Financial Daily from THE HINDU group of publications
Saturday, Jul 23, 2005
Financial Daily from THE HINDU group of publications Saturday, Jul 23, 2005 |
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Info-Tech
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Human Resources Role fitment sees 150 out in Polaris Our Bureau
Chennai, July 22 POLARIS Software Labs has carried out a "role fitment" exercise and found around 150 employees unsuitable to work in the company, and they have left the firm in the quarter ended June, according to Mr Arun Jain, CEO and Managing Director. "It is not a regrettable attrition. The slim and trim exercise was a calculated control on cost and would also be carried out in the next couple of quarters," Mr Jain told newspersons after the company's AGM. Later, in a conference call with research analysts, Mr Jain said that during the June quarter, the company undertook three initiatives - a centralised buffer pool, enterprise project management, and role fitment. The buffer was not fully utilised, and these initiatives led to reduction by 150 employees. "These were inefficiencies we were living with," Mr Jain said. For the quarter, the employee strength of Polaris reduced by 153 to 5,850. The attrition rate was 16.80 per cent (for every 100 people, 16.80 people left the organisation) compared to 16.18 per cent in the previous quarter. Polaris plans to start its Hyderabad facility, which will specialise on capital market solutions, by November-end. The Rs 35-crore facility would start with 900 employees and reach around 1,800 in 18-24 months, Mr Jain told newspersons.
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