Demonetisation is bad news for you if you were planning a job change. Read why – YouIndia

Demonetisation is bad news for you if you were planning a job change. Read why – YouIndia

Attrition levels across India Inc are likely to fall to their lowest in the past few years, as employees prefer to stay put in their current jobs amid a cautious sentiment induced by the cash crunch following

demonetisation last month that has thrown businesses out of gear and led to a postponement of hiring plans.

With annual appraisals coming up, not many employees look to switch jobs at this time of the year in any case, experts said, but the number is likely to be lower still this time round because of fewer opportunities and therefore reduced bargaining.

“Voluntary attrition will definitely go down,” said Anandorup Ghose, partner at human resources consultancy Aon Hewitt India. “Last year it was around 16%; this year it may go down a few percentage points.”

“There is an apparent apprehension among employees now in looking for jobs,” said Ajit Isaac, chairman of business services provider Quess Corp.

S Venkatesh, president-group HR, RPG Enterprises, said, “People will stay put and hold onto their jobs until the negative sentiment blows over.”

Besides demonetisation, Venkatesh said, another factor that is likely to keep employees from changing jobs is that the much-anticipated boom didn’t quite materialise in the recent past. “Fresher hiring has gone down for many companies; even at leadership levels, movements have slowed down,” he said.

“It’s a wait-and-watch for executives at C-levels, which is likely to last for at least a quarter,” said Uday Chawla, managing partner at executive search firm Transearch India.

Managing and retaining talent has been high on the agenda of HR departments across corporate India since the loss of good employees is believed to cost a company four to five times their salary. In that respect, it’s advantage employers for the moment. “Attrition will definitely come down given the current macro environment,” said a Philips spokesperson. “Everybody is aware that if increments aren’t going to be great in their existing organisations, it won’t be much better outside.”

Source – The economic times

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Kalanithi Maran’s Salary is 62 Crore Annually (2nd highest in India)

Kalanithi Maran’s Salary is 62 Crore Annually (2nd highest in India)

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Kalanithi Maran is the son of the former Union Minister of commerce Murasoli Maran and grand nephew of former Tamil Nadu chief minister M Karunanidhi . His younger brother
Dayanidhi Maran was also a former minister. He married Kaveri, a native of Coorg in 1991 and has a daughter named Kaviya (Born 1992).

It’s obvious that the most profitable television network in Asia would fill the pockets of its bosses. While the group’s TV channels and news publications are concentrated in South India, its FM channels and DTH services and enjoyed pan India.

In 1990, Maran started a monthly video (VHS) news magazine in Tamil called Poomaalai657 which was stopped in 1992. On 14 April 1993, he founded Sun TV with an investment of US$86,000 from a bank loan. Sun TV was listed on the Bombay Stock Exchange on 24 April 2006 upon raising $133 million  for 10% of the share capital and catapulting him into the billionaire charts. He was among the few representatives at a roundtable with the visiting then US President Bill Clinton .

By 2010, he was the 17th richest Indian with net worth of US$4 Billion, and was the highest paid business man in India. Maran and his wife, Kavery Maran were ranked second in the list of Indian executive pay charts with a package of ₹62 crore (US$9.2 million) each for the fiscal year 2011–2012, behind Congress MP Naveen Jindal .
He has won Young Businessman awards from
CNBC and Ernst & Young, and Forbes magazine named him the “Television king of southern India”.

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