CEO's job security staggers amidst financial crunch
By Eureka Bharali   |   Tuesday, 18 November 2008, 18:41 IST   |    1 Comments
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CEO's job security staggers amidst financial crunch
Bangalore: Along with the baffling economy even the top executives are stranded, as they begin to feel the pinch of the credit crunch. As per a survey by the leaders in London International Leadership Summit 2008, almost 1000 business leaders believed that jobs will be lost. However, in terms of dealing with the trembling economy, the Indian executives score higher than their U.S. counterparts. "There is a considerable difference as the Indian executives are high paced, while those in U.S. have a laid back attitude. For instance in times of emergency an Indian CEO will go ahead to complete the job of a project manager in the latter's absence, but someone in U.S. won't," said Vijay Parthasarthy, President, Mast Mobile Media, an India-based mobile ad media and technology company. "It depends on the kind of industry you deal with. Infact, the economic slowdown is also bringing in opportunities in some areas to prove themselves. But mistakes can become a threat at times, with slashes in their remuneration and so on," says R Subramaniam, Vice President and Managing Director, Yodlee. Infact, the retrenchment measures has already begun to affect the CEOs, with Videocon offering pink slip to its CEO, just two days before his joining date. "If an organization is new then it may adopt measures like holding on recruiting people for the top level," Parthasarthy said. Moreover, Ashwini Goel, CEO of Intecons says, "CEOs with high pay tend to be less active as most of their expectations are fulfilled." A study co-authored by a University of California, Berkeley economist, also pinpoints the same that executives with high pay becomes more conscious of his image and publicity rather than on the shares and stores which readily slows down. So, the tendency to remain inactive makes it a real tough job for them to survive, since the basic component required during slowdown is competitiveness.

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