Group CFO A-Star Testing &Insp Singapore, Fin Dir Ardes Lab Hyd, Columbia Business School, CFO Prog | Nanyang Business School, MBA | B Tech, CAIIB, Ex HDFC Bank /SBI/Central Excise
#Infosys co-founder Narayana Murthy has sparked quite the stir on social media with his "70 hours a week". He immediately got support from Ola's Bhavish Aggarwal and BharatPe co-founder Ashneer Grover. Narayana Murthy is icon of India. I had been tracking Infosys since its IPO in 1993. 100 shares at Rs 105 in 1993, is worth today at Rs 14 Crores (100 shares became 102400) plus dividends. Last 5 years dividend amount would have been at Rs 1.18 Crs. Today his family has Infosys shares worth Rs 20833 Cr plus other investments At peak share price of Rs 1950, they have Rs 30000 Crs Infosys shares With all due respects to this great man, i was surprised at his advise to young people that "They should work for 70 Hours) I read all the comments of this Youtube video and with my understanding of #software sector, i can confidently say that present young generation is working not just 70 hours, in fact they may be working more hours. It is not today that they are doing, they have been doing this more than 2 decades. This is not at junior level but even at mid level. My co-brother who used to work for #HCLtech used to leave house at 9 am and used to return at 2 am in the morning and immediately rush to office again at 9 am. I used to tell him to search for some other job. Same is the case with Banks and in fact one can visit any private sector bank and can see some staff working till 9/10 pm. This is the reason #Attrition is so high in Private Banks at 35%-45% while #SBI attrition is mere 2% I am surprised with great Murthy's comments. Some one made a comment that in 2005 starting salary is Rs 3.2 lakhs and today starting salary is same. Annual report of Infosys says around 20 people got more than Rs 20 Crores salary while median salary of junior employee remains same at Rs 3.6 lakhs for 40% of employees which is near USD 1.75 per hour at the rate of 48 hours per week and if i calculate real hours spent by them it can go down to $1.2 per hour while they bill to their customers $30 to 200 per hour depending upon the task. As per Indian labour laws, staff need to mention in and out time in the office and i am 100% confident that none paying "OVER TIME" charges to any of the employees (as per law they need to pay twice the amount for >48 hours week work). Then what they are talking about best CORPORATE GOVERNANCE AND Following "LAW" Are they taking care of health aspects of employees, how much time they are spending on travel (when they get paid Rs 25K they have no choice for to take house at the outskirts of the city) I feel while #Humancapital is being exploited by employers, employees are not rewarded properly as it has become employer market Tata Consultancy Services Wipro Infosys HCLTech Tech Mahindra Mindtree #Software #Banks #HDFCBank #ICICIBank #Axisbank #SBI #Staff #hrcompliance #Government #labourlaw #Finance #money
I agree with you sir. Afterall it is the family which come to the grave and not the company
Agree with you Venkateswara Rao Patakota . Companies and countries as well should focus on more value creation rather than focusing on just clocking more number of hours at work Which donot take ppl anywhere.
Excellent article. Well explained with good real life examples.
Great Article sir. Optimum balance between personal and work life balance must be maintained irrespective of industry and work culture. Understaffed organisations tend to pressurize the employees and deteriorate mental health and life.
Group CFO A-Star Testing &Insp Singapore, Fin Dir Ardes Lab Hyd, Columbia Business School, CFO Prog | Nanyang Business School, MBA | B Tech, CAIIB, Ex HDFC Bank /SBI/Central Excise
10moToday youngsters are intelligent. They have better exposure to the world and understand importance of work life balance What is important is quality of work but not quantity https://youtu.be/YGStV0mcDaU?si=mvjq9EPUQmHbNVae