If senior executives implement a wise step by taking pay cuts, all IT companies can retain or save the jobs of the youngsters, said Infosys co founder, N.R. Narayana Murthy.
Murthy said the industry has dealt with the same issue many times in the past.
“There are a lot of smart leaders in the industry but I have no doubt at all that they are all well intentioned people and they can find solutions,” he explained to a news channel.
“We shall remember that we have gone through this many times in the past. We went through that in 2008 and in 2001. So, this is nothing new. And hence, there is no need for us to become extremely anxious. We have had solutions to such problems in the past,” he said.
“I feel that it is possible for us to save or retain the jobs of the youngsters if the senior management people were to make some minor adjustments; adjustment of taking salary cuts,” Murthy said.
“Let me give you an example of Infosys itself. When the market was very difficult and it shrank actually in 2001, we all sat together with the senior management and then we said, look let us make a sacrifice and let us ensure that we protect the jobs of youngsters,” he said.
“That time we had offered jobs to 1,500 engineers. Many companies were postponing the joining day. But we said let us not do that and let us demonstrate the commitment to the youngsters by senior people taking some salary cuts based on the disposable income as we go down the hierarchy and welcome all those 1,500 engineers,” he added.
Mr. Murthy also said that the industry leaders will identify new areas of opportunity and organize training programs to train the youngsters. They should be given enough opportunities to pick up the latest technologies and ask them to work hard and ensure that they are in a position to add value to the company in the next one year. If in case they fail they can look for another job.
“It is not fair to simply send somebody home and then let them become very anxious because they may have families depending on them. They may have children, parents, spouses, and all that, so it is the responsibilities of the leaders of the industry to find reasonable solutions,” Narayana Murthy said.
