Lack of good workforce management hurt Indian firms: Kronos
Inability to manage workforce may be hurting Indian companies as they prepare to head out of recession, says workforce management solutions provider Kronos.
Briefing reporters here, on Wednesday, Kronos India Country Manager James Thomas said leading organisations in India suffering Rs 20 crore to Rs 30 crore loss, as a result. Despite lay-offs and retrenchments, companies who retain workforce that absents itself would lose several crore in loss of productivity, he added.
According to Kronos, implementation of workforce management solutions saves about one to four per cent of payroll cost for them globally. This could be ‘several times’ greater in India, given the investments companies here make on workforce. The $3 billion Kronos, which began Indian operations in 2007 has grown to about 130 employees. It has opened a new global support facility in Bangalore and has a development centre with nearly 100 engineers in Noida.
