@ Bharghavi,
You have made a very good observation, indeed Company's focus on the "employee friendly" measure has reduced to an extent.
I have first hand witnessed this change in focus. I may be wrong, but from my experience I can tell you the following:
Every Company has the following priorities:
Priority 1 - Stability
Priority 2 - Profit
Priority 3 - Brand value
Today's markets are having cut-throat competition, Retail and Telecom sectors are operating on wafer thin margins, IT companies have been hit hard due to stringent VISA rules, hike in VISA costs, Demand (not request) from Customers for 10% cost reduction every year, Fast food chains are getting so competitive that they are offering products in Rs 25 range.
Though we get to see only one side on the coin viz, cost cutting, reduction in variable components, delayed appraisals, etc., it is important for us to try and understand the business side challenges as well. This situation is so serious that in some cases the CEO level people are personally meeting clients to offer value addition, co-development & co-innovation solutions in order to protect the business and keep competition away. Normally such meetings would be handled by an appropriate person from Sales/Marketing.
The overall effect of recession, increasing competition, increasing costs Vs. cost reduction demands fro customers, etc. is forcing companies to roll back/ delay/ hold some of the benefits/incentives and implement cost cutting measures for non-revenue generating
activities.
This may not be a very holistic or exhaustive view of the situation, but this what I experienced.
Best Regards,
Ritesh Shah