Recently, in India, we have seen a lot of debate and controversy in one of its top IT company Infosys over paying of a generous severance package to a Top exiting Manager.
NarayanMurthy, one of the founders and owner of the Company, who was till recently the CEO has raised concern. Yet, another camp maintains that this is an industry wide practice.
Now, this has been a practice not only in India, but in United States, some European countries, Japan as well as China where the top Management walks away with hefty bonuses and packages. Yet, the lower and even middle rung of employees have been struggling with low or no pay increases, barring a few.
And no, not all of those employees are mediocre, or bad performers.
Sometimes, even 1 raters and star performers are getting much below what they deserve.
When they raise the concern, they are pacified by saying that they should look more in terms of satisfying and great work, that client satisfaction ought to be their priority, and that one should not always talk in money terms.
Oh, its so laughable!
Why don’t any of the top managers say that – “Hey, I do want good renumeration. I do like good bonus, but I would distribute 5% (or some other x%) of what I have got to my employees, whose sweat and sacrifices make the day for my company!”
In the past too, we have seen CEOs living on a token amount.
This is not to say that a CEO takes just $10 or Rs.10,000/- per year from his or her company’s payrolls, but there ought to be a better distribution and not as skewed as it is today.
What do you say?