Industrial Relations in Multinational Companies with Special Reference to Bench Management and Performance Improvement Plan – An Empirical Study

The International Labour Organisation (ILO), played a larger role in defining the dignity attached to the work and the worker. This has not created a dispute free industry, rather the labour legislations in India have given the workers the access to justice and the management, with the rules to run a smooth business in consonance with the provisions of the Constitution of India. In the Information Technology Sector, there is a practice in prevalent which is called as the ‘Bench management’. The Banking sector adopts a policy known as the ‘Performance Improvement Plan’. Both the procedures lead to downsizing of its employees at its own will. The question arises as to what are the factors that make the employees feel satisfied with their job leading to testing their level of satisfaction in terms of ‘job security’, ‘salary satisfaction’, ‘job mobility’ and ‘overall satisfaction’ to ascertain the level of harmony in the two different service sectors. For the purpose of this study, the research is restricted to two companies TATA Consultancy services and Hong Kong and Shanghai Banking Corporation Limited (HSBC). The researcher has conducted the survey amongst 500 IT employees and 100 Banking Sector employees.