Friday, October 15, 2004

Dark Days : IT (Wipro, TCS, Infosys, Satyam) firms try out bonds to retain talent

The "dark" days are coming back.

Once upon a time, a lot of companies were asking for "bonds" to be signed up by employees which would prevent them from switching to another company within a certain period. Now, according to the article, it's just got even more stricter in these (Wipro, TCS, Infosys, Satyam) companies. This custom was more prominent amogst freshers. Later, at some point of time almost all companies did away with such practices understanding the true nature of freedom, belief and competition - or so I'd like to make others believe :)

However, it looks like history is going to repeat itself, as usual. The article quoted below talks about such practices coming up once again. It's unfortunate that companies resort to such tactics rather than being able to offer what is desired by those people quitting. Provide a challenging work environment, show commitment to employees and motivate them as necessary. Not the dumb headed way.

Afterall, whatz the point in trying to retain someone if they are no longer interested in you ? More so, would they cause more "harm" by continuing to stay rather than simply going away ? All these factors, good sense and a good economy prompted companies to remove such shackles.

... Companies like Wipro, TCS, Infosys and Satyam all have introduced bonds for freshers, making them sign agreements to work for a period of 12-24 months. ...

Read complete article here.

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