Hyderabad, April 18: Corporate behemoths which do not think twice before offering remuneration in crores for their CEOs, become surprisingly tight-fisted when it comes to payment to the lower rung employees, industry experts observe.
Despite severe attrition rate, Human Resources departments of the companies apparently do not believe in spending for the necessary training nor do they increase the base remuneration of employees to retain them.
As a result, more and more employees leave corporate jobs within months of joining them, either demoralised or disenchanted or both.
“Most corporate firms’ pays are fixed at the lower level and variable at the higher levels. But how will you live if you are not even getting in hand Rs.6, 000-Rs.7, 000? It will be more difficult if you are living in city away from home as most of the employees from rural areas do,” says T. Muralidharan, the Managing Director of TMI e2E Academy set up to address the gap between the skill set of the unemployed graduates and the expectations of the corporate sector.
The HR wings of the companies, accustomed only to the culture of minimising the costs, are not even keen to spend on the employees’ training, he complains.
He cites an example wherein the deal between TMI and a well-known corporate firm fell through solely because middle-level managers of the company refused to share the training expenditure.
The mandate of the academy set up in collaboration with National Skill Development Corporation is to equip fresh graduates and diploma holders with the necessary skills to fulfil their roles in various departments of corporate companies.
Pre-enrolment offers
The chosen candidates would receive pre-enrolment offers for entry level jobs, and cost of the training is to be shared between the candidate and the company.
After 18 months of continuous work, the employee will be paid a ‘retention bonus’ commensurable with the amount he or she paid towards training cost.
“This particular company refused to pay the initial fee as also the retention bonus. One can imagine the mindset of the people who wouldn’t mind shelling out huge sums for CEOs but refuse to pay the workers enough for survival,” Mr.Muralidharan says in desperation.
He blames the HR heads and middle level managers solely for such state of affairs, and says there is a consensus largely at the top echelons about the need to be more open.
However, it is high time they realised their role in a country with a predominant majority among the unemployed desperate for a living.
–Agencies