These are tough times, not just for the ones following lockdown sitting in homes but also to industries. This time is marked by job losses, salary cuts and bad news from all around.
Multinational companies are registering unprecedented losses, with top giants laying people off and cutting salaries of their employees to bring down company expenses and costs.
Amidst all of these, today we bring to you news from the global IT and professional services company Accenture. It has been reported that the IT giant has not only not cut its employees’ salaries but also have provided them with bonuses.
Accenture Hands out Bonus
Accenture is among the largest employers in the IT sector in India. It recorded a hiring of about 2,500 people every month in the country, as of last year, on an average.
Even with the lockdown going on and a reduction in the profits generated by the companies, the IT giant has paid out bonus amounts and given promotion to a large section of its Indian workforce.
Since the last few weeks, Accenture has been paying out bonuses to more than half its 2,00,000 employees in India, working across various domains, like technology, and business management centres.
Earlier, it was reported about Accenture that the company had decided to honor job offers made to freshers, or new recruits. So far, as per our reports, it has been honoring all the job offers made, while associated benefits are effective from the date of joining.
The notable and well-appreciated fact here is that Accenture’s decision about bonus and promotions comes at a time when several leading industry peers have deferred or suspended pay hikes and promotions.
What Other Companies Are Doing?
The IT sector is one of the largest employers in the country, with close to 45 lakh employees and handing out more than 20,000 job offers every month.
As per Nasscom, the industry hired 205,000 new employees in fiscal year ended March 2020.
Wipro claims to have deferred several pay hikes and promotions, to a later period. However, the company has made sure thatit will honour all offer letters made to candidates.
In fact, they have also promised to continue hiring from lateral sides if required, for critical roles.
Last month, the IT giant had announced its decision to suspend promotions and salary increments. They said that for the time being, they will be suspending any promotions or increments, for a year’s time.
Whenever the situation appears to have settled down, they claim to bring many other initiatives under control at any cost, as per their assurance. The company refused to comment on any queries related bonus pay-outs.
At Tech Mahindra, the top and senior management has taken significant cuts in variable pay for the ongoing first quarter of fiscal 2021.
The chief people officer Harshvendra Soin said that this step is taken to ensure that the variable payout/bonus of majority employees at the junior level is paid as per applicable policy.
Capgemini paid variable and bonuses to all its employees in March. The French IT major also gave increments and promotions to all junior professionals effective April 1, which covered more than 70% of the employees.