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The first thing that strikes me about Cognizant's Vice-Chairman, Mr Laskhmi Narayanan, is his relaxed look. After chatting about the Indian IT industry, Europe's woes, India's corporate culture and bureaucratic mindset, I ask him about his future.
“Well, I need to retire. I am already 58-years old,” he says with a smile. But guess what? This Vice-Chairman is already on the wind-down mode. Four years ago, on his suggestion, it was decided that Cognizant employees in India could choose to retire at 55, instead of 58, “to provide opportunities for our younger colleagues.”
Describing this “unique model”, Mr Lakshmi Narayanan says that at 55, employees are encouraged to give up their operational responsibilities. They can continue to work, have their office and other infrastructure but don't get bonus or stock options and take a 5 per cent salary cut every year.
“So, I am working for much less today; the bonus was 70 per cent of my salary, so that is gone at one stroke as also the stock options… Beyond a point, money does not matter,” he says. Others on the wind-down mode at Cognizant include Mr K.Chandrashekaran, Vice-President, Infrastructure, and Mr C. S. Murali, Vice-President, Corporate Affairs.
Mr Lakshmi Narayanan, who had set up Cognizant as a tiny unit in Chennai in 1994 and nurtured it to its present position — with about 100,000 employees in India, says with a lot of pride that “others are now running Cognizant. I am not involved in the day-to-day functioning. Apart from the four-five board meetings I attend, and my travel to meet important customers…much of its operations are on auto mode. I get involved in strategising, and people do pick my brains. But I don't exercise any undue influence in the company,” he adds.
That means more time for mentoring, philanthropy and building train-sets, a childhood passion! He is the President of the Chennai chapter of TiE (The Indus Entrepreneurs), is on the board of the National Skills Development Corporation, and is involved with the ICT Academy (an education initiative) as also United Way that creates livelihoods for under-privileged.
Hear him all excited about the 30 physically challenged people placed at R. R. Donnelley or the “youngster from Tata Motors who wants to build a hybrid engine and I'm giving him opportunities to do so,” and you understand the mantra of energy flowing in from change and new challenges.
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