The policies of the company, I work for are best described by the above words. Its a broking company, part of a well diversified and highly capitalised group which is the key highlight in almost all forms of advertisment done by the company. However, when it comes to employee satisfaction none can beat this organization. Barring, the last quarter, the last FY was the best in terms of top line, bottom line and any other kind of line for broking firms/firms related to capital markets. Having said that, we employees were expecting a good appraisal and hikes, but the company had something completely else in mind. When asked about appraisals, our esteemed CEO blankly stated "Its out of the question!" Employees who worked really hard to contribute to the owners already fattening pockets are being told staright that appraisals itself will not happen. The reason is one bad quarter where the markets went against everyone and the company can not afford to increase costs. The company however, made a tidy sum of profit in that quarter as well. And new recruits are being taken in at enormously high packages. What surprises me most is the fact that such a large organization does not realize that it is willing to spend lacs p.m. on new employees in new salaries but will not spend thousands in appraisals for existing ones.
RE:Very happy
by Aalok Kapoor on May 20, 2008 10:48 AM
Mee too got 45% this year. Although its less than last 2 years when I got 60% and 55% appraisals.
In most Organisations, Appraisal is just a way of justifying a decision already taken by the Managements on the career advancements of employees.
In many cases, there are assessments made by colleagues too. In such cases, it is rare to ask the colleague to justify his/her assessment and there by personal prejudice gets a say.
If conducted properly and without any bias, Appraisal will be a very good tool for the performance of the Organisation. After all a satisfied employee will perform better.
I worked in a very reputed Indian Software firm where they boast that they are the no.1 software exporters and they have social responsibility as well.Well all that is a nothing but a hipe.This company boasts that they got thousands of crores of profit but with in the company, they say the target is not met and they took back the samll ammount of money given to tha employees.Very shame for a multi million dollar company. Only certain group people will be given promotions, good ratings,etc etc.When the shares are at their peak, the share holders will enjoy the benifits but when there are cirsis like US dollar depriciation, the employees salary will be cut.Working in this company resembles the saying "Rich are becoming richer and poor are becoming poorer". Only talent is not enough to prove in this company but you need to be cunning and lucky.After I left this company, I feel that I am out of hell and very happy that I took a decision at the right time.
RE:Appraisal...Its jus a drama.....
by dddelhi on May 20, 2008 10:45 AM
you have taken a right dicision my frd... i am also suffering in this same org..whatever you wrote here is defacto true....
RE:RE:Appraisal...Its jus a drama.....
by Aalok Kapoor on May 20, 2008 10:51 AM | Hide message
Well. Work brilliantly and get salary. Thats the funda of IT industry. Also choose companies carefully. Not all BIG companies are good. Small firms with good projects give gud appraisal. I am getting 7.1L PA after 2.8 years of experience. At the same experience my friend is getting 9L PA at Avaya. So dnt blame IT. Its the highest paying industry in India and thats the reason why other sectors employees hate IT.
RE:Appraisal...Its jus a drama.....
by jagdeep on May 20, 2008 10:56 AM
agilent tech kaisi co. hai ?
This is the exact phrase that rocked my mind when I got to hear the hike numbers for myself..this inspite the fact when I had already let known my expectations from the appraisal in advance...
Anyways was not left with much choice but to look for opportunities in other companies and finally managed to change jobs in 2 months time..
I do not understand one trend which is very common in almost all the (IT) companies. These companies will not give a good appraisal to their current employees, but would be more than willing to hire a new person for the same job on a much higher salary as compared to the current employee.. and then they have to talk abt the high rate of attrition !!!
RE:Are you working for peanuts ??
by jagdeep on May 20, 2008 10:49 AM
bhai IT compnaies make people work like dogs but after 1-2 years these people who work like dogs get tired. so these compnaies want fresh dogs to replace existing ones.
RE:Are you working for peanuts ??
by Anand Gupta on May 20, 2008 11:14 AM
to add to what u have to say...if these "dogs" wish to stay, then they are made to work like "mules"..
My piece of advice..understand ur potential and make the right career move !!
RE:Are you working for peanuts ??
by jagdeep on May 20, 2008 11:17 AM
but there are just 10-12 IT firms in india. they have formed a cold alliance of sucking blood of employees.
what they will do is hire freshers from colleges give them 25k p.m, make them work for 2-3 years and then dump them and leave them jobless forever ..
first of all i will like to prove a notion wrong that appraisal discussions are not to decide your salary. It is pre-decided. true sense of appraisal discussions are to get to know the strengths and weakness of yourself which you can improve upon in future if required. I had 2 appraisal's till now which were very informative and helped me improve a lot. It helped me grow both monetarily and as an individual. Also one more important thing about appraisal is you can put down your grievances which again depends on your appraiser that whether will be listened or not. I will only say a bad appraisal doesn't end up your life. There are many appraisals coming down your life and someone might turn out to be good also...so cheers!!!
This is excat phrase line of a famous job portal advertisement which struck me when I got to hear the numbers for the current year.. this inspite the fact that I had already let known my expectations of the appraisal to all who mattered...
Anyways was left with no choice but to look for opportunities outside the current org and finally left the job in another 2 months time.
I wrote a message on 5th page about my aprisal. I got 45% hike THIS YEAR. and very happy. Work for a software firm at Pune in Sharepoint technology. Previous package was 4.9L per year. Now its 7.1L.
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RE:RE:My Happy.
by Aalok Kapoor on May 20, 2008 10:44 AM
Well Man looks like You don't know anything about IT industry yet. I wrk for Covelix Technology at Pune.
Indian companies are just like harlots... they will show you everything and when you go to fk, they will take off your pants,shirts everything and in the last you will get nothing but diseases
