Manager Finance &; Accounts - Bangalore corporate(India) - Manager Finance & Accounts Daramic Employee Review

3.0
17 Aug 2024
Recommend
CEO approval
Business outlook

Pros

1) The company offers ample opportunities for professional growth and development, especially during the early stages (first 2 or 3 years) of employment. 2) Colleagues across all levels and regional locations ( Baddi/Gujarat) are friendly and approachable, fostering a positive work environment. 3) Indian Senior Leadership team do not show any clout of their position and are very much approachable, In contrast to traditional hierarchical structures found in most Indian companies where Senior leadership team work in silos, the senior leadership team here is accessible and approachable. No visible class difference between SLT and middle level/executive level employees in terms of common facilities and benefits.

Cons

Company Culture and Leadership (India):- a) Excessive focus on self-promotion: Many employees feels and express that there is an unhealthy emphasis on individual visibility and make their presence felt among the senior leadership team, especially for those seeking any advancement and promotion in their roles. b) Unfair and highly biased promotion system: Promotions appear to be largely based on personal relationships with Indian senior/global leadership rather than merit, individual contributions , technical knowledge one possess or overall performance. A promotion or role change in finance is nearly impossible even for seasoned employees with 15 years of experience within the organization. Management prioritizes CA qualifications (Indian equivalent to US CPA) when considering any finance member for career advancement. c) Disparity in rewards: A significant gap exists in compensation and benefits between top-level executives and the rest of the workforce, creating a sense of inequality. The company's compensation structure is heavily skewed in favor of top-level executives, with substantial benefits like LTIP ( long-term incentive plans) is exclusive privilege to be enjoyed by this elite group. The majority of employees feel their hard work and dedication are inadequately rewarded. d) Favoritism and bias: Indian and global Leadership perceive a strong preference for the Gujarat team over other locations, leading to feelings of discrimination and resentment within Baddi and Bangalore corporate teams. Stepmother treatment for Baddi plant The company culture seems overly and excessively reliant on the global team, particularly the US leadership teams, for any decision-making. Indian senior leadership often prioritizes gaining visibility with global counterparts over addressing any local issues. This has created a culture of fear and avoidance of conflict with their US bosses. Even director level leaders are hesitant to challenge any decisions taken by US top executives and fear every escalations from US that might negatively impact their Individual career advancement as a future leader and which may tarnish their professional reputation. Limited growth opportunities: Employees, particularly in India finance, feel stagnant in their roles with minimal chances for advancement. There's an undue emphasis on CA qualifications (India equivalant of US CPA) for any higher-level finance roles. This creates a perception among non-CA finance members that they are undervalued, their contributions are overlooked, and their career growth is always hindered. In Finance team the fear of jeopardizing one's career by challenging the HOD or disagreeing with superior is prevalent. Everyone wants to be an "yes" army of their respective bosses Bias galore in favor of the Gujarat team, with the Baddi team and Bangalore teams are often overlooked and undervalued. Overall Morale Low employee morale: These factors combined contribute to a low morale particularly among India Finance team, characterized by feelings of frustration, disengagement, and a lack of loyalty to the company and their managers. In essence, employees feel undervalued, overlooked, and unfairly treated, with limited opportunities for growth and advancement in roles, especially in finance.

Explore other reviews about Daramic

5.0
3 Jan 2022
Recommend
CEO approval
Business outlook

Pros

All great with this job

Cons

None be be seen at the present time

4.0
3 Jun 2026
Recommend
CEO approval
Business outlook

Pros

Good faced paced work environment

Cons

They closed the plant in July

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