Going through the article on 600 cars being gifted by Gujarat diamond merchant, I realize, how the IT industry treats its employees. In 1990s TCS used to pay 1 month of salary as a bonus during Diwali. Later in the same decade, they switched to 1 month of basic as a bonus. In the year 2001 they moved away from bonus and gave every employee a box of sweets and by 2005 the sweet box is been taken out and everyone is given 1 sweet the day before Diwali. Now TCS does not even give a single sweet. TCS states that the salaries in 1990s were low and so are compensated with Diwali bonus, but it fails to acknowledge that the $/Rs back then was on only 35 and now it is ~75. Most importantly it fails to recognize that they miserably downgraded themselves on how fairly they treat their employees.
Surprisingly when you are placed onsite working for a client in US or UK, the client throws a party on Diwali and many client employees turn-up in Indian dresses to wish you. It makes me feel that when even the client and their employees care for our people, our own employers stopped caring for us long back.
The diamond industry is not even fully dependent on employees, the raw material is diamonds and not the employees. On the other hand, IT industry is fully based on employees and in fact the employees are the raw material for the business and they earn every dollar that the company makes. The IT companies in west do realize this fact and treat their IT work force happy by giving them paid holidays, 401K (pension) and countless benefits. Our leaders only know how to exploit the slaves but do not know how to care for their own people and so remains the fate and state of our nation.
TCS accumulated a cash pile of Rs.50,000 crore over a period of last one year. Essentially 4 Lakh employees worked hard and saved/earned 25 Lakh rupees each (after taking meager salaries) to build the pile and they continue to slave and gather more and more for the Tatas. The salaries at TCS are at least 8 Lakh rupees/per annum lower per employee/per year compared to how they were back in 2001. Please refer article TCS Makes India Poorer in Favour of Foreign Companies
If TCS paid every employee fairly (equivalent salaries they paid in 2001), Tatas would still have a cash pile of Rs 32,000 crore today which is again hard earned money of each employee. Even if TCS gifts each employee 1 Tata car with an average price of Rs 6 lakh per car, the cash pile would only come down by Rs 24,000 Crores.
Imagine if Tata gifted 1 car to each of their TCS employees, it is essentially a new demand for 4 Lakh cars that undoubtedly will make Tata Motors one of the largest car makers in India and pull it out of its current crisis.
The point is firstly we are not paying our employees fairly, then we are not even treating them fairly. The whole thing is only possible because of mid and senior level leaders act like brokers, take whatever they can get from the misery of people below them and agree to the terms of the employer. Are they atleast being paid decently enough ? Please refer how PayTM boss’s personal assistant is paid :
7 Lakh to 85 Lakh Salary, Inside Story of Sonia Dhawan, The Woman Who Blackmailed Paytm Founder,
Paytm Extortion Case: New Twists Emerge, Questions On Nature Of Stolen Data Remain Unanswered
When the midlevel management is not even paid equivalent to the personal assistant of PayTM, then why do they surrender themselves to the slavery and let all the employees below them be subjected to slavery?
Some comments on this issue by
“How the leave requests are handled during the festival days. Due to rotational policy of leave not everyone leaves accepted for travel on next day of diwali. Due to this associates starting traveling on Diwali evening in higher price of ticket which doesn’t make employees to enjoy it fully. TCS stopped gifting sweets to employees due to cost cutting initiative during 2006- 2007 recession.”
“This is good article but common to all companies. So no need to specify TCS explicitly but in general way like leading IT companies like TCs, Infy, Wipro.”
“Very good article nowadays no company is ready to give even single kuchhi mittai or kuruvi rotti ”
“Corporates give bonus, not to employees but to investors”
Read the book “IT Employees Life – Fun or Problems?” by NDLF IT Employees Wing President Shyam Sundar