Companies have been expressing their commitment towards ESG metrics over the past several months. Several have successfully demonstrated their commitment to the society at large during the COVID-19 crisis. Even so, the labour exodus, letting go of people, and asking staff to take pay cuts has had the harshest impact on corporate India.
Several corporate leaders like Mukesh Ambani and Uday Kotak stood in solidarity, forgoing their remuneration and ensuring that their employees were put ahead of themselves. But corporate India is a contradiction at several levels, as it is here too: several promoters that put themselves ahead of their employees and increased their compensation despite the stress faced by their employees.
As the country debated between lives and livelihood through COVID-19, some promoters continued to remain self-focused. Being tone deaf has its consequences: much like reputation, employee loyalty can vanish much quicker than it took to build, taking employee morale with it.
To read our blog click here