While of
course 2020/21 has shown a massive shift in the way businesses operate, it has
also posed significant personal difficulty to workers all over the world. Employees
are worried about their health & loved ones’, tense about the security of
their jobs, concerned with juggling young children and partners at home while
trying to get their work done through a pandemic.
And of course, HRM is
worried too. Uncertainty around what should be communicated and how it should
be done complicates the already stipulated task of heading and modeling company
values(Top 10 HR Trends for 2021 and Beyond | AIHR Digital, n.d.) 
Source: ( HRExecutive.Com, n.d.)
And in the midst of all this chaos, companies naturally turn to HR for the answers. As per Kaushik et al., (2020) HR departments of many organizations have been on the frontline, facilitating employees, handling business requirements, managing concerns and questions of their employees, supporting them, and focusing on people’s mental and emotional well-being.
The following case of Renowned Financial services company in USA make a blueprint for organization all over the world to face this circumstances.
Case of Ally Financials,
USA.
Ally Financial is a bank holding company
organized in Delaware and headquartered in Detroit, Investment, banking,
Mortgage lending and insurances are the main businesses(Banking, Investing, Home Loans & Auto
Finance | Ally, n.d.).
Source: (Banking,
Investing, Home Loans & Auto Finance | Ally, n.d.)Ally has really gone above and beyond to show
incredible support to their employees and their families during this stressful,
scary and uncertain time. As per the Forbes, n.d. Some
other employee benefits that Alley offered.1.All employees deriving $100,000 or less per annum , will receive a $1,200 financial assistance
payment to help cover unexpected costs related to WFH.
2.Ally added 100% coverage for diagnostic
testing and the associated visit related to COVID-19.
3.Immediate paid medical leave for any
employee diagnosed with COVID-19.
4.Expanded childcare support: When daycare or
adult/elder care arrangements are disrupted, Ally will cover 30 uses of
emergency care.
5. Employees with monthly or quarterly
incentive plans were assured that Ally would account for COVID-19 impacts
to operations.
6.Access to free mental health professionals,
via phone or text, through the Employee Assistance Program.
7.Free financial planning support, including
access to certified planners and credit monitoring.
8.Paid caregiver leave for employees caring for
an ill family member.
9.Well-being modules and challenges geared to
staying physically and mentally healthy at home.
2.Ally added 100% coverage for diagnostic testing and the associated visit related to COVID-19.
3.Immediate paid medical leave for any employee diagnosed with COVID-19.
4.Expanded childcare support: When daycare or adult/elder care arrangements are disrupted, Ally will cover 30 uses of emergency care.
5. Employees with monthly or quarterly incentive plans were assured that Ally would account for COVID-19 impacts to operations.
6.Access to free mental health professionals, via phone or text, through the Employee Assistance Program.
7.Free financial planning support, including access to certified planners and credit monitoring.
8.Paid caregiver leave for employees caring for an ill family member.
9.Well-being modules and challenges geared to staying physically and mentally healthy at home.
What can other companies learn from Ally?
1.Host
a Gratitude Challenge.
2.Focus
on Mental Health.
3. Encourage Virtual Workouts.
4.Offer Financial Assistance
5. Stay Connected.
Local Context.
Conclusion.
References.
Banking, Investing, Home Loans & Auto Finance | Ally. (n.d.). Retrieved August 7, 2021, from https://www.ally.com/
Beyond COVID-19: Thriving in a post-crisis workplace in Sri Lanka. (n.d.). Retrieved August 7, 2021, from
https://www.pwc.com/lk/en/crisis-solutions/covid-19-sri-lanka/beyond-covid-19-thriving-in-a-post-crisis-workplace-in-sri-lanka.html
Daily update on how HR deals with COVID19 | HRExecutive.com. (n.d.). Retrieved August 7, 2021, from
https://hrexecutive.com/a-daily-shot-your-covid-19-update-2-2/
Dissanayake, K. (n.d.). Encountering COVID-19: Human resource
management (HRM) practices in a pandemic crisis.
