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Thursday, Mar 07, 2002

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`Poaching' fears

Richa Mishra

THREATENED by the prospect of having their bright employees "poached" by major competitors, a section of the industry, especially those in high-profile segments such as information technology and telecom, favour doing away with the provision of disclosing employee details in annual reports.

Citing IT majors such as Infosys as a case in point, industry watchers said since the companies had Indian employees abroad, they need to be exempted from disclosing employees details in their annual reports as there were chances of competitors luring away their employees. Besides, the trade and industry has also been asking the Department to do away with the provision on account of costs, as the size of the annual reports, which run into pages, proves costly to the companies.

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