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NO PERFORMANCE LINKED PAY PACKAGE TO COMMON TECH EMPLOYEES BUT ONLY CEO “SIKKA” GETS RS 49 CRORE ($7.45 MILLION OR $11 MILLION) IN INFOSYS?

 
 
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NO PERFORMANCE LINKED PAY PACKAGE TO COMMON TECH EMPLOYEES BUT ONLY CEO “SIKKA” GETS RS 49 CRORE ($7.45 MILLION OR $11 MILLION) IN INFOSYS?
by System Administrator - Saturday, 11 February 2017, 4:23 AM
 

By : M.S.Yatnatti Editor and Video Journalist Bengaluru : In Indian context pay packages are critical one getting more and another less in same work same qualification creates heart burns. If pay packages all are linked to performance then every employee pay package need to be performance linked and not just that of "Sikka”. High sikka pay means break down in value system as sikka was brought from outside Infosys ignoring high performers within Infosys. Kiran Mazumdar-Shaw, an independent board member of Infosys and chairperson of biotechnology company Biocon, is reportedly on record stating that Just because Sikka's payment is higher than before does not mean there is a breakdown in the value system. It is all linked to performance. If you consider the performance he is supposed to give us, it is a daunting one. The kind of goals you are giving Sikka, if he pulls it off, he deserves it. If he cannot deliver on the goals, he would not get it. Don't you think everybody who worked so hard to build this great company also got rewarded? But she failed to bring on record it contribution of financial goals by several lakh Infosys employees tech graduates and post graduates and doctorates who are relentlessly work for the company and deliver on the goals and not "just Sikka” need to rewarded and if her statement be taken as recorded in news paper reports about financial goals that were given "Sikka” alone and if he alone pulls it off and he alone bring financial goals and not the several lakhs employees then his financial innovation which brings financial goal set by Infosys board to "Sikka” need investigation by CBI and NIA and ED as seemingly the income brought without tech employees contribution is illegal and violation of Indian laws . If pay packages all are linked to performance then every employee pay package need to be performance linked and not just that of "Sikka”. A common man can understand this equation why Infosys board need inputs from experts. Infosys while strongly denying any governance lapses by its board, said that it had recently appointed the law firm of Cyril Amarchand Mangaldas, described as "corporate governance experts", to receive inputs from the promoters and other key stakeholders, to evaluate them and make recommendations to the board .The board need to act overall interest of its all employees and shareholders and not just to full fill the greed of its CEO and board members and its management .

"The issue is not with Vishal Sikka, but with the quality of governance at the board. It has slipped," said NR Narayana Murthy , cofounder and first chairman of Infosys. Murthy, along with his family, is the single largest individual shareholder -3.44% -in the company .There has been intense speculation that the founders are at odds with the company's board and have red flagged governance concerns over the past year. Is it normal at Infosys to accept 12 months as severance pay , when the norm for all others is three months?' It is the work of the chair of the remunerations committee to do that. When CFO Rajiv Bansal left, should he have got 30 months' severance pay? That is 10 times the norm at Infosys. What is the real reason behind such an extraordinary payment?" Bansal, incidentally, left Ola, which he had joined after quitting Infosys last year. He was concerned at the impact of such payouts on employee morale at Infosys. Murthy said: "What kind of signal does this send to employees ?So many employees at senior, middle and junior levels at Infosys are unhappy . I've received over 1,800 emails from various employees expressing their unhappiness at this situation. The common question they have all asked me is: `If it is fair that they got only 80% of the variable part of compensation, while somebody who has left the company is given 100% variable for the next two years after leaving.' These are a subset of the governance issues."

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