The US-based IT corporate Cognizant is reportedly rolling out its annual hikes for a majority of its staff. According to a record in Economic Times (ET), that is the 3rd cycle of hike to be given previously 18 months. It is a part of the ‘two-merit cycles’ in a yr – a one-time measure introduced by means of the corporate in November 2022 – to arrest the emerging attrition within the corporate.
CEO electronic mail on hikes to staff
“This week, the vast majority of you who are in levels up to Associate Director will receive your 2023 merit pay eLetters. Keep in mind that we advanced this merit increase to be six months earlier in the year, following year-end performance reviews. This means many of you are seeing your third merit increase in 18 months,” mentioned CEO S Ravikumar in an inside mail to the corporate’s staff. The electronic mail additional added that blended with the advantage will increase to eligible administrators and above who gained hikes in January, Cognizant is awarding greater than 300,000 mates a advantage building up this yr. The first cycle used to be awarded with impact from October 2022. ET has noticed a replica of the e-mail.
TCS to offer 100% variable to staff
India’s greatest IT services and products corporate Tata Consultancy Services (TCS), all over its income announcement closing week, mentioned that it is going to award annual increments to staff with impact from April and that the highest performers shall be awarded 12-15%. It additional introduced 100% variable pay for all eligible staff for the fourth quarter of the yr. TCS’ leader human assets officer Milind Lakkad Said that the wage revisions shall be as standard, and the highest performers gets a 12-15 in keeping with cent hike. Lakkad added that the corporate shall be paying the entire variable pay to its mates for the fiscal.
CEO electronic mail on hikes to staff
“This week, the vast majority of you who are in levels up to Associate Director will receive your 2023 merit pay eLetters. Keep in mind that we advanced this merit increase to be six months earlier in the year, following year-end performance reviews. This means many of you are seeing your third merit increase in 18 months,” mentioned CEO S Ravikumar in an inside mail to the corporate’s staff. The electronic mail additional added that blended with the advantage will increase to eligible administrators and above who gained hikes in January, Cognizant is awarding greater than 300,000 mates a advantage building up this yr. The first cycle used to be awarded with impact from October 2022. ET has noticed a replica of the e-mail.
TCS to offer 100% variable to staff
India’s greatest IT services and products corporate Tata Consultancy Services (TCS), all over its income announcement closing week, mentioned that it is going to award annual increments to staff with impact from April and that the highest performers shall be awarded 12-15%. It additional introduced 100% variable pay for all eligible staff for the fourth quarter of the yr. TCS’ leader human assets officer Milind Lakkad Said that the wage revisions shall be as standard, and the highest performers gets a 12-15 in keeping with cent hike. Lakkad added that the corporate shall be paying the entire variable pay to its mates for the fiscal.