After Wipro, this is the most significant upset as far as this year's rankings are concerned. From a glorious #3 position, HP India drops to #8-largely a fall-out of widespread employee dissatisfaction on a number of counts. Though the company tops the chart as far as its retention rates (94%) are concerned, that didn't necessarily translate into good employee score ranking, where it dropped from #2 to #11. The saving grace was its HR score rank, which improved from #9 to #5. 
HP was seen losing its charm with over 60% of its own employees no longer ranking it as the preferred employer. Its image as a dream company also took a beating with only 3.3% respondents voting for it-putting it at rank #6, much behind its competition IBM and Sun. And its priorities were seen shifting from people to toplines. This shows up very well in two parameters-related to people and job content/growth, where company's rankings dropped to #18 from #4 and #12 from #3, respectively. 

In 'relationship with the boss', the ratings are low. However, it continues to rank 1st on: “People in my company treat each other with mutual trust and respect”. 
But the most stark observation appears on parameters related to job content, where HP ranks 13, 14 and 17 (as against 5, 2 and 5) on: “I am excited about the work here”; “People around me are passionate about work”; and “I have exciting growth opportunities”, respectively. Things look more gloomy given that crib-levels on salary and appraisal have shot up. It was #1 on tax-efficiency of salary last year but is #11 this year. Also as far 
as salary hikes are concerned, with 8% average increase, it ranks 
20th this year.
On the plus side were the two statements: “I would definitely recommend it to close friends of mine”-where it ranks #2 and “I would leave this job for 20% hike offered elsewhere”-where only 8.7% employees were willing to do so (fourth lowest in industry).