A lot has been said about Bonds and bonding attached with it! Article has mentioned about different kinds of bonds mainly in IT industry and industry which requires different kinds of training. As posted by Tuktuk bonds are mainly for knowledge worker and used to create a mental barrier if not financial barrier (as pointed out by Shailendra) to get return on the investment made on employees.
But Bonds cannot be a tool for inducing loyalty and logic of lowering attrition rate can’t be compare with inducing loyalty. If that is so then I guess most of top management guys must be covered under employment bond! You required bond when you feel that there are high chances that person might leave after adding value to himself using company’s resources and thus bond will serve as a rope to tie those people who are less loyal(as from company’s perspective) or in other word more opportunistic/forward-looking(from employee’s perspective) about their career.
As very rightly pointed out by Akash that why bond works not because of legality of it but because of the consequences employees might have to face. Nobody wants to entangle in legal issues and thus they have to pay a price for their forward-looking approach in the career.
A very good analogy of importance of bonds for a company can be related with the following story (story is hypothetical and has few assumptions): -
A farmer (company) purchases seeds (seeds refers to fresher and employees at lower management level) from a right shop/place (recruitment after screening many employees), put his capital (money used for recruitment and training), fertilizers and minerals (tools used to impart knowledge & skills up gradation) and hard work to sow a seed and then nurture it regularly (continuous assistance of seniors and mentors assigned to employee) and providing it optimum sunlight and air(exposure to outside world in case of on-sight job training) so that it can grow and develop into a fruit bearing plant(trained professional).
Then suddenly plant complained that outsiders(competitors’ of the company) are ready to pay more for my fruits so I won’t feed you despite the efforts and hard work you put into me to nurture me from seed to plant and I will serve them.
So Then farmer (current employer) brings in the concept of employment bond by saying that hey Plant! Your are rooted in my land and thus you are strongly bonded (presence of Employment Bond) with me ,so now either complete your full cycle(duration of employment bond) and then become seed again and go to other farmer(Competitor) or pay me a price by providing your fruits(Financial compensation) and then leave.
The story highlights the effort put by an organization to recruit and train employees and make them worthy to professional world and thus if companies are using bonds then they are not doing anything wrong.
This also reminds me that bonds are not necessarily to be attached with financial clauses, there can be other kinds of bonds like, bond present with medical students in a medical college who has to complete a minimum stint in rural and underdeveloped areas before entering into medical business line or in well developed urban areas where sources of revenue are high.
So this is also an example of bond where government introduced a bond so that society can get benefit out of money invested by government on these medical professional (subsidized fees).
No comments:
Post a Comment