Well friends plz advise...is getting into the system of making new joinees sign a bond is a right approach or not. The purpose why mangt wants to do this is to retain people whom we groom but is it the right practice as there have been lot of cases regarding this in the past. Please share yr views.
Rolly
From India, New Delhi
8Rolly
From India, New Delhi
Hi
I dnt think the practice is any bit bad, as when the company is putting so much investment into training and developing an individual, and if the individual instead of being fruitful to the company uses the trg imparted to him for his own professional growth; then it's but natural and within the perview of professionallism to have him stay put to the company's cause for a certain period of time.
It's that much more important to bind an employee when commitment, integrity and honesty are on the doldrums and people only want to take advantage of their increasing demand in the market place.....
waiting to hear from others
REgards
From India, Mumbai
I dnt think the practice is any bit bad, as when the company is putting so much investment into training and developing an individual, and if the individual instead of being fruitful to the company uses the trg imparted to him for his own professional growth; then it's but natural and within the perview of professionallism to have him stay put to the company's cause for a certain period of time.
It's that much more important to bind an employee when commitment, integrity and honesty are on the doldrums and people only want to take advantage of their increasing demand in the market place.....
waiting to hear from others
REgards
From India, Mumbai
hi n thanx for the reply...
the point is well answered as far as T & D aspect goes but the issue also involves making new joinees sign bond say fr one yr...practice usually done in IT sector...so are such practices healthy enough considering our constitutional stand on right to livelihood and on bonded labour!!!!!!!!!
rolly
From India, New Delhi
the point is well answered as far as T & D aspect goes but the issue also involves making new joinees sign bond say fr one yr...practice usually done in IT sector...so are such practices healthy enough considering our constitutional stand on right to livelihood and on bonded labour!!!!!!!!!
rolly
From India, New Delhi
Dear Srivatsav,
Taking a bond from the candidates is not ethical as I feel. But I am working as HR in my company holding 2years bond.
When I was looking for a HR job, I was fed up as there were very limited jobs available for HR and most of the comapanies prefer females for this position, I dont why?
When I was desperate for a good HR post, I got a new company where the employer asked me to give a bond for 2years. I can quote the reasons for this from both perspectives.
Employer perspective : As he provides training for some period, he expects his employee to be with him for some period.
For some jobs continuity of operations is required, one cant leave the company in the middle as it effects the efficiency of operations.
Employee Perspective :As there are no other best options available, go with the company's bond.
But there are some employers who just want to hold employees as if the employee has been bought for some worth and make them work like a donkey(as he cannot leave the company in bond period). They want to save some money on employees by paying less salary in this bond period.
Such employers should not be left without screwing.
I conclude that if the growth prospects, remuneration and work environment are good, its okay to give a bond. When they are absent, please dont give a bond, there are N number of options available.
From India, Hyderabad
Taking a bond from the candidates is not ethical as I feel. But I am working as HR in my company holding 2years bond.
When I was looking for a HR job, I was fed up as there were very limited jobs available for HR and most of the comapanies prefer females for this position, I dont why?
When I was desperate for a good HR post, I got a new company where the employer asked me to give a bond for 2years. I can quote the reasons for this from both perspectives.
Employer perspective : As he provides training for some period, he expects his employee to be with him for some period.
For some jobs continuity of operations is required, one cant leave the company in the middle as it effects the efficiency of operations.
Employee Perspective :As there are no other best options available, go with the company's bond.
But there are some employers who just want to hold employees as if the employee has been bought for some worth and make them work like a donkey(as he cannot leave the company in bond period). They want to save some money on employees by paying less salary in this bond period.
Such employers should not be left without screwing.
I conclude that if the growth prospects, remuneration and work environment are good, its okay to give a bond. When they are absent, please dont give a bond, there are N number of options available.
From India, Hyderabad
Dear Vishwanath
I feel if company environment, remuneration and growth is good then there is no need for any bond as no employee would prefer leaving such company as long as some other reasons dont operate...right...so i agree with you...
From India, New Delhi
I feel if company environment, remuneration and growth is good then there is no need for any bond as no employee would prefer leaving such company as long as some other reasons dont operate...right...so i agree with you...
From India, New Delhi
Hi Friends,
Are we not forgetting about "The Bonded Labour System (Abolition) Act, 1976". Answer yourself, how it is not a violation of the above act. :o
Let us understand that people work by choice; if you love some one don't sign a bond with him and there would be reasonable probability that he stays with you.
And the moment you sign a bond with him, the love is lost from the relationship, and even the probability of him staying with you would tend to ZERO. :lol:
In nutshell, don't be over possessive. The concept applies to both love and employees. Freedom is the best bond.
Also think about the legal validity of such bonds and what can you do if someone leaves you within the bond period.
Never the less, in case company is investing EXTRA ORDINARY amount/effort/time then it has the right to get the returns from the investments. But please, do not take routine training and on job development as 'extra ordinary'.
Sincerely,
Vikas Pareek
Are we not forgetting about "The Bonded Labour System (Abolition) Act, 1976". Answer yourself, how it is not a violation of the above act. :o
Let us understand that people work by choice; if you love some one don't sign a bond with him and there would be reasonable probability that he stays with you.
And the moment you sign a bond with him, the love is lost from the relationship, and even the probability of him staying with you would tend to ZERO. :lol:
In nutshell, don't be over possessive. The concept applies to both love and employees. Freedom is the best bond.
Also think about the legal validity of such bonds and what can you do if someone leaves you within the bond period.
Never the less, in case company is investing EXTRA ORDINARY amount/effort/time then it has the right to get the returns from the investments. But please, do not take routine training and on job development as 'extra ordinary'.
Sincerely,
Vikas Pareek
Hi All
Getting employees to sign a bond is illegal. No company can legally bind an employee to stay with them for a particular duration.
Bonds do not have any legal standing if the employee sues the company.
Hence getting an employee to sign a bond (especially freshers) is more to act as a deterrant and discourage the employees to quit within a short duration.
Instead, you may want to choose to add a clause in his/her offer and/or appointment letter which says that should the employee choose to leave the company within an x period then he/she will be required to reimburse the company the cost of training which will be equivalent to x amount of the employee's ctc.
I am not sure whether the above has legal standing, will need to check out, but it definately will protect the employers interest.
Hope the above helps.
Richa
From India, Pune
Getting employees to sign a bond is illegal. No company can legally bind an employee to stay with them for a particular duration.
Bonds do not have any legal standing if the employee sues the company.
Hence getting an employee to sign a bond (especially freshers) is more to act as a deterrant and discourage the employees to quit within a short duration.
Instead, you may want to choose to add a clause in his/her offer and/or appointment letter which says that should the employee choose to leave the company within an x period then he/she will be required to reimburse the company the cost of training which will be equivalent to x amount of the employee's ctc.
I am not sure whether the above has legal standing, will need to check out, but it definately will protect the employers interest.
Hope the above helps.
Richa
From India, Pune
Hi Richa Thanks for your views but if getting a bond signed is illegal then how come all these IT companies are able to do it while recruiting freshers especially?
From India, New Delhi
From India, New Delhi
It is more as a deterrant than having legal validity. Obviously freshers arent aware of the legal status of the bond and hence agree to sign it.
From India, Pune
From India, Pune
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.