It’s been a particularly powerful yr for the general public, companies, governments, and industries. Not solely have individuals misplaced their pricey ones to COVID-19, however they’ve additionally suffered economically on account of job losses, pay cuts, and rising unemployment.
However, a yr since COVID-19, issues appear to be enhancing now as a number of corporations have restored unique salaries for his or her staff, and a handful have additionally provided hikes and bonuses.
Last week, Tata Consultancy Services (TCS) introduced the wage hikes for its staff, their second in six months. In an announcement, the corporate confirmed that it was able to “give increments to all associates across our geographies effective April 2021, in line with our benchmarks”.
Expressing gratitude to its staff for his or her resilience and flexibility, TCS mentioned the step was a mirrored image of its “steadfast commitment to our associates”. Earlier, the corporate had rolled out wage hikes with impact from October 1, 2020. The new payroll comes into impact from April 1, 2021.
Besides TCS, Infosys and HCL Tech, too, introduced hikes in salaries with impact from January following the rising demand for his or her companies.
Another IT big, Cognizant, announced at first of March that it was going to supply bonuses to its staff which might be “substantially higher than 2019”. Cognizant India Chairman and Managing Director Rajesh Nambiar mentioned the corporate recognises professionalism, “client-centricity, work ethic and perseverance of employees globally” throughout the COVID-19 pandemic, and due to this fact they had been rewarding bonuses above the extent of firm efficiency.
Similarly, Accenture additionally introduced a one-time bonus for all its staff globally, barring the extent of managing director, final week. The bonus shall be equal to 1 week’s base wage, it mentioned.
In early March, PwC additionally introduced a one-time bonus for its staff in India. The bonus can be equal to 2 weeks’ pay for its 15,000 staff, the corporate mentioned.
In October 2020, Infosys had mentioned it will disburse salary hikes from January 1. The IT big additionally introduced 100 % variable pay, together with a particular incentive for the second quarter.
HCL Technologies has already introduced hikes for all of its 1,50,000 staff. Vijaykumar, President and CEO, HCL Technologies, mentioned the corporate had delivered a stellar Q2 efficiency, including it will increase salaries for choose workers from October 2020 and others from January 2021.
