IT major, Hexaware Technologies gives 100% variable pay to its employees. And the exceptional performers will be receiving 120% variable pay.
Vinod Chandran, Chief Operating Officer & HR head at Hexaware Technologies said, “Our determination to go above and beyond in our variable payouts is a testament to our belief that when we support our team, remarkable things happen.”
“While our peers have deferred it, we gave offshore employees a 6% hike and our best performers have got between 14% to 16% salary hike”, Vinod Chandran added.
“Freshers who have spent two years with us and have performed well have got a 20% hike,” Vinod Chandran further said.
Other IT Companies on Salary Hike
Wipro has announced that it has postponed the salary hike of its employees to the 3rd quarter, the salary hike given in September last year will be postponed to the October-December quarter this year. The company plans to carry out the pay raise in the third quarter of the year instead of Q2.
TCS said 70% of the employees will get a 100% variable payout for the June quarter. TCS has rolled out an annual salary increase with effect from April 1st. The company has given a 12-15% raise for exceptional performers in the latest annual compensation review and also commenced the promotions cycle.
The technology company HCLTech has deferred salary hikes for their employees by one quarter.
According to the reports, Chief People Officer Ramachandran Sundararajan said, “Typically, this time of the year, we make our announcements on pay reviews.”
“Last couple of years the hiring that we have done and the compensation reviews that we have done, we have taken that into consideration and have taken a decision to defer our annual reviews by a quarter,” Ramachandran Sundararajan added.
Infosys employees will receive 80% of their variable pay in the June quarter. Some of the top performers have received payouts of 95%.
The company has deferred the salary hikes of its employees which it usually rolls out from April for its employees below the senior management level.
Usually, Infosys rolls out pay hikes for employees below the senior management level in the month of June quarter, but employees yet have not received any communication from the company.