Now, companies retain talent with fancy designations

Now, companies retain talent with fancy designations
New Delhi: The next time you come across a Chief Belief Officer or a First Impression Executive or a Cost Kill Analyst, don't be surprised.
For many companies are offering fancy designations to employees, which not only makes them feel good but also help retain talent, according to HR experts.
"While the standard routes of promotions, bonuses and out of turn increments can be used, the organisation structures and the organisational economics limit the quantum. Fancy designations recognise significant contributions or niche positions and make individuals feel good," global consultancy Deloitte India's Chief People Officer Dhananjay Bansod told PTI.
Among fancy sounding posts are Chief Fun Officer, Chief Happiness Officer, Cost Kill Analyst, Business Partner, Specialist Analyst, Asset Desk Manager and Ambassador.
Staffing services firm Ma Foi Randstad India's CEO E Balaji said the trend of firms' offering fancy designations has accelerated and there are instances where Front Office Receptionists are described as 'First Impression Executives'.
"In many cases, people feel good with high sounding designations, even if the position does not offer better salary or more authority," he noted.
With increased use of new technologies and social networking sites, many companies are also having Chief Tweeting Officers and Chief Blogging Officers among others.
Fancy designations provide organisational flexibility to offer multiple roles to people apart from giving a degree of independence that in turn acts as a retention tool, experts opined.
"During slowdown, companies emphasised on giving fancy and higher designation to employees in lieu of salary hikes.
"This trend still exists as companies wish to keep up the excitement of their employees by offering them attractive designations," executive search firm GlobalHunt India's Director Sunil Goel said.
HR consultancy firm Development Dimensions International (DDI) India's Head (Consulting) Smita Affinwalla said that fancy designations helps to attract talent as well as create "social acceptability for certain positions".
The trend of fancy designations is mostly seen in services sectors such as Knowledge Process Outsourcing (KPOs) and in sales and marketing segments of FMCG entities.
Affinwalla noted that these designations are "prevalent more at the junior to mid-levels."