India’s 3rd largest IT firm: HCL has emphatically declared that despite the slowdown in business, and the economic impact of coronavirus, they will pay all promised bonuses all 150,000 employees.
Amidst the gloom and negativity all across the IT industry, this is a great morale booster from HCL.
HCL: We Will Pay All Promised Bonuses, Won’t Cut Any Salary
Apparao VV, chief human resources officer, HCL has confirmed that HCL won’t roll back any promised bonuses and incentives from last year, and they will be honored.
He said, “Our belief is that the bonuses that we are paying are a function of what people have delivered in the last 12 months, and we should honour our commitment to our people,”
Besides, no salary cuts for any employee has been promised for all 150,000 employees.
Infact, they will honor all 15,000 job offers made to freshers before the coronavirus outbreak happened.
And right now, 5000 job openings exist with HCL.
HCL Is Weathering The Storm Bravely
Apparao informed that they are experiencing a lot of slowdown in on-boarding of new projects and clients, but thankfully, cancellation of projects are not happening that much.
He said, “We haven’t seen any cancellations (of projects) but onboarding of new projects has been delayed a little. However, we are seeing a lot of green shoots; today, we have 5,000 open requirements, so we are recruiting in some areas, which are good, neutral and positive (areas).”
At the same time, he informed that attrition has dropped by 50%, which means that lesser employees are leaving their jobs.
This means that lateral hiring will reduce in the coming days, but the demand for freshers will strongly persists.
He said, “So, the lateral demand might come down due to lower attrition, but the demand for freshers will remain intact. Again, these things can dramatically change if we see the pandemic peaking,”
Interestingly, bigger IT firms like Infosys, Wipro, TCS have delayed all bonuses, but have assured no salary cuts.
We will keep you updated, as more details come in.