Capgemini India rolls out wage hikes and promotions effective 01 July 2020
Admit the COVID-19 pandemic when most companies in India have withheld salary hikes and effected pay cuts, Capgemini has rolled out wage hikes and promotions for all its employees in India. The quantum of hikes is said to be in high single digits.
In April, the company had announced a salary hike for 70 percent of its employee base (84000 employees in India), A & B Grade. Now, the remaining all employees comprising the middle and senior-level staff will be getting hikes effective from 01 July 2020.
Ashwin Yardi, CEO of Capgemini India said, “Not just in the IT sector, ours is probably the only company (in India) which has offered salary increments. Of course, there are eligibility criteria. But across the board, we have announced the increments and promotions, while the variables (payments) were announced in April.
He said, “while the company is not looking at retrenching staff to deal with COVID-induced business impact, it will go for the usual performance-related reviews which is likely to result in some employee exits. “We follow the January-December performance cycle. Traditionally, 4-5 per cent employees who figure in the bottom are given two-three months to better their performance.”
“The firm may have to calibrate its hiring plans. The company had intended to hire 25,000 this year, including 15,000 laterals,” he added commenting on the hiring plan.
Even amidst the COVID-19 crisis, Capgemini India has already recruited over 9,000 new hires in the April-June period and successfully onboarded 3,000 employees in the last three months” said Yardi.
Capgemini is a global leader in consulting, digital transformation, technology, and engineering services. The Group is at the forefront of innovation to address the entire breadth of clients’ opportunities in the evolving world of cloud, digital, and platforms. Today, it is a multicultural company of 270,000 team members in almost 50 countries.