Top Executives decline offers from MNCs and move towards the Indian Conglomerates
Bagging a job in MNC was the prime ambition of the youth of India Inc. a few years back. However the top brass is proceeding towards the Indian Players in spite of their lack of professionalism as they are fed up of the MNC practices which are highly bureaucratic in nature. The parent company holds control of the entire decision making process, and for every small thing the Indian counterparts have to seek permission from the Headquarters (most of them situated in the US).
The Indian companies are gearing up to put in place the global practices, even seeking to be guided through processes such as initial public offerings.
Sanjiv Sachar who is a consultant at an executive search firm Egon Zehnder mentioned that those who move from MNCs to Indian companies look forward to the opportunity of working closely with the promoters who are key decision-makers. They also enjoy the respect and hefty pay packets as they used to work with the global companies in the past.
Indian firms are also changing from being strictly promoter-led to bringing in more leaders and decision makers from outside. Now the companies have realised that the way of doing business has changed, and instead of holding the decision making power only with the founder members, or the family members in the family run corporations, it is better to allow new blood to come from outside and influence the decision making process as per their experience in their previous assignments.
This is truly a positive move as the Indian companies will get to hire some of the best brains who were apprehensive to join the Indian companies a few years back due to their lack of professionalism.
Source- The Economic Times
