Kotak Mahindra’s “Fantastic” Management Technique

I’m being very sarcastic with that headline.

So, here’s how Kotak “inspires” staff to achieve targets: they give out medals in a public ceremony to various people for having achieved their sales targets the moment the targets are defined. Two months later, they hold another public ceremony, where they take back the medals from people who haven’t achieved those targets.

The last time they did this (that I know of) was during the November and December period. Oh, and they hire an auditorium to humiliate employees.

I don’t know if this is standard practice amongst financial institutions, but I do know that Kotak seems to follow this practice with a great deal of enthusiasm.

I don’t know about you, but I find this sort of behaviour appalling. And I’m talking through my wallet here: Kotak is never going to get any business from me.

Recovered from the site’s WordPress archive, where it was published on 2009-03-17.