Tuesday, January 22, 2013

Met lazy HR guys and got a job

I was reading an article in Financial Express, online, quite dated one, from 2005, in fact.
R Satya Narayana is the chairman of Career Launcher India. (IIM-B,batch of 1993) talked about what they do not teach at an IIM.

Though quite familiar euphemism, he mentioned, his words---


"Met lazy HR guys and got a job

Placement is the singular value that a top B-school offers. I also met some HR guys who came from a top corporate, saw me and promptly offered me a princely sum, in 1993, of Rs 5,200 per month. I did not know a single reason why I should be paid that kind of money. My father was drawing Rs 4,750 at that time after having worked for over three decades!
 Mind you, the word, 'lazy'! I wonder, the perception or understanding about HR folks has not changed in past 20 years (Read 2 decades, if that makes it appear sensational outrage)

Laziness in HR is such a dynastic lethargy, it holds like "royal blood" in its progeny.
 It is said, the last Mughal emperor Bahadur Shah Zafar II was caught by the english forces, as there was no one to put his shoes on and so he did not move.
Another interesting fact, caught my attention is that an IIM B grad got a campus offer of Rs.5,200 per month, some 20 years back. Annually it comes to Rs.62,400.
 In my previous article "Retain only the best", I talked about Pratik Kumar, Executive VP-HR, Wipro Ltd, and there Forbes published that he draws Rs.2 cr CTC a year.

If we calculate compound interest to see, what CTC R Satya Narayan would have reached at after 20 years, if his salary grew @10% annually. The CTC would have been in 2013, Rs.419, 796. (Less than what an Admin  Assistant draws after 2 to 3 years, with or without any special degree or qualification)

Assume, the annual raise was 20% (quite high, right!) R Satya would have reached in 2013 an annual CTC of Rs.23,92,226. This is around 10% of what Pratik Kumar, an HR guy draws today.
 I guess market forces defy all sensible calculations.

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