of weapons that harm others.
• Sexual harassment or racial discrimination.

Procedure:

• Any employee who confronted or witnessed the act of violence at workplace must be
reported to their immediate supervisor or the HR manager at the earliest.
• HR Manager/ Supervisor is responsible to maintain the anonymity and investigate the
case without any delay.
• Upon proper investigation, the HR manager/ supervisor must document the findings
for record purpose.
• Required counselling shall be planned for the parties involved in the incident.

Note: The document with findings shall be disclosed on need-to-know basis during any
audit.

Disciplinary Action:

• Any deviation to the policy by employees of the company, such as misconduct,

harassment, verbal abuse, or physical attack will not be tolerated, and immediate
disciplinary action will be taken for such conduct. Disciplinary action might be taken
up to termination depending on the nature and type of violence.
• Any non-employees such as guests/ visitors/ clients found in such behavior shall be
reported to the authorities as per the law.

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Risk Reduction Measures:

In order to reduce the risk of violation at company, our company ensures and is keen towards
the below aspects:

Background Check

Conduct proper background check to identify any criminal background while hiring or
onboarding an employee to the organization.

Regular safety inspection

The company shall conduct regular and sudden inspections to ensure the workplace safety
and reduce the threats or risks by taking necessary action, if required.

Individual situations

In addition to the background check and regular safety checks, the company also ensures to
assess and identify the violent situations confronted by individuals or employee misconduct.
Individual situations include:
a) Identifying and maintaining a list of employees who are vulnerable or at a risk of getting
troubled in any way.
b) If the employee encounters a dangerous situation, the employee shall try to be calm and
attempt to get assistance. If the situation is uncontrollable, the employee shall follow the
instructions of the other person to get out of danger and save life.

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 4.16 EMPLOYEE CONFIDENTIALITY POLICY

Objective:

The confidentiality policy of Aldrich specifies how employees are expected to handle
confidential information and the repercussions for improper handling.
Employees will get and handle sensitive and confidential information about our partners,
clients, and the firm on a regular basis. For two reasons, this information should be well-
protected:
• It has the potential to be legally binding, like sensitive data of customers.
• It might be the backbone of our company giving us a competitive advantage such as
market secrets, business processes, etc.

Scope

This policy is applicable to all employees with access to confidential information, including
board members, investors, contractors, and volunteers.

Definition:

“Confidential information” can be defined as:

• Financial data that hasn’t been published
• Patents, formulas, and new methods/methodologies
• Lists of customers and/or clients (existing and prospective)
• Outside parties have entrusted us with written/electronic documents or other similar
material.
• Pricing, marketing, and other strategies that is unrevealed
• Any material that is clearly labelled “confidential”
• Confidential material referring to aims, predictions, and plans that has not been
distributed.

Employees Should:

• Always keep confidential information locked up.

• Once secret documents are no longer needed, shred them.
• Only use secure devices to view confidential information.
• Only share confidential information with other employees when it is absolutely
required and allowed.
• keep private documents on corporate premises at all times, unless there is a compelling
need to move them.
Employees should not:

• Use sensitive information for personal gain or profit in any way.

• Disclose confidential information to outsiders.

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 • Duplicate important and confidential documents and files and store them on insecure
devices.

Confidentiality Measures

Below are the necessary steps to be taken to ensure that sensitive information is kept safe:
• Paper documents should be stored and locked.
• Encrypt electronic data and keep databases safe.
• Obtain non-disclosure agreements from employees.
• Ask top management for authorization to access certain confidential information.

Exceptions

Confidential information may need to be disclosed occasionally for legitimate reasons.

Here are several examples:
• If it is requested by a regulatory agency as part of an inquiry or audit
• If our firm investigates a partnership or a venture that necessitates the disclosure of
certain facts (within legal boundaries)
Employees participating in such situations should document their disclosure method and
obtain the necessary authorizations. One should be careful, not to reveal any more
information than is absolutely necessary.

