Company Policy
Meaning & Definition
Company Policies are formal documents establishing written requirements, rules, and procedures that an organisation uses to govern its operations and define employee expectations while they are at work. A company’s policies will typically define the way its employees should behave and perform in terms of Attendance, leave, Conduct, Performance, Security, and Compliance (these areas ensure that all employees are treated equally and fairly by the organisation).
Important aspects of Company Policy
- Provides employees with clear workplace expectations and rules,
- Promoting consistent and equitable treatment of employees.
- Assistance to HR in managing employee behaviours, performance and disciplinary actions.
- Provides a means for reducing workplace conflicts, confusion over workplace policies, and disputes related to policies.
- Assists with the company’s compliance with labour laws and organisational standards.
Policy & Compliance Guidelines
It is important for companies to create and implement policies that are consistent with Indian labour law.
Policies regarding working schedules, leave entitlements, and salary payments should adhere to the laws and regulations of all states and territories under which the company operates.
Disciplinary and termination procedures should follow the principle of natural justice, and any policies about sexual harassment are required by the Protection of Women Against Sexual Harassment (POSH) Act, 2013.
Company policies must be written, communicated, and made known to the company’s employees. Although Company Policies are considered internal documents, they do need to comply with all regulations regarding government statutory labour law.
