5 key complaints from SEBI employees on ‘toxic’ work culture: Public humiliation, work stress and more | Trending

Securities and Exchange Board of India (SEBI) officials have highlighted the “toxic work environment” at the capital markets regulator under chief Madhabi Puri Buch. In a letter to the finance minry titled “Grievances of SEBI officers – A call for Respect,” the employees highlighted unprofessional behaviour on part of the top management. SEBI officers wrote to the government highlighting toxic work culture at the organisation(HT photo) Here is a look at 5 key grievances that SEBI employees have complained about: Unrealic KRA targetsSEBI officials said that management had overhauled the organisation and introduced “unrealic KRA targets” with changing goalposts. “Despite struggling and toiling hard to achieve KRA targets for last year, KRA targets for this year were increased anywhere around 20%-50% for some departments and divisions,” the letter alleged. “Employees are not robots with a knob that one can turn and increase the output.” It also pointed out that SEBI is not a sales organisation where the only objective is to surpass KRAs and do better than last year. “The work done at SEBI impacts lives of so many people in this country, working frantically to only achieve unrealic targets to protect oneself from the ire of people at the highest level is a disservice to SEBI and the people of this country,” it said. Immense work pressureStemming from unrealic targets was another complaint – stressed-out employees working overtime to achieve KRAs. “This kind of work environment in recent times has resulted in immense pressure on the employees of SEBI and has resulted in a stressful and toxic work environment. The SEBI which used to be a place where people used to work joyously and efficiently has become a furnace of unrealic KRA point achievement,” employees said. The letter further said that many SEBI employees were forced to work overtime and work on weekends to keep up with the work pressure. “Officers who live far away take files with them so they can work from home after office hours and weekends,” it alleged. SEBI officials also highlighted “stress and anxiety in employees who bear the brunt of all the work that is pushed onto them” while claiming that in many departments, the senior and middle management has no “value addition” but only “panic addition.” Public humiliationSEBI employees objected to the unprofessional behaviour of higher management, saying that shouting, public humiliation and name-calling had become the order of the day to such an extent that even senior officers are afraid to attend meetings because of the “bad behaviour” of “people at the highest level.” “At one time, the employees will be name called and at other times they would be shouted at the leadership with no defence from top management,” the grievances letter alleged. It further alleged that fear had become the primary driving force at SEBI. “Unprofessional language is casually used people at the highest level. Shouting, scolding and public humiliation have become a norm in meetings,” the letter said. Officers added that SEBI management had adopted a leadership style where “employees are browbeaten into submission, using harsh and unprofessional language,” and called for an end to this practice. Swing barriersSwing barriers to monitor attendance became another sore point with SEBI officers who said that it showed a lack of trust in employees. “One of the ways mrust towards employees has surfaced is installation of swing barriers to monitor intra-day attendance of employees. Many private organizations are moving away from even biometric attendance systems to promote a positive work culture and showcase trust in their employees,” the letter said. In their letter, SEBI officers said that people at the highest level of the organisation seemed to be living in the 1950s, when it was the largely-held view that employees are not self-motivated and avoid work. contrast, SEBI is an intellectual organisation that succeeds because its employees are self-motivated. It said that installing swing barriers to mark intra-day attendance is an insult to employees and reflective of the management’s drust. The complaint also noted how management tends to monitor employees minute–minute. Mental health impactedIn “Grievances of SEBI officers – A call for Respect,” SEBI officers said that the management’s attitude, the toxic work culture and work pressure had adversely impacted the mental health of employees. In fact, officers said that the mental health counsellor who earlier had only a few bookings has now been inundated with appointments. As a result, the HR has had to increase the counsellor’s number of visit days and has had to open up unlimited mental health counselling for employees.