If you join Innovecture, you will just become an employee of the company. There are no corporate gatherings, outings, or trips provided by the company.
Since the current Indian CEO came on board, he has cut down on all these kinds of expenses to increase the so-called revenue of the company. It's unbelievable; he has reduced the reward and recognition prize from 5000 to 3000 and eliminated beers from the parties.
Innovecture gathers employees once in a quarter, but there is no consideration for employees outside Pune. There is neither accommodation nor reimbursement provided for them. Additionally, no one inquires about meals at the office, as the CEO only orders food for himself.
According to the Indian CEO, events such as the COVID pandemic, the Russia-Ukraine war, the Israel-Palestine conflict, and the UK bank crisis are major blockers for our appraisal. Before every appraisal cycle, he spends 25 minutes in a 30-minute meeting with each employee discussing these issues. There is a very low level of scrutiny on expenses, and it seems excessively frugal.
Despite having 4 HR personnel for about 40-50 employees, it takes them 2-3 months to send out appraisal letters. The strange part is that we receive the appraisal letter only after receiving incremental salaries. Poor employees spend nights calculating the hikes themselves.