Disciplinary Consequences

• Employees who violate our confidentiality policy will be subject to disciplinary and, in
some cases, legal action.
• Every violation of this policy will be investigated.
• Any employee who deliberately or repeatedly breaches our confidentiality policies for
self-benefits will be terminated.
• Based on the severity and frequency of any accidental violation of this policy, employee
may be penalised.
• Employees who breach this policy on a regular basis, even if not intentionally, will be
fired.
Even after separation of employment, this policy remains in effect.

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 4.17 COMMUNICATIONS POLICY

Objective:

This policy aims to communicate the objectives, goals, procedures, guidelines, and other
company related information, as necessary, to internal and external communities of the
company.
This policy aims to develop a fair process for the flow of information and provide guidance for
an effective way of communication. This policy provides guidelines for the communication of
any matters related to the company. The policy also aims to safeguard the breach of the
company’s sensitive information.

Scope:

This policy applies to all the employees of the company.

General Instructions:

• Only authorized employees or the top-level management shall issue public communication
or notice or press release.
• Any communication circulated internally should be precise and clear.
• Ensure timely communication to all the appropriate audience/ contacts.
• Any information requested by stakeholders should be processed and communicated
without delay based on disclosure type (public/ private/ confidential/ internal/
restricted).
• The company is always open to any feedback from the stakeholders for better service.

Internal Communication:

Contacts/ Audience:

• Board members
• All employees
• Support staff

General Guidelines:

• Internal communication is the flow of information to all the internal stakeholders of

the company.
• Internal communication is generally considered as one of the key factors to strengthen
internal stakeholder bonding, organizational culture, etc.,
• Individual departments and heads are responsible for prompt internal communication.
• All internal communications must be maintained professionally at any given point in
time.

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 • Internal communication includes any updates regarding the project, policies,
guidelines, etc.,

External Communication:

Contacts/ Audience:

• Stakeholders
• General public
• Press

General Guidelines:

• External Communication includes promotions, public policy changes, products,

Company general information, etc.,
• It is always important to ensure proper external communication for the sustained and
long-run success of the company.
• Only authorized personnel or the company’s ombudsperson shall issue the external
communication on behalf of the company.
• Press releases/ presentations/ announcements must be reviewed keenly before
disclosing them to the public.
• Any communication with media should be handled with high-level sensitivity and
confidentiality.
• Business reports, financial statements, press conferences shall be addressed by
authorized personnel only.

Channel/ Method of Communication:

Table 2: Stakeholders and Channels of Communication

Stakeholder Channel
Board Board meetings, letters, and emails
Members
Employees Seminars, Sessions, Mails, Letters, Internal portals/ websites,
Intranet
Shareholders General meetings, conferences, emails, letters, flyers
Staff Meetings, Intranet, emails, memorandums.
Press & Interviews, press releases, speeches, websites, publications, social
Media media
Source: Researcher

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Restrictions:

• Do not use personal emails for discussing and communicating confidential information of
the company.
• Refrain from connecting unauthorized networks while dealing with confidential
information.
• Do not use nicknames or improper titles while addressing any recipient.
• Reply or forward any communication to the required audience alone.
• Do not communicate any personal opinions on the official public announcements.

Crisis Communication:

For any situation, which could potentially impact the company & its relation with the internal
or external stakeholders, the Crisis Management Team will manage all the Corporate
Communications and is responsible for sending a communication to both internal and
external parties to reduce the risk.

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 4.18 ONBOARDING POLICY

Objective:

The policy lays down the steps that all managers and employees must take when a new
employee starts working for Aldrich. This policy covers the orientation and onboarding
processes as well as the roles and responsibilities to ensure that new employees feel
welcomed.

Scope:

This policy is applicable to all employees who have recently been offered and accepted a
position at Aldrich.

Policy Statement:

In order to perform and progress in their responsibilities, Aldrich strives to guarantee that all
workers are properly and efficiently introduced to their new positions as well as Aldrich’s
related policies, procedures, and processes. Aldrich aims to follow all federal and state rules
governing new employee onboarding.

