Putting employees under performance scanner seems to be the new thing at IT companies. The country's largest software company TCS has
reportedly put its 1,000 employees under performance scanner.
The Mumbai-based IT company joins its smaller rival Infosys which too has put around 5,000 of its employees under the so-called performance scanner.
Incidentally, TCS spokesperson denied that the company's performance improvement plan is any different this year than previous years. The spokesperson claimed that this is an annual exercise to ensure that we continue to drive delivery excellence for our customers. Less than 1% of our workforce has been put under the scanner in the current fiscal.
Last year, the company had asked 500 employees to leave after a similar performance improvement plan.
Recently, in a client note, brokerage CLSA Asia-Pacific Markets said that TCS has seen project cancellations in the last four weeks. Quoting TCS chief financial officer S Mahalingam, CLSA said that the company sees slowdown in demand bottoming out in the March quarter and expects a recovery in the June quarter.
In Infosys case, the company has asked senior managers (project managers, senior and group project managers, delivery managers) to give lowest performance rating (4 on a scale of 1-4) to the 'underperforming' 5 per cent as a part of its consolidated relative ranking (CRR). Though lowest rankings are not new in the company, this is the first time that Infosys has made it compulsory.
Some 40-50 sales executives at Infosys too have been reportedly asked to quit in the last two months. Most of these were located in the US and were from consulting background.
Article Source:http://infotech.indiatimes.com/News/TCS_puts_1000_emp_under_scanner/articleshow/4160704.cms
reportedly put its 1,000 employees under performance scanner.
The Mumbai-based IT company joins its smaller rival Infosys which too has put around 5,000 of its employees under the so-called performance scanner.
Incidentally, TCS spokesperson denied that the company's performance improvement plan is any different this year than previous years. The spokesperson claimed that this is an annual exercise to ensure that we continue to drive delivery excellence for our customers. Less than 1% of our workforce has been put under the scanner in the current fiscal.
Last year, the company had asked 500 employees to leave after a similar performance improvement plan.
Recently, in a client note, brokerage CLSA Asia-Pacific Markets said that TCS has seen project cancellations in the last four weeks. Quoting TCS chief financial officer S Mahalingam, CLSA said that the company sees slowdown in demand bottoming out in the March quarter and expects a recovery in the June quarter.
In Infosys case, the company has asked senior managers (project managers, senior and group project managers, delivery managers) to give lowest performance rating (4 on a scale of 1-4) to the 'underperforming' 5 per cent as a part of its consolidated relative ranking (CRR). Though lowest rankings are not new in the company, this is the first time that Infosys has made it compulsory.
Some 40-50 sales executives at Infosys too have been reportedly asked to quit in the last two months. Most of these were located in the US and were from consulting background.
Article Source:http://infotech.indiatimes.com/News/TCS_puts_1000_emp_under_scanner/articleshow/4160704.cms
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