Startups take measures to ease their employees out
Bengaluru: The worst of the layoffs at Indian startups may be over, but companies are continuing with various belt-tightening measures to cut employee costs, leading to either voluntary attrition or ‘silent layoffs’ amid the continuing funding crisis and a strong focus to achieve profitability, said industry insiders.
Putting more people on performance improvement plans, setting unrealistic targets to be met in a short period, freezing hikes and variable pay as well as creating pressure in the form of extended office hours and compulsory work from office are some of the measures that companies are adopting to ease people out.
Managers are being put on stricter scrutiny with very tight tracking of key performance indicators, said Anshuman Das, CEO of Longhouse Consulting. “In many cases, workload of managers is being doubled which is leading to higher burnout and voluntary exits,” said Das.