There are far too many:
ITS HELL FOR SALES/BD PEOPLE:
In 2009, the present No. 2 person of this Company told a group of BD people (during a business review session in Mumbai) that it took 11 years for CRISIL to realise that they need a BD team, then it took them another 11 years (that is, by 2009) to realise that BD People need to have a Career Path. Well now, I must add, by the time its 2020 (that is, another 11 years after 2009) they would realise on how to manage a capable set of Sales/BD People!
HOW IT BECAME A HELL:
Here's a story to be shared! The most Sales Driven Vertical of CRISIL is (or rather was) the SME-Retail business. One fine day, that is, around the end of 2013 the present Top Management woke up from its slumber to realise that they need to grow the SME business by 100% during the calender year 2014 (given the Market Scenario where even a 20% growth was looking tough)! The present Top Management always had a grudge against the Senior Most Person of the SME-Retail business (under his leadership this business was thriving though his personal contribution was absolutely minimal but this person had a set of Self-motivated, hard core Sales driven people managing the daily show thereby resulting into a robust growth y-o-y with a healthy EBITDA) and therefore the Top Management just wanted to oust him anyhow and for that they successfully used the mantra of 100% growth target. Till then it was fine! But thereafter, the so-called BIG BRAINS at the Top then played with the monthly incentives of the BD People. Now, in CRISIL's SME business, the monthly incentives were the only charm because the fixed pay of the Sales people were appallingly low and over and above that, the MD-CEO and her closed group always believed (which they still believe) that the Analysts were running the company and therefore they need to be paid the most and not the Sales People! With such a suicidal step from Top Management of playing hanky-panky with the monthly incentives and with an annual hike ranging in the single digit mark the entire Sales Team had already lost complete faith. Over and above that, the Senior Most Person of this business joined a competing rating agency and he started breaking the back of CRISIL's SME business by poaching away the entire Sales team into his new company (even some of the non-performers are being hired at healthy compensation packages and attractive designations). Today one can find the entire Sales Team of CRISIL's SME business washed out and already joined either competing rating agencies or elsewhere.
FURTHER, HOW THINGS ARE BECOMING WORSE:
On seeing people putting in resignations on a daily basis the present Top Management (who's sitting on a huge Cash Pile) felt that they shall start throwing money and people would get retained automatically. And for that to happen, the Top Management started calling each Sales person (including off-roll employees) and offered them 30% - 70% pay hike, plus retention bonus, ESOPs and above all, normalization of the old Incentive Structure! Shockingly, these benefits have been offered even to the losers in the team. But the damage was already done and as usual CRISIL was late even here. By doing this the Top Management has made a mockery of itself. Now, those who are left are more determined to leave the organization simply because prior to this mass exodus, the same Top Management found it extremely difficult to even give 10-15% to deserving candidates and now suddenly even Morons are getting 40% pay hikes! So the remaining staff are feeling cheated! In fact, some of the existing staff have played smart, they've got their pay revised during this panic phase and have negotiated a better deal with another company outside (based on their revised compensation package)!
