Downturn…!!!
Posted on January 17th, 2008 in Technopark News) by cj |
Tagged Under : attrition, increments, salary, Technopark
Its the time of monsoon in Kerala. The months of June and July are the times of heavy downpour. But, this year it feels like that monsoon doesn’t want to keep its name even.Well, there is something else showing a sharp downturn.Its the time for appraisals and salary increments in various IT companies. Here it is heard that the condition is worse than the monsoon. Even the high profile companies in Technopark showed a steady decrease in salary increments this year. In some of them there has been a decrease of up to 50% this year in salary increments compared to that of last year and 100% decrease in some others. This doesn’t mean any decrease in amount of work, but the performance watch is being made strict too.
The company managements say that the decrease should be read along with the increase in fuel prices and the ugly face of world economy today. But it feels like some of the companies are taking these reasons for granted and excusing themselves to reduce increments or to completely put it off.Meanwhile, there is something else showing an increse. The attrition rate. The employees are forced to join new assignments with a better payslip. The experienced ones plays it well.
Though this is a bad situation for the employees, we can console ourselves of hardly any job cut-offs in Technopark companies, like in the stories from our friends in Bangalore and Hyderabad. Or is it coming over here too…?