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US-based Dells memo to the effect that those working remotely wont get promotions shows how the pendulum has swung from one end to the other across companies — from ardent support for work from home (WFH) to championing work from office (WFO).
A recent survey by Deloitte showed that attrition for India Inc. dropped to 17% in 2023 compared with 19.7% in 2022. However, key talent attrition continues to be between 1.5-1.7 times of overall attrition, indicating that there are enough opportunities even in a tighter job market.
Last year saw a record departure of 179 managing directors and CEOs from NSE-listed companies against 167 in 2022, as per Primeinfobase data. The search for replacements is also overshadowed by concerns about selected candidates rejecting appointments after the process is complete, something experts characterised as unexpected behaviour at the senior management level.
A toolkit to bind the CXOs may include measures like longer tenure employment contracts (five years versus three years) and longer notice periods (six to nine months) as compared with three months earlier, according to the CXO search consultants.
What is the ideal way of looking at performance appraisal, and the increment and promotion cycles? ET Wealth spoke to experts across the spectrum to put together guidelines to navigate the performance appraisal season and stay ahead of the game.