Definitions:

Onboarding is the official and informal process of integrating a new employee into an
organisation in order to facilitate the acquisition of skills, knowledge, and behaviours required
for success in the position.
Our onboarding activities will be focused on achieving the following goals:
• Make new employees feel at ease.
• Assist new hires in getting to know their team.
• Provide relevant details about their position.
• Instruct the new hires on the company’s values, new employee orientation, mission,
and procedures.

Before a New Employee Starts Work

HR should:
• Notify the rest of the department about the new hire’s start date and basic personal
details, especially their new team.
• Set up individual e-mail addresses, accounts, and phones and enter information about
the new employees in the company database.
• Make an onboarding programme that includes defined tasks, deadlines, participants,
and documentation.
• Provide the necessary materials and equipment for the new hire’s workspace.
• Send the new hire an onboarding package. This bundle will comprise of documentation
detailing their new position, our company, and the orientation procedure.

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 • Assign a mentor who will be the new employee’s go-to person for any questions and
will assist them in acclimating to Aldrich. The mentor need not necessarily be the same
department as the trainer.
• Create an on-boarding schedule for the new employee and send meeting requests to
the employee, trainers, and supervisor.

After the New Employee Starts Work:

On the first day:

HR and new employee’s manager should:

• Welcome new employees in an organised manner on their first day. Everyone involved
(reception, boss, co-workers) needs to be ready for the arrival of new employee.
• Introduce new employees to their workstation and assist them in becoming acquainted
with their surroundings.
• When appropriate, introduce new personnel to co-workers and top management.
• Important documents should be presented for evaluation (Employee Policy book,
previous reports etc.). To avoid overwhelming the new recruit, the paperwork is to be
kept minimal.
• Provide brief presentations to familiarise the new employees with company’s mission,
procedures, values, and policies.

Welcome Package:
HR will put together a welcome package that will be given to new employees on
their first day.
The standard Aldrich welcome package consists of:
• Employee policy book
• Welcome letter
• Job description
• Forms for payroll and employee files
On the first day of work, the new employee’s manager will give them the bundle.
In addition, HR will meet with the new employee within the first week of
employment to collect the information(personal and payroll) forms needed, as
well as address any questions the employee may have.

First Day Induction

The employee’s first day induction covers topics as:
• Overview of the Business
• Overview of Human Resources
• An overview of Client and Member Services
• A tour of the facility
• An overview of the office and its equipment.

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Induction Checklist:
• At the completion of each presentation during the induction, the presenter shall
mark all relevant topics presented during the presentation as complete on the First
Day Induction Checklist.
• The Responsible Manager will make sure that the employee completes the rest of
the First Day Induction Checklist.
• After completing all the topics, the Employee and Responsible Manager will sign
the First Day Induction Checklist, which will further be scanned and emailed to the
HR Team for inclusion in the employee’s personnel file.
• The Responsible Manager shall introduce the employee to his mentor once the
First Day Induction Checklist is completed.

During the first week of the job:

The manager is advised to-

• Assist the new employee in establishing a network of communication regarding who

to report to, who to contact for what, etc.
• Assign simple but meaningful tasks to employees to help them adjust to their new
position. During their initial days on the job, the employee should not be required to
do any urgent work or handle any responsibilities that are not part of their job
description.
• Arrange for the new employee to shadow colleagues during their shift so that they can
practically learn how things are done.
• Schedule lunch or tea breaks for the new hire to interact.
• Assign a mentor to the new hire.

We want the new hire to feel respected and valued from the start. The supervisor of the new
hires has the authority to implement onboarding activities that are not covered by this policy.
We encourage group activities because they make new hires feel like they’re part of a team.
New employees may require more than a few days to completely comprehend their tasks and
learn how to be productive in their new environment. Onboarding may continue until
personnel are confident in their ability to function independently.

Onboarding Period

The Employee and the Responsible Manager will meet in the first week of employment to
discuss the Onboarding Plan. The employee will utilise the Onboarding Plan to track his or her
progress and mark off the components that have been completed during the Onboarding
Period.
The Employee and the Responsible Manager will meet on a regular basis to discuss the
employee’s progress toward successfully finishing the Onboarding Plan.

