Nov 20, 2008

Offer letter revoking

Anurag posted a Facebook note with a real story:

So there is this guy who till last week was looking forward to join [well known company] as Sr VP of HR . Wooed to the extent {name of Promoter} sent people to his home to ensure there is an "emotional connect" even before the guy joins. All was fine till he got a letter last week withdrawing the offer. No one spoke to him , no compensation whatsoever and the poor fellow is looking for a job at the age of 48 in this economy. So this is the story of what is happening with one of NSE50 companies. [Well known company] shares are trading at 15% of their January highs !!

Dr. Shukla linked to a story about something similar in Videocon's business.

Today I was talking to a HR head of a BPO firm today about the incident and he shared that while the economy was booming people had no qualms about accepting an offer letter, negotiating equity stakes, meeting their prospective teams, only to text on Saturday and say "I am not able to join because of [substitute with lame excuse]"

According to the HR guy this used to happen not just with the entry level people, but also with CXO levels. These senior guys actually picked up the trick from lower level employees. The thing is called "shopping" - having an accepted offer to negotiate a higher salary and role at a competitor.

Whatever be the case, either in the case of an economic boom or slowdown ... both actions of taking others for granted and breaking commitments cannot be condoned.

Wake up - employees and employers - you're doing your own credibility a disservice by acting so opportunistically.

Have the courage to take a decision and to stick to it.

There's always something a little better, seemingly, around the corner. It's a mirage. Here and now is the only truth. Have the courage to recognise that.