The post-Covid-19 workplace will see a plethora of changes to employee policies – from new pay slip components to tweaking of policies on Prevention of Sexual Harassment (POSH), information technology (IT) and leave – to suit the new environment.
Sectors such as IT and IT services, BFSI (banking, financial services and insurance), fast-moving consumer goods , consulting, automobiles and manufacturing are introducing more relevant salary components, said employment and labour law experts that are advising them.
“Companies across sectors are focussing on realigning their workplace and HR policies to suit the new normal,” said Anshul Prakash, partner, Khaitan & Co, a specialist in employment and labour law. “Components such as travel and conveyance allowance, fuel and driver allowances, and vehicle maintenance allowance may see an exit.” That’s because people will be cutting down on commutes as they continue with work from home (WFH).
The focus is on conserving cash and optimising operational costs, said top law firms, without naming the companies they work for.
“Many companies are looking to restructure traditional allowances like conveyance allowance and provide new and innovative allowances to facilitate working from home,” said Richa Mohanty Rao, partner at Cyril Amarchand Mangaldas (CAM).
Source: ET Tech
