Monday, October 5, 2009
HR News on 5th October, 2009
In spite of the adverse market conditions in the last couple of quarters ( Lay offs, retrenchments, cuts on salaries and incentives, compulsory unpaid leave doing their rounds etc.) India Inc, seems to have fared better than most other countries; as per the study done by Kenexa Consulting. Read more here.....
Finally, the austirity drive of the Government has reached where everyone expected it to reach. India Inc.
Mr. Salman Khurshid, the Minister for Corporate Affairs has advised India Inc. to refrain from doling out "vulgar" salaries to CEOs.
Sadly, the ministers' lack of understanding and appreciation of the market forces was clear when he said, "Remuneration should commensurate with the qualifications of the individuals (CEOs i.e) and the time they spent". Ironically, the minister seems to allot the same eligibility criterion as he would do for a government servant. ( where performance and value additions do not have any say on their salaries).
Click here to read more...
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