On the one hand I keep cribbing about the high cost of financial services, on the other hand I meet kids, young people and people over 45 who are constantly being sacked.

The sackings have not been done nicely too. It is much easier for the top management to sack ‘200 Feet on the Street’ or Trainers, or…..rather than sack a bunch of Vice-Presidents. Sure a few Vee Pees have been sacked, but the cruelty is at the lower levels.

Sadly the HR heads can be faulted on the following counts:

– they never questioned the Empire building MD when he went about building a 28,643 man team to sell some financial product.

– they never attended strategy meetings which were discussing business in various regions

– they did not spend enough time on employee feedback

-when sales needed people, tress-passers were recruited, and promoted to Vee Pee’s post

– Senior people were allowed to build own fiefdoms – geographic, caste wise, etc.

All the recruitment was unscientific, and now the sacking is unscientific.

A simple thing for some of them to do is to speak within the group (a life insurance can always place its people with the parent bank or associate bank, right?), or speak to HR agencies and out place the people.

Such people can always be given a room, access to the net, one printer, a few phones so that they can sit there and call prospective employers…etc. During this time they could even be allowed access to common facilities like canteen etc.

Sad the H is missing in most of the HR activities – more due to lack of imagination rather than lack of money.

If you want to see India 2025 read this:

http://www.independent.co.uk/opinion/commentators/owen-jones-my-father-and-the-reality-of-losing-your-job-in-middle-age-7546015.html?fb_action_ids=10150721075553134&fb_action_types=news.reads&fb_source=other_multiline#access_token=AAADWQ6323IoBAC883hkSSDz3sUlUVUArLaAvLmIOwMI4ZAotwBaVVbIMUQr27ZCiP9XVxqlGZBUCs7aVH3ZACorwFt8r4ipXKtwHZAWZAdsgZDZD&expires_in=5610

 

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  1. Though intention is good, it is not good idea to keep people, who are let off, to be in esp financial company or its premises. They will have big lifestyle, EMI from same bank Na (LOL). Even if 0.1% does some mischief in desperation/frustration, it is bad for company.

  2. Well, their looted money is over so they had to borrow beyond their means, any guesses where that would end?
    But Pranabda must be thrilled with this kind of article. Blow up in NREGA and other leaky welfare schemes and then raise taxes. One idiot commentator on television even said we have to ‘bite the bullet’.
    As you rightly said who built the empire first in private sector and who doled out subsidies in government?
    Sadly jokers on both sides will find the next job waiting so they can rip-off the next bunch..

  3. Subrabhai I know two people who were foreign bank hi fliers and asked to go with short notice, at times like these I see the wisdom in working for a bricks and mortar stalwart like the Tatas.

    I guess if one is over forty then the writing is more or less on the wall and a contingency plan needs to be active, the date can be pending as to the actual event.

    Yes, I belong to this august group of the older 🙂

  4. Subra Sir,

    “H is missing in most of the HR activities”, this is happening across all sectors where people are used as assets.

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