Infosys’ NR Narayana Murthy on previous Sunday shed some lights over the ongoing issue of providing compensation hike to Chief Operating Officer (COO) and showed his dissatisfaction over the same as he proclaimed that the offer is not proper and may turn its employees against the Management which would eventually make the situations bad. Murthy further added that providing an approx 60-70% hike to the top level person and 7-8% to other employees, mainly programmers, sales people in the field, entry level engineers, clerks and office boys who have pulled up their socks for company would neither be ethically right nor fair provided governance standard is poor and it would not prove out be beneficial for company’s pre-set goals.
Murthy has cleared that, he has not got any bad blood against Pravin, but received lots of emails when employees questioned about the decision, which doesn’t look good. He also says that Pravin would not be able set a good example for his junior if they give him a raise.
Going back to the voyage, he stated they hired Pravin back in 1985. Murthy along with Kris and Sibu, did every possible thing they could do to guide, inspire and encourage Pravin which ultimately paid off when Pravin was made the COO of the same company. From day one, those few names have always been stiff when it comes to playing fair and Murthy says doesn’t matter how hard it goes they would not compromise on that. His foremost aim is maintaining equity which would simultaneously help in maintaining healthy environment in company.
He tells about his journey and opens up that while joining the company his salary was only 10% of his previous job, and he insisted his juniors get a 20% hike even when they were way less experienced and skilled than him. It just means he has always put company’s future first and personal benefits later and would continue doing the same in near future too. According to him, it’s the duty of a Senior Manager to look out for the benefits of other lower level groups and not only think about filling one’s own pockets. As a Manager, they are the one who can maintain a genuine ratio between highest and lowest salary. He further adds that, it is necessary to make compassionate capitalism acceptable to a majority of Indians who are poor as without this concept, this country would not be able to cope up with poverty. Experts says that capitalism may come to an end in the not-so-distant future if the current corporate leaders do not heed this advice in India,”