Good news coming in for some Cognizant employees, as the management has decided to roll out the promotions starting this week.
But this promotion won’t be applicable for all employees.
Which employees will be eligible for promotion? Keep reading to find out more!
Promotions For These Cognizant Employees Starting This Week
All Cognizant employees who are at Associate level will get their respective promotions starting this week.
Around 3-4 lakh employees are ranked till Associates level in the company. Hence, the promotions will apply for all employees from Programmer Analyst to Associate leve.
The promotions will be merit-based, and their performance will be taken into account while rolling out the promotions and the bonuses.
Besides, all the promotions will be effective October 1st, 2020. Hence, the promoted employees will get their increased salary with effect from October 1st, 2020, and will be credited in the next month’s salary.
This has been confirmed by Becky Schmitt, Chief People Officer, Cognizant, who said, “I’m very pleased to share that we are awarding promotions this week for associates moving up to Programmer Analyst through the Associate level, all effective October 1.”
For those employees who are working as Senior Associate to Vice President level roles, promotions will be announced during Q1 of 2021, and will be effective from January 1st, 2021.
Salary Hike, Bonuses Will Be More Than 2019
As we already reported earlier, the salary increment and the bonuses for all employees will be higher than 2019.
CEO of Brian Humphries had earlier said during the Q3 earning call, that “In recognition of the contributions of our associates, we are creating 2020 bonuses at higher levels than 2019. We’re also implementing targeted merge increases and promotions in the fourth quarter.”
The exact amount of salary appraisal and the bonus has not been revealed as of now.
Associates are normally those employees, who have 0-7 years of experience, and Senior Associates are employees with more than 7 years of experience.
But it depends on team to team, and the platform on which they are working.
We will keep you updated, as more details come in.
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