This explains the new title of the blog
It's that time of the year, appraisals are due and there's a lot of activity going on underneath the calm appearances that everyone is trying so hard to maintain.
Now, for most of the companies this happened in april but for some inexplicable reason, Syntel is always a good 3-4 months late. Last year, the new appraisal method was cited as an excuse and this year something else will be used.
However, I saw something in 'Coinage', the BNFS newsletter, that made me think. These are the word of Rakesh Khanna, president of syntel's BNFS verrtical :
"As we march towards end of 2nd quarter shortly - the heat is on (pun intended). We need to crank up the engine to push more revenues and better margins, especially since this quarter the wage inflation kicks in giving further dip to margins"
In an industry obsessed with growth, where the top companies grew at over 40% in 2005-06 and the industry grew at an average of 30%, what happens if you see the growth slowing down?
Isn't there a possibility that to keep it's record of Q-on-Q growth intact, the management would curb the wage increase? This wouldn't have been the case if the appraisals had been released earlier.
That the appraisals co-incide with the end of the quarter makes me very suspicious. It makes me think if there's more than meets the eye to the delay in declaring appraisals.
I guess I'll have to wait for the appraisals as well as the results of the second quarter to come out before I can draw any conclusions.
3 comments:
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