HT Memo Confuses More Than It Clarifies; ‘No Salary Changes Will Be Made At This Point In Time’
With news organizations such as TOI, DNA, NDTV and NewsX taking tough measures to counter the slowdown, including cutting salaries and staff, all eyes are on HT Media Ltd, India’s second largest english language publisher after Bennett, Coleman & Co Ltd. HT Media publishes Hindustan Times, Mint and Hndustan.
In a memo to staffers on Monday, executive director (HR and operations) Sharad Saxena wrote “No salary changes will be made at this point in time”. Unfortunately, the memo is replete with corporatespeak and reads more like an internal communication for HR professionals. At least three employees of HT Media we spoke with, said they didn’t know what to make of the memo, the full text of which, is below the fold. (Disclosure: I was employed by HT Media’s Mint newspaper till January.)
There are hints, however, that there won’t be salary cuts. “We at HTML should take pride in the fact that we continue to do well in these tough time, in fact if all goes well the next few years could see us actually delivering our best ever performance. Our outlook on employees is therefore very different from other organisations who see no option but to cut remuneration to survive these trying times.”
Saxena and CEO Rajiv Verma could not be reached for comment.
Subject: Performance Appraisals & Objective Setting
From: “People Communication”
Date: Mon, April 6, 2009 5:42 pm
Dear Colleagues,
March/April is time for reviewing employees
Wanted to look at HT's response for a long time… Thanks for this…
its good that second largest paper is not cutting salaries when the largest BCCL may undertake second round of salary cut , this time only for top management.
I proud be a HTML employee such a wonderful decision. :)
I proud to be a HTML employee such a wonderful decision. :)
As information given by Mr. Sharad we did extremily good in economic downturn and there would be no sallary cut .
I appereciate the decision ,but just want to ask one thing that:
Cutting sallary is good or cutting jobs ?
Or should try to find out solutions at bigger level ?
Siddharth: A person according to me should proud about his skills ,work , efficiency and position acquired but not to be just an employee of a good organization.
Ravi: Since we are discussing Cost cutting in this economic scenario, and you said that we should be proud of our talents and skills and not just being an employee of an organisation..
Now lets just assume that the employees are just being paid for whatever skills they have… So the prevalent Pay cuts in various organisations is a cost cutting excersise or a salary correction…?
Hi Ramesh, You know onething that HTML has stated that there would be no sallary cut ,but they cut their man power, a good amount of employees has been terminated with the name of recession.
My point is that insteed of cutting jobs it is good option to cut sallaries.
You can not predict about the victims.
If company do not have much wealth and enable to earn profit than ,it is not required that company should bear extra load ,company is in the market to earn profit.But my point is that at the tough time if it is possible firstly try to conserve the job of the employees rather than give increment to few and fires to many.
hi ramesh
hi most of the organisation going for the cost cutting on the basis of the decreasing profitability of the firm but fortunately here in html the case is quite diffrent morethan multiple platform within the organisation success of the brand & substantial revenue increase has been celebrated untill recently.
morover most of the medial giants as TOI or DNA are doing salary reduction exercises despite employees working there are happy as they then also recieving much more cash in hand than any ordinary HTML employee.
Hi Raj
I agree with u, salary should be on monthly basis not on quaterly basis.
Nobody can pay his/her bills quaterly.
In HTML,50% salary structure depends on compnay growth, revenue increase why should a person suffer who is not involved to make new business inspite of he/she is doing job perfectly.