Introduction – There are many Information Technology Companies in India are running in the phase of bankruptcy. This year, the industry has made the unemployment of average 56,000 engineers. This number is twice the number of unemployment rate went last year. New technologies are less adapted due to the introduction of various policies every year. The companies of these industries include both Indian and Multinational firms with very large footprint of India.
Companies – The top seven companies include Wipro Ltd., Tech Mahindra Ltd., Infosys Ltd, HCL Technologies, DXC Technology Co, US-based Cognizant Technology Solutions, France-based Cap Gemini SA, that made the employment of 1.24 million people and around 4.5% Workforce have become unemployed in the year 2017. Most of the companies at the end will reach to the point where there will be only few employees in the company, despite continuing the hiring of young aspirants when they will start their company or projects with new thinking. Across these companies, immediately after the extensive interviews with 22 former or current employees, the number has collectively risen.
Statistic – Most of the employees in these companies are placed on higher ranks by these seven companies, by awarding them with the lower ranks as compared to other top companies. Also, there are many places which have more than 15,000 employees in the lowest category. Similarly, Infosys has placed more than 3,000 senior managers in that particular category where employees need different kinds of improvement. Also, the most popular company that is known by the name of DXC Technology just in the middle of three-year plan of the company which make the reduction of different number of offices all over the country that further ranges from 50 to 26. Also, this company made the planning to terminate more than 1, 70,000 employees in this particular year.
Management process – This performance management process helps in providing special bi-annual assessment of the performance they made throughout the year. The number of termination in these companies varies according to their performance cycle. This appraisal of the performance for the employees leads to the separation of some of the employees from the concerned company and these numbers vary each other.
Strategies – As the implementation of these strategies are continuously meeting the regular change in the demands of business that is existing in the current global economic environment. These performances driven organization helps to access the performance of the employees on regular basis which also takes important essential actions whenever it is required.