HR Problem - Carrot policy works Stick has to be sparedl

[Janaki Jambunathan]

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In Gujarat, billionaires take up factory jobs


Factories in motown Sanand are faced with an unusual HR problem - handling crorepati labourers. There has been a windfall of Rs 2,000 crore for land owners in and around Sanand, where Gujarat government acquired over 4,000 hectares of land over the last seven years.

"Retaining labour is a major challenge for us. We have to be very cautious in dealing with workers as these jobs are no longer their primary source of income. Only carrot policy works, stick has to be spared," says Jaydeepsinh Vaghela, chairman and managing director, Raviraj Foils.



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[krish44]

Even in delhi those who got Delhi development authority flats of MIG ,HIG category anywhere in delhi in seventies and eighties for 50 thousand to 2 lakhs are crorepatis today

as the market price of these flats is more than a crore and still raising.

They became rich because of the open economy after 1991 and rapid expansion of delhi NCR

 

[vgane]

Real estate is in doldrums now...Hardly any appreciation for past 3 years! Rental is a better option

 

[krish44]

Most people buy house /flats to live in them.

If its value escalates to crore plus, they need to live there anyway . So it is locked up money for a lifetime with notional value of crore plus.

Most have little money for monthly expenditure.

These are the delhi crorepathis.

By the way , this was the explanation given by Arvind kejriwal for 31 MLAs of AAP in delhi being crorepathis when asked why these crorepathi MLAs should be funded

huge amounts as salary and allowances

 

[mkrishna100]

If its value escalates to crore plus, they need to live there anyway . So it is locked up money for a lifetime with notional value of crore plus.

That is true in many cases i.e if u have a single property and live in that and its property prices zoom it is purely notional and come to value only when you sell it and relocate to a more cheaper area or to a more cheaper city . I had one relative who was happy that his property price zoomed only to find that if he sells it he will be able to move to a very small property ( nearlyhalf that size ) in another area as every property prices zoomed at the same time .

 

[sundar1963]

Real estate industry should be banned by the government. Compound interest should be limited to 5 to 10 years only.
These two are the cancers of capitalism.