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In most cases, the Onboarding phase will last three months from the employee’s start date.
The onboarding process may be completed sooner than this, depending on the needs of the
employee and how quickly he or she can integrate into the position.
The scanned and signed Onboarding Plan shall be emailed to the HR Team for inclusion in the
employee’s personnel file.

Employee Declaration

I have read and understood Aldrich’s Onboarding Policy. I agree to follow the terms and
conditions of this policy, and I will make sure that anyone working under my supervision
abides by them as well. I understand that on violation of the policy, I may be subject to
disciplinary action under relevant laws or Aldrich’s policies.

Employee Signature _____________________________________

Date ______________________________________
Manager Signature ________________________________
Date _____________________________________

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 4.19 EQUAL OPPORTUNITY POLICY

Objective:

This policy intends to provide all employees with equal opportunities at any stage, in
accordance with the law and without any discrimination. The company pledges to be an equal
opportunity employer. The primary objective is to comply with the law pertaining to the
policy.

Scope:

The policy applies in all aspects and situations of the company, including hiring, promotions,
transfers, rewards, recognition, compensation, training, etc. The policy is applicable to all
employees, contractors, and any firm in relation to the company.

General Instructions:

• All employees are expected and responsible to respect every other employee of the
company without any discrimination.
• HR personnel should ensure unbiased hiring and onboarding of employees irrespective or
age, caste, sex, religion, disabilities etc.,
• Recognition, promotions, and opportunities to any employee must be based on
performance and in compliance with the company policies
• Any deviation to the policy will not be tolerated and shall lead to even termination.
• Any employment notifications shall be issued providing equal opportunity and in
compliance with the state regulations.

Roles & Responsibilities:

Employee Responsibilities –

All employees of the company should abide by the policy, rules and regulations, and the
laws, as applicable. Compliance of employees is mandatory in any aspect with regards to
the company.

Manager/ Supervisor Responsibilities –

In addition to the employee responsibilities, managers/ supervisors are expected to

maintain confidentiality and prompt response in solving the conflicts with no bias.

HR Responsibilities -

HR personnel are expected to have no discrimination and stay unbiased in addressing the
issues regarding the employees of the company.

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If any Discrimination:

• If an employee encounters discrimination at any stage of the company’s procedures such

as hiring, promotion, etc., should be taken into the notice of Manager/ HR.
• Manager/ HR must investigate the case and take necessary action with confidentiality.
• Prepare a report of the findings within 48 hours from the time of incident.

Exceptions:

• If the issue is with Manager/ HR, then the employee shall raise the concern with the
ombudsperson through email or over telephone.
• The respective ombudsperson shall resolve the issue with confidentiality.

Implementation:

The managers, HR and ombudsperson are responsible in implementing and providing equal
opportunities to all the employees of the company. HR personnel are further responsible in
compliance management and maintaining records.

Guidance:

Should any employee require assistance or guidance with regards to the policy shall contact
the respective HR representative.

Consequences:

Any employee, on violating this policy will be considered as offensive or misconduct and the
company shall take necessary action until termination, as applicable.

Act Pertaining to this Policy:

Article 16 of Indian constitution mandates equal employment opportunity.

Communication of the Policy:

Policy is available to all the employees of the organization on the official website. Further, any
changes to the policy shall be communicated to the employees over email and website.

Policy Review:

The company holds all rights to make changes to the policy with respect to the changes in local
law and regulations.

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 4.20 EMPLOYEE CONFLICT OF INTEREST POLICY

Objective:

The objective of this policy is to safeguard the interests of Aldrich. Agents and employees of
Aldrich may get to advance their personal interests alongside or against the interests of
Aldrich in the normal course of business. Acting in this manner is inappropriate, and anyone
who acts against the best interests of Aldrich may face disciplinary action.

Scope:

This policy is applicable to all prospective and current employees, as well as independent
contractors, and people operating on the company’s behalf.

Policy Statement

All employees of Aldrich have a fiduciary duty to the company. Therefore, employees should
never put themselves in a position where their personal interests’ conflict with their
responsibilities. Any employee, on violating this policy will face disciplinary action, up to and
including dismissal.

