Charu Purohit Interview: Design the best Compensation and benefits plan

Introduction

In this conversation, Charu Purohit, an experienced HR professional, discusses various aspects of working in HR and the challenges faced in different work environments. She shares insights on choosing a career in HR, maintaining work-life balance, and the differences between working from home and working in an office. Charu also highlights the importance of mentoring and the challenges of remote working. She emphasizes the need for startups to focus on building a strong culture from the beginning and offers advice on compensation and benchmarking in startups. Overall, the conversation provides valuable insights for HR professionals and startup founders. The conversation explores various strategies for startups to attract and retain talent in a competitive market.

It emphasizes the importance of personalized experiences and customizations. The discussion also delves into compensation strategies for startups, highlighting the flexibility they have in offering equity and variable pay. The concept of a high risk, high gain model is introduced, suggesting that startups can design compensation plans that align with their risk profile. Tying compensation to performance is discussed as a win-win approach, providing confidence to candidates and incentivizing performance. The conversation concludes with the idea of rewarding loyalty over time to address the flux of people in startups.

Full Podcast Interview Video

Part 1

Part 2

Key Takeaways from Charu

• Choosing a career in HR requires considering the potential for growth and the opportunity to make a difference.
• Maintaining work-life balance is crucial, and starting the day with a clear plan can help increase productivity.
• Remote working has its challenges, including blurred boundaries and the need for self-discipline.
• Building a strong culture is essential for startups, and it should be a priority from the beginning.
• Startups can compete with established companies by hiring for potential and empowering their employees.
• Staying connected with stakeholders is crucial for productivity in a work-from-home setup.
• Compensation plays a vital role in attracting and retaining talent in HR.
• Determining increments and bonuses involves considering market competitiveness and affordability.
• The use of the bell curve in performance evaluation is a common practice, but flexibility is important.

Podcast Chapters

Part 1:

About Charu Purohit

Charu is an accomplished HR leader boasting more than 15 years of expertise in Rewards and Talent. Her professional journey includes contributions to both multinational corporations and sizable national entities, providing exposure across India, the Middle East, and South Asia. With experience in matrixed environments, she has successfully led remote teams and spearheaded global projects, demonstrating her versatility and proficiency in diverse work settings.