Capgemini, Cognizant & Other Companies Are Increasing Salaries, Bonuses Right Now!
During such kind of crisis, there are a few delightful exceptions who are offering hikes, even during difficult times.
Which Companies Are Providing Incentives To Their Employees?
This year, IT major Capgemini is giving 70% of its employees a higher single-digit pay hike.
This is around 84,000 employees who will enjoy increased pay, starting April 1, while the remaining staff will get appraisals in July, according to TOI reports.
Apart from this, it is also one of the select few companies that is absorbing all the campus hires it had extended offers to.
Which is over 4,000 job offers to lateral hires, and to 2,000 freshers in the quarter ending March.
What Does Capgemini Say?
CEO at Capgemini India, Ashwin Yardi said, “This is a black swan event and at this point, it’s not a question of timeline, but how our business will evolve. And we have a clear view as to what our economic model is going to look like and we don’t see any reason to discontinue this approach,”.
Not only this, the French IT multinational, with a heavy presence in India, is also giving away cash allowances worth Rs 10,000 to employees who are not left with any means to relocate and are stranded without accommodation.
Also, the ‘shift allowance’ will now be extended to its ‘work from home’ employees as they practice social distancing.
Further, the company said that it will focus on retaining employees, even those on the bench, who are not working on billable projects.
Normally, the grace period for those on bench is up to 60 days and IT majors generally have 8% of employees on the bench.
What About Other Companies?
Apart from Capgemini, digital payments startup BharatPe also decided to give its employees a hike.
CEO and co-founder, Bharatpe, Ashneer Grover said, “I closed the appraisals two days ago and I have given a 20% hike to my employees. To me it’s like cycles will come and go, but can you keep your sanity and be ready to build a bigger business,”.
Apart from that, the American IT multinational Cognizant too said it will bump wages for those up to the associate level.
Which basically consists of almost the two-thirds of its 200,000-strong workforce in India.
Also, they have announced 25% more pay on the base salary for the month of April to its employees in India and the Philippines as a “sign of gratitude” for their consistent efforts even during the pandemic.