By Accommodation Times News Services
Over one lakh job are at stake in real estate sector. Whoopingly high profiled employees, especially in marketing, are not delivering. Last three months were worst. Majority of listed companies of real estate have reduced their work force. Not only builders but intermediaries and international property consultants were absent from campus placement. Highest paid CEO, CFO and Presidents of Marketing were sacked or have put in papers forcefully. As if musical chair in offing. Huge manpower turn over is observed since Dewali.
Jobs in real estate sector and housing finance are deteriorating. HR department is busy in reducing cost of HR by sacking highly paid employees or making things difficult for them to cope up.
Salaries for marketing head had reached Rs.1 crore per annum plus incentives in variables. HR have already planed to get rid of such dead stock who are not performing. Employees coming from high profiled companies are demanding but when time to deliver, they make a fiasco, said one of the HR head from a reputed builder. We are hiring fresh MBAs and Engineers who put in more affords and work like machines. We have to get rid of these high profiled salaried staff who wants to just have fun on companies expense. They go international with specific agenda, make fool of us saying market is bad or organiser of the event did not get crowd or such excuses, while we observed that they go to Dubai or international destination participated by our company and enjoy “aiyassi”. No follow up no calling and no meetings. Then they blame on organiser of the event, said one of the builder who participated every international event represented by his employee. He said that he had sacked such staff and now going in for fresh blood in the company who have ideas and enthusiastic about work. Pay scale for a marketing staff starts from Rs.2.5 lakh to Rs.5 Lakh per annuam while admin staff comes much cheaper with qualifications like CA, Advocate, Engineers, MBAs.
A new regime started by HR in real estate by cost cutting and at the same time having efficient and honest staff.