HI!!! Seniors.
Nowadays mostly engineering firms give Service level agreements for certain periods for 2-3 years.Although It is justified from companies point of view because of training expenses,It loses the best talent. I have seen several students from NITS or some other top colleges do not like to go with the bond kinds of stuff. In the bigger firms where talent of engineering is of utmost importance do not lose the best talent ?
Your reply would be highly appreciated.
Thank you.

From India, Madras
Dear Professional.,
First of all any kind of bond, holding original documents,making bindings on employees causes great loss to the organisation in terms of its reputation.
Secondly these practice are unethical trade practices.
Finally employees are to be given freedom to perform functions willingly,voluntarily so that organisation will proseper
with warm regards.

From India, Bangalore
Many organization in IT area hire on the basis of specific projects.So if they have invested in an employee training at huge cost then they also need to ensure that employee stays for the defined period.Everybody wants a guarantee for their investment,why not companies.Morever many employees jump even at a smaller hike,it is built in their DNA,but why should co lose?One thing they can do is give an employee a loyalty bonus along with defined hike after completion of bond period if they stay on for further say 6 months.This will motivate them for sure.I dont think building a culture where employee will love to work for the co will work.It is bcoz young newly working gen have high ambitions not always matching their talent.So they tend to take decisions on whims which are not always best for their career growth.So it becomes very imp to curb their intentions.Same candidate happily signs the bond for PSU's & top IT firms then why not for other firms.Do note that IT firms even charge you for training & even place you sit which they reflects in your gross CTC even after completion of bond period so where is the objection to usual practice?
From India, Bangalore
Thanks for your prompt reply of my post. As you rightly said candidates choose the good company even if there is a service bond.I appreciate your idea of loyality bonus. Don't you think time has come,companies should think beyond bond kind of stuff? When there is a war of talent aquisition among competing companies,company should come out with innovative ideas like motivational tools to retain people rather than putting bond.
Warm Reagrds
Shashi S. Jha

From India, Madras
as i have said earlier motivational tools do work but to a lesser degree for a trainee profile as for them M is not for Motivation but money.You will see them comparing their joining salary with their batchmates not trophies or certificates won for performance.Morever they have high ambitions & value themselves much more than they deserve.So you cant sell a fridge to an eskimo.Bond should not be thought as an constraint but as a preventive measure.Morever if another org is really interested they can buy out his notice period/bond amount.So that co gets compensated because as we all know cutting edge tech do cost & hiring trainers do cost a lot more.So if im imparting best training then shouldn't a HR guy ensure that the money is best utilized.Today's young talent are waking up to jobs which provide much more than lucrative salary which was not there during my time.Sure they will mature in few years & then these motivational tools will work.It cant be a give give give relationship but a give take relationship leading to a win-win situation.
From India, Bangalore
If bond system is not giving you best talents do away with it.Instead adopt best HR practices so that employees do not feel to go.Attracting and retaining talent is an HR challenge.

From India, Thiruvananthapuram

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