Bond for the Bonded

Companies today are empowered by the body of law to carry out their businesses profitably by adopting any methods that are recognized as legal by the constitution of the country they operate in; to protect their business interests. So if a company has invested money in developing a specific technology, skill set or a unique training program then it has the right to demand financial/operational return from the same in terms of monetary reimbursements or as a legal obligation of the employee. But in fact, companies tend to take this as an opportunity to squeeze out the best out of an employee.

The rise of the BOND in India:

The rise of the bond can be attributed to the highly vibrant IT sector which was booming with opportunities with the start of the new century. With the unique skill set required for this industry and low availability then, there was an urgent need for sustained development of quality workforce. With huge amount of investments going into the workforce development, it was absolutely necessary for these IT firms to retain the trained workforce who are in high demand outside. With a fair argument in asking for the return on their investment, they came up with the “BOND”, the “Employment Bond”.

The “James” in Employment Bond:

I wonder why James Bond and Employment Bond share the same surname. Employment bond, like the British navy commander is a civil servant of the company who works for the Ministry of Defense, defending its land (business) against attrition of skilled employees.

The employment bond (like JB) is an agent for the company (nation) who works in situations caused by buoyant industry (inter-national) situation/circumstances. It requires soul searching from both employees and the companies and helps in maintaining a mutually beneficial association (international peace and security) between both the parties. The employees (other nations) should understand the compulsions and challenges of running a business (nation with peace) and strive to maintain a long and productive association with the company (internationally).

On the other hand the employment bond (like JB) has a slightly positive side also. The employment bond is also legally committed (to the famous "bond gals") to retain the employees until the completion of the contract period (until they are ready to date). It cannot terminate the contract (relationship) for reasons other than gross act of indiscipline (cheating on him), causing loss to the company (his mission) or the inability to continue business (satisfy him) for economic (emotional/sexual) reasons.

Why “NO” to this BOND?

It is quite evident nowadays that no job aspirant is ready to accept/sign the Employment Bond. But they have to take up jobs in order to earn their livelihood and thus have no other option but sign the BOND. Seeing the flipside, most young professionals should feel responsible and understand the advantages of long term association with one company. They should realize that they would grow along with the employer/company and not hop jobs frequently. Summing it up, say “YES” to the employment bond as long as the company/employer is providing a vibrant workplace, professional work environment and a challenging job.