Minister of State for Finance on Sunday over a new toxic work culture that is prevailing in Sebi under the leadership of Chairperson-Madhabi Puri Buch.
Some of the allegations, which include unprofessional conduct, mental health problems, and unrealistic targets, have been reported to the finance ministry, as highlighted in the Economic Times report.
What the grievances, spelled in the letter titled ‘Grievances of Sebi Officers: A Call for Respect’, point towards is that there are several issues concerning Sebi’s work environment that are raised, which are rather worrisome.
In the letter that has been signed by over 500 officers of the company with a rank of Grade A and above, the leadership steered by Buch has reduced the normal process of meeting to shouting, scolding, and subsequent public humiliation.
Combined with the use of strictly forbidden “harsh and unprofessional language,” the situation at the US branch resembles true oppression that has highly negative effects on people’s mental health.
The officials have said that due to the fear of being punished, which has cultivated a culture of many employees, including high-grade employees, to stop voicing their concern because of the vindictive nature of people at the highest level for the past two to three years, the most driving force within Sebi has been the fear.
Unrealistic work targets and monitoring B Brisbane Business Women—Business Women Brisbane
The letter also raises issues with the management over issues to do with work targets, which have been provided as unrealistic targets with moving goalposts leading to increased stress and anxiety.
The officials proclaimed that these targets are like an indication that employees are treated as ‘robots with a knob that one can turn and increase the output’, which is unhealthy and counterproductive for employees.
Besides, the management has put in turnstiles gates that keep track of the intra-day attendance of employees, and they have not been well received.
