IBM

1. Exposure to the latest technologies.
2. Interfacing with the best in the business experts, SMEs, and architects.
3. Some flexibility to work from home, with unlimited casual leaves as long as your manager is on good terms.
4. Reimbursement of quite a lot of expenses, which you wouldn't be able to in other companies, and you only need manager approval.
5. Shift allowance and night shift can add up to 2L.
6. Yearly bonus, apart from the variable component, to the tune of 70k up to 1.5L if you are on good terms with your manager.

1. Cost cutting
2. Transport sucks
3. 'Bonds' for anything and everything
4. 3-month notice while quitting
5. Long service agreements for even a short onsite trip, e.g., serve 6 months for a 1-month trip, serve 1 year for a 3+ month trip.
6. GDF/Lean process is driving people crazy
7. Flexible options like work from home are slowly becoming scarce
8. Unless you are a very critical resource, they will never hike your salary

You have the brightest minds in the business. Why are you training people, involving lots of cost, so that competitors can drag them away with higher salaries?

Give the best in the industry, and you will be successful in retaining the best.

IBM is known for flexibility. Don't impose a school-like culture through GDF in the name of process.