Examples:

This situation can take many different forms, including, but not limited to, the following types
of conflict of interest:
• Employees’ ability to make use of their company position or use company’s
connections for their personal gain.
• Employees who engage in activities that benefit a competitor directly or indirectly.
• Employees who use company equipment or resources to assist a third-party business.
• Employees who own shares of a competitor’s stock.
• Employees behaving in ways that could jeopardize the company’s legal status (e.g.,
taking or offering bribes).

Procedure:

Duty to disclose

Every Aldrich employee or agent is required to disclose any known or potential conflicts of
interest as soon as they emerge and failing to do so would result in termination.

Inquiry of potential conflicts

When a potential conflict of interest develops, the Board of Directors will gather all relevant
facts and may interview any involved parties. If the board concludes that there is a
disagreement, efforts will be taken to resolve it. The investigation will be documented if there
is no dispute, but no further action will be taken.
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Dealing with conflicts of interest:

Any transactions that might have got affected will be evaluated if an actual conflict of interest
is discovered. All Affected parties shall be contacted. The Board of Directors will conduct an
inquiry to assess the scope of the conflict and the intents of the people involved.
If a member or members of the Board of Directors are involved in the conflict, they will not be
a part of the investigation.

Disciplinary Consequences

When conflicts of interest are knowingly concealed or proved misconduct on review,

disciplinary action shall be taken up to and including termination.

Employee Acknowledgment.

By signing this policy, I acknowledge understanding the above policy and accepting the policy
guidelines and constraints. I would abide by the procedures outlined in this policy during my
professional relationship with Aldrich.

Employee Signature _____________________

Date __________________________

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CHAPTER 5 FINDINGS, SUGGESTIONS, IMPLICATIONS & CONCLUSION

Page | 77
5.1 FINDINGS

• HR policies emerge from a variety of sources like past experiences, traditions, business
environment, philosophy of Board of Directors, international conditions, Labor
Legislation and policies of the Government. Most human resources (HR) policies are
the outcome of the thoughtful and deliberate formulation.
• Human Resources Policies are in place in every company. On the other hand, some exist
as a management philosophy and an attitude towards employees which is expressed
in way HR matters are addressed.
• Policy formulation, development, and implementation are all traditional management
functions and integral aspects of HR managers’ responsibilities. This necessitates a
planned, managed, and coordinated approach and will help understand the corporate
culture and its core values.
• A policy for managing human resources in an organization is developed by performing
a series of activities. A wide range of management abilities like conceptual thinking,
problem-solving, technical, and interpersonal skills are necessary for effective policy
management.
• Because a policy is a type of standing plan, it should be formulated after considering
several aspects that influence the policy's workability. HR policies help identify the
company's important policy issues, such as legal issues, funder requirements, any
collective agreements that might affect the organization, etc.
• Human Resource Policies include several aspects like selecting employees to find the
right fit for the organization, job analysis and competency modeling, training and
developing a competitive workforce, developing recruiting and retaining qualified
employees, measuring performance and providing feedback using performance-based
pay to enhance motivation, an approach to total compensation, promoting workplace
safety and health, providing benefits and services, unionization and collective
bargaining, and many others.
• In today's corporate world, all organizations can be considered as open systems. HR
managers must take a holistic management approach to comprehend the impact of all
of these levels on organizations.

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5.2 SUGGESTIONS
In this project, certain HR policies such as Workplace Violence Policy, Open-Door Policy,
Rewards and Recognition Policy, among others have been drafted, which might be
incorporated into the company’s policy system as applicable. Aldrich as a parent company
has its own policies. Hence before implementing these drafted policies, the following
suggestions would help ensure that they are in-line with the parent company’s policies:

• Employees’ Participation in Policy Formulation

− Conduct survey with the employees of the organization to understand their views
on HR policies.
− Identify and bring employees on board various departments to suggest changes in
existing policies and implementing new policies.
− Motivate and encourage employees of different levels to provide feedback on the
HR policies for better understanding of the effective implementation
− Collect different policy options, and opinions to choose the most appropriate
policy option.

