Speaker: Ravi C Dasgupta

1. Using Benefits as a
Differentiator
NHRDN SUMMIT
Ravi C Dasgupta
Vice President - Group HR
Biocon Limited
February 15, 2013

2. Benefits – An Element of Total Rewards
Benefits is used by employers to supplement cash compensation. Benefits
programs are designed to protect the employee and his/her family from
financial risks.
Attract and Retain Talent
Attract
Branding– Internal &
Retain External
Build Loyal Workforce
Great Differential Factor in times
of Budget Constraints

3. Employment Value Proposition (EVP)
ATTRIBUTES THAT DETERMINE EVP
• Base Salary
• Incentives Compen
• Cash rewards -sation
• Brand
• Health
• Culture
• Retirement Organiz-
Benefits • Environment
• Paid Time Off ation • Growth
• Perquisites
EVP • Belongingness
• Advancement • Variety
• Learning & Work • Challenge
Development Career • Meaningfulness
Content
• Meaningfulness • Satisfaction
• Employment Security

4. Employment Value Proposition (EVP)
VALUE OF TOTAL REWARDS INVESTMENTS
Employees are more concerned with the employers’ benefits offerings now than they
were in the heart of 2009’s global economic turmoil.
Source: © 2012The Corporate Executive Board Company.
All Rights Reserved. CLC2620212PRO

5. The Problem with Benefits
Perceived value of benefits differ based on employee age, income
bracket, & family circumstances.
One size almost never fits all.
Once introduced, they are hard to remove.
High cost but undervalued benefits can sometimes derail hiring efforts.
Benefit costs can spiral out of control and endanger the health of the
company.
This makes many companies prefer offering cash to benefits.
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6. Some Benefits I Enjoyed !
Company leased housing • From yrs 4 to 15 of my career
Company provided car • From yrs 8 to 23 of my career
Housing loan interest subsidy • Allergan
Family Holiday plan • SmithKline Beecham & Biocon
Flexi Allowance/ Car Lease plan • Biocon
Flexible work timings • Biocon
Fully furnished company flat • Goodlass Nerolac
Weekends & holidays excluded from EL • Biocon, Allergan, SB
Children’s Education • Biocon
Annual Team outing • Biocon
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7. Some Benefits I Rarely/Never Used
Medical Insurance • Used only when my 2 kids were born
• Goodlass Nerolac, Crompton &
Relocation Benefits
Greaves, SB
Gym • Biocon
Sick Leave • All the companies I worked in
Accident Insurance • All the companies I worked in
Crèche • Biocon
House Deposit advance • Biocon
Leave encashment (except at
• All the companies I worked in
exit)
Higher Education Support • Biocon
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8. When can Benefits be a Differentiator?
High perceived value to employees.
Reflects company values such as concern for people.
Being the only company (or at least one in few) that offer it.
Significant enough to attract or retain.
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9. Some Differentiator Benefits that impressed
me during my career
Employee Cooperative Credit
• Crompton Greaves
Society
Fully Maintained Company Car
• Smithkline Beecham
with 250 lts. of petrol a month
• Smithkline Beecham &
Family Holiday plan
Biocon
Annual Health Checkup • Biocon & SB
GTL in lieu of EDLI with critical
• Allergan
illness rider
Bereavement & Adoption leave • Biocon
Children’s Education • Biocon
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10. Some Suggestions for Creating Differentiating
Benefits in your organization
Unless its an “industry given”, avoid playing the “me too” game.
Have lesser number of benefits, but offering higher value.
If you have the IT and other resources to support it, consider a
‘basket of benefits to chose from’ approach.
Be aware of employee demographics and how they impact
‘perceived value’ of benefits.
Do some modeling of ‘future demographics’ in 5 & 10 years
before introducing a new benefit.
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11. THANK YOU
Ravi C Dasgupta
Vice President - Group HR
Biocon Limited
6th Dec 2012
http://in.linkedin.com/in/ravidasgupta