Thursday, May 19, 2011

In lighter vein: Public sector vs private sector-who is more fair and transparent

Liberalisation opened gates for large number of private sector businesses and along came loads of jobs. Jobs came fast and furious. With so many hired, has there been a system that can be called fair and transparent in private sectors? Not sure as they do not hire like PSUs do. PSUs advertise, call for test, at  each stage publish results and best out of the whole lot are hired. Clear and transparent. In private sector hiring happens through local systems that a company may choose to adopt. Advertise on different job boards, media, website, internal hiring campaign, or sometimes even without advertising. That's called liberalisation. But does that ensure, we have followed fair and transparent process? Probably not. As there is no audit or accountability to any government body or cell to publish, how fair and transparent their system has been in hiring till promotions, reviews and rewards. Liberaliation, while has opened gates for privatisation but it appears it has made people and system within the company management a little like unbridled rulers.Lack of proper accountability may have promoted lose systems and whims and fancies in decision making and thereby affecting the fairness and transparency.
My experience of having got offers from PSUs and other government services gives me more confidence in the system than in private sectors.
Private sector hiring in most of the cases, except for campus hiring is not so well planned as PSU hirings are.
Even selection of campus have been quite questionable many a times in private sector hiring. But that's the liberalisation code that we agreed to and it has helped a lot in growth but the question is not questioning growth but questioning, the fairness and transparency of the system.

While appearing for a government competitive examination and interview, I experienced that my performance will lead to result with much higher probability than I experienced in the private sector, where, even if score 100/100 at all stages, things may not turn in your favor as selection in private sector is not most driven by a formula that is established or can be explained and understood, but by hunches, gut feel, culture-fit, focus fit, long-term, short-term planning fit, etc.

When majority of jobs are there in the private sector, an uncertain system of hiring and growth of job or ucertain job market and hiring trends mayy derail lots of lives which will in turn affect lots of growth plans.
Housing loan is one such threat that has made people think twice before buying a flat or house, as uncertainty is unsettling lots of boats.
Hope things turn out and shape up for better.

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