• Committee Approach to HR Policy Formulation

− Form a personal policy committee with department heads, line executives,
personnel specialists, general managers to develop policies to achieve
organizational goals. The personnel policy committee should be made up of people
who work in management, usually functional executives as well as executives from
the personnel and industrial relations departments. Subordinates and non-
managerial staff are usually not allowed to participate.
− Arrange multiple meetings for the personnel, who work in management roles and
handle employee grievances to formulate policies that reduce the conflicts and
benefits to organizational growth.

• HR counselling cell:
The employer-employee relationship can improve under this method. All workers
shall come here to express their issues to authorized HR personnel, and the HR
personnel will subsequently take the appropriate actions.

• Continuous modernization and revision:

As the world becomes increasingly varied, modernization and modification of HR
policies and strategies are essential. The head of HR should keep a close eye on
what's going on in the world and adapt policies to fit the new situation.

• One of the most important aspects of good policy formation is collaborative decision-
making. Policies that are cooperatively created by all parties involved are more
practical and adaptable.

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 5.3 IMPLICATIONS
• Formulation and implementation of HR policies is one of the vital responsibilities of
the HR department of an organization. Policies can be implemented effectively with the
support of those affected, as they have the opportunity to think about and discuss the
potential consequences of the policies.
• The first consideration in developing policies is the objective or purpose. HRM policies
serve as thinking and acting guidance documents for the HRM department,
while enabling the achievement of organisational objectives.
• HR policy formulation and its importance should not be given up or taken for granted.
Human Resource policies should be formulated to create proper working
conditions, encourage common interests, acknowledge the effects of change on people,
recognise work, engage employees, and understand the role of trade unions.
• Efficiency and effectiveness of the policy will communicate the clear intentions of the
Employer in designing policies. As a result, policies promote consistency and fairness
of action and eliminate any prejudice in employee-related decisions.
• Employers should be mindful of the interests of the organization and employees while
designing the policies. Regardless of the designation of the employees within the
organization, the policies should be functional and unexceptional, unless specified.
• Policies contribute much of the organization's sustainability and growth. Hence, they
are designed for every aspect of the company to serve as decision-making criteria,
which facilitate the saving of precious time.
• Top management is ultimately responsible for approving new or amended HR policies
to advance the organization’s objectives, while also meeting the regulatory
requirements.

5.4 CONCLUSION
Human resource policies and procedures are considered as formal agreements that focus on
how companies operate with their personnel. Members of the organisation receive adequate
advice and direction from through these HR policies and procedures.

HR policies and practises are prone to changes. They don't stay the same all the time. HR
policies and processes evolve as a consequence of technological developments and the advent
of modernization and globalisation. When technological methods and machines replace
traditional ways of production, it is evident that HR policies and procedures would change as
well. As a result, it is clear that rules and procedures that will effectively contribute to the
execution of these modifications must be developed.

The HR policies and procedures assist the business in attaining its goals and objectives.
Organizations must develop an HRM strategy along with the business drivers, which may
make the strategy crucial for their success. To flourish and succeed in today ’s extremely
competitive business climate, organisations must raise awareness about the use of

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contemporary and innovative approaches. Changes in HR policies and procedures will occur
when contemporary and creative methods of implementing job duties are introduced. It is
critical that employees are well-versed in the use of these methods and procedures. As a
result, it can be claimed that with the use of contemporary and creative techniques, HRM
becomes a significant tool for management, leading to advancement and goodwill.

All members of the organisation must devote themselves fully to achieving the intended goals
and objectives. Collaboration and integration among members are seen as essential for
establishing a healthy and safe working environment. It’s obvious that members must form
positive relationships with one another. To perform their responsibilities and activities
satisfactorily, they must expand their knowledge in terms of modern and innovative
techniques, as well as HR policies and procedures. Members of the company must work
together to improve their understanding of and modifications to HR rules and procedures.
Finally, they must be advantageous to the members and the organisation as a whole.

Page | 81
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