Forbes. (n.d.). Retrieved August 7, 2021, from https://www.forbes.com/
How One Company Is Taking Care Of Employees During COVID-19. (n.d.). Retrieved August 7, 2021, from
https://www.forbes.com/sites/alankohll/2020/04/06/how-one-company-is-taking-care-of-employees-during-covid-19/
Kaushik, M., Guleria, N., & Professor, H. (2020). The Impact of
Pandemic COVID-19 in Workplace. European Journal of Business and Management
Www.Iiste.Org ISSN, 12(15). https://doi.org/10.7176/EJBM/12-15-02
Your Friend Andy, n.d. Ally Bank Review: Is It Worth It in 2021?
Available at : https://www.youtube.com/watch?v=apnY-JAuq9I&t=170s
[Accessed 7 August 2021].
Posts
Well written article on how to respond to current/pandemic situation as an organization specially from HR perspective
ReplyDeleteInformative article and well written, as you correctly conclude Oshadha, developing countries like Sri Lanka face many difficulties specifically in private sector organisations since most of them having less capital to survive in the pandemic. Hence we are still in a struggle to do such HR best practices done by companies like Ally.
ReplyDeleteThank you for your valuable addings and feedbacks.
DeleteAlly’s prompt action towards employees is really amazing . Since employees are the most important asset of the organization amd alo most complicated asset, HR function is so crucial at this kind of unpredictable situations . It’s true that private sector of the developing countries like SL is not yet capable of facilitating Comfort during these type of difficult time .
ReplyDeleteThank you for your valuable addings and feedbacks.
DeleteAttractive article with a logical topic.
ReplyDeleteThe pandemic Covid 19 outbreak has taken a heavy toll on everyone's life, but the high risk poses the greatest threat to employees. through your post, you have described how 'ally finance' successfully faced the situation. so it can be useful for other organizations.
Thank you for your valuable addings and feedbacks.
DeleteGreat respond by Ally to overcome the situation while retaining and caring about its human resource and belongings. It’s true that most companies don’t have any succession plan to overcome such situation like global pandemic. But it’s important to observe what Ally did to manage their most important asset while continuing to achieve organizational goals with retaining the motivation of its employees. This pandemic situation will be a role model to reengineering the SHRM process with a new vision.
ReplyDeleteagreed & thank you for your feedback
DeleteAgreed Oshadha. Previously role of HRM was just limited to managing employees efficiently. In the wake of the coronavirus this role has been fundamentally changed and employee health,and wellness benefits going to be the game changer. Thankyou for sharing.
ReplyDeleteagreed & thank you for your feedback
DeleteGreat article and your article provides more sight to whole society than just for organisations. I agree with your argument on being concerned about employees as you discussed in this article. This prevailing pandemic situation is surely opening a new era of HRM evaluation. Therefore thank you for sharing this blog.
ReplyDeleteagreed & thank you for your feedback
DeleteI completely agree with your conclusions. The Ally's fast response to employee complaints is outstanding, as is being discussed and elaborated. When a worldwide epidemic is discussed, most organizations begin to adopt innovative HR practices in order to overcome shortfalls. Excellent article. Oshadha
ReplyDeleteThank you for your addition Praveen.
DeleteThe employees are the greatest assets and the steps Ally Finance have taken and the role played by the HRM is a unique example how the employees needs can be achieved and satisfied regardless of situation. The author has well described. Worth to read.
ReplyDeleteGreat post. Ally finance treated their employees in a highly responsible manner during this uncertain period and at the mean time Ally has provided a good example to other companies too. Consumers and employees want to know they are working with companies doing good. Discerning companies that have heart will take this time to do genuine good, whether for their employees or communities, and will reap the benefits when this storm has passed.
ReplyDeleteTo be sure, many businesses' HR departments are unprepared for the impact of a global pandemic. Global organizations like as Ally, serve as a model for developing countries and organizations in terms of how to adapt and restructure their stated goals. Great article, you make a good case study.
ReplyDelete