Given the times of lull in world business and the impact on top-line and bottom-line of organizations, companies have become extra-careful, even the overtly conservative ones (including Lalas) have gone ahead taking measures from announcing job cuts, pay cuts, umpteen internal cost cutting measures, right-sizing etcetera..
But, as they say, in business the rear-view mirror is clearer than the windshield. Most companies looking at the past year performance have announced no salary hikes for the coming financial year. On top of it, there's no significant inflation in India which demands a correction in salaries. That quite justifies action on any company's part. It's about time in a day or two that Indian corporate would start announcing posting to the public their financial statements, and it would be no wonder if most of them had shown significant achievement, if not achieving their set targets for the financial year 2008-09.
Organizations are certain they want to grow, and the results would show that they have grown and the future, though not as certain, fairly indicates that growth is assured. I believe companies should make their employees (they're pampered as talent assets) a part of their growth by showing some sign of sharing through increments if not bonuses (even as some companies have). How else would a company more emphatically reinforce their belief in their workforce? How else does a company assure that they are interested in the employees growth and not only the financial growth of the organization? How else can a company make sure the partners are actively involved in mutual growth without giving them a taste of the growth? There's no promises made for future even if companies do not want to announce salary hikes currently. Would that not be a question of will and just running for cover of recession?
I would like to do a little bit of analysis on growth of organizations, at least 5-10 big ones and see the impact.. but, let's wait till the announcements..