Recently saw a ‘reputed’ group promoted life insurance company treat its employees shabbily. Norms were made to sack people. So a large scale sacking happened.

When the large scale recruitment and branch opening was happening we were at the side lines saying ‘chuckle, chuckle…’ Now we cannot say chuckle, chuckle,…because a few thousand jobs have been lost.

People who strategised the earlier grand plan of recruiting and super scaling of all departments have of course still retained their jobs. Perhaps promoted.

No attempt (genuine ego crushing effort) was made to keep these people in other group organisations. Then they issued a statement saying ‘Non performers have been sacked’ (chuckle chuckle once again)…so kids who had spent 7 months in doing data entry jobs could not find a job in the group companies…

Then the company had some stupid achievement celebration – so stupid that it is not worth writing about.

Now it was the agents turn to be treated badly…..

If a company treats its employees and agents so shabbily…what gets YOU the feeling that the policy holder and the shareholder (unknown faces) will be treated fairly…I have my doubts..

No prizes for guessing the name of the company…but yes feedback welcome.

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  1. Subra, many reputed groups are in Life Insurance Business, it is difficult to guess the RIGHT group.. Of course, being just a guess, we can always make one.

    The ‘Management’ has hardly any experience in such things NOR has a humane outlook. Moreover, the Board may have decided some targets and the ‘Management’ may just be following it. Competition and losing market share necessitates expansion and when IRDA (read SEBI) cracked whip, the ‘Management’ had to control expenses (because of margin erosions).

    Not sure whom to blame. I have only one thing to say. I see this happening more and more in corporate world.

    Tighten your belts.

  2. I believe its common practice in software verticals and now its spreading in other industries also …

    Mass recruitment and mass layoff is one of the best management practice (or say worst) we learned from western MNCs which becoming a side effect in India growing story …

    Sadly this culture will only increase.

  3. Hire & Fire.. lot many companies follow it and recession made it worse
    lot many s/w use performance as an reason for PR or forced ppl to resign

    sadly it spoils the trust & loyalty to employer

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