Company Policy | Meaning and Definition

What is Company policy?

Company policy meaning is a policy that is in place to create the standards of behavior inside a company, defining both workers’ and employers’ duties. The goal of corporate policy and procedure management is to preserve both workers’ rights and employers’ commercial interests. Different policies and practices define standards for employee behavior, punctuality, attire, privacy, and other areas connected to the terms and circumstances of work, adapted to the needs of the business. 

Type Of Company Policies 

Here are some company policies –

  • Employee Conduct Policies – As a condition of employment, an employee conduct policy defines the obligations and responsibilities that each employee must follow. As a guideline for appropriate employee behavior, conduct regulations describe items like correct dress code, workplace safety protocols, harassing policies, and computer and Internet use policies. Employers can use such policies to specify the measures they can use to penalize employees who engage in inappropriate behavior, such as issuing warnings or terminating them.
  • Attendance Policies – Employee adherence to work schedules is governed by attendance policies, which provide standards and criteria. Employees’ ability to arrange time off or alert superiors of an absence or late arrival is governed by attendance regulations. This guideline also outlines the ramifications of failing to stick to a schedule. 

FAQs (Frequently Asked Questions)

Code of conduct, terms of employment contract, wages, bonus, leave policies are some of the basic policies of any organization.

Here are some of the steps an organization can follow while making a certain policy:

Step 1: Identify the Need for a Policy
Step 2: Determine Policy Content
Step 3: Obtain Stakeholder Support
Step 4: Communicate with Employees
Step 5: Update and Revise the Policy

HR policies are formal rules and regulations that helps to define how certain matters are dealt in organization.

Get 20% off
HR & Payroll Software