By Jayakishore Bayadi
What I feel a major discrepancy in the corporate India, when compared to the corporate America is the lack of audacity to “Accept the bitter facts”. In the west every thing is open, may it be economy, society, life…or anything. The practice is being seen in the times of recession as well. That’s why the American corporations openly and gallantly state even if they are at the verge of sinking or laying off people or any thing that’s bad is happening to their establishment.
However, it’s not true with regard to corporate India. Many were not at all aware that layoffs are happening in Bangalore as well, till it reached its peak in recent days. According to a news source, several IT/ITes companies are trimmed down on an average of 15 percent of their workforce. Hardly very few companies are recruiting freshers as of now. Over 5000 people have been affected due to U.S downfall driven recession in Bangalore alone, what a source said is to be believed.
That’s what the difference. If you read Forbes or Fortune Magazine nowadays you’ll get a constant update on what’s happening in the U.S economy continuously. Also, there are regular updates on layoffs as well! Sadly, I believe Indian media has failed give a clear picture of what’s really happening in the industry, except a few layoff coverages, that too of from the U.S companies. Of course, it’s not only the fault from the media guys. It’s just that, corporate India itself is hesitant to disclose the reality. In fact, media has tried its best at least to bring out the trends to peoples’ notice, though. However, corporate India should learn that openness is more effective to avoid public disconnect rather than hiding their failures, insecurities…and of course, so called brand image! And in fact, such a move can initiate public debates on what to do and not to do. Recent Citibank episode could be the perfect instance to quote here.
About five months ago, when I was talking to a top Satyam official in a press conference, he told global slowdown has got a silver lining, as this could be an opportunity well. But today nobody is talking about silver linings! The same industry leaders say: “Nobody knows what’s really happening. Nobody has the clue that when this mayhem will end?” Plus, now they are started saying openly that worst is yet to come! Alongside, many are still chanting like things will improve in next quarter…or in the end of 2009 and so on. It seems that when situation becomes hopeless, when there is nothing to hide…you cannot find better answers than these!
The lesson is crystal clear. At tough times like these, leaders should work towards instilling confidence in the industry by being bold and straight rather than just beating around the bush. That will really help.
1 comment:
I agree about the Indian companies not being transparent, i myself was under the impression that not much lay-offing in India... but I now know many of my contacts where their entire departments were sacked.
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