Jun 3, 2008

Salary Package - Trick or Treat

Greetings,

Here is another good one from the Turmoil Inc, the hypothetical company being run by an indian analogy series of Dilbert.

However, there is a serious thought behind every genuine humour otherwise people don't like it. Companies are seriously resorting to find ways to retain talent. One of the adopted ways is to offer inflated salary packages. Companies are resorting to include Variable component, Performance Bonus, Earned Leaves, Super Annuation, Gratuity and what not just to make the annual package look like a mammoth. However, under the skin of it, you will not find much flesh but a skeleton of bones padded with hopes and promises.

Here's why!! Super Annuation, Gratuity etc are never monthly or annual income components. You receive them after 4-5 years but guess what; not many people stick in the compnay for so long. Variable components are also trickily planned and your performance bonus is also linked to organization, BU and god knows what else's performance so you will never get it full. Even if you get 50%, cheer up. And since when ELs have become part of your annual salary package but listen to today's HR managers and they will tell you a list of other options that they plan to bring under your CTC umbrella so that on papers, you look like a king but in reality you get to eat beans, not chicken. HR managers are happy with their ideas because people are happy to become victims to such policies.

~ Navjot Singh