A recent report reveals that the Information Technology and Software sectors in India will likely increase the salary of their employees by 120 percent.
How Did This Happen?
If you are wondering about the important reason for this change of companies attitude then here is the answer that the IT and software sectors including the big IT companies like TCS, Wipro, Infosys are affected from the continuous attrition for the past some months.
So, in order to retain these techie’s among this attrition, IT firms take in hand this kind of salary hike and bonus giving ideas.
In case of full stack Developers, the IT companies need to get the salary increment.
Basically, they need the salary hike in the range between 70 to 120 percentages.
Negative Impact Of Attrition
In India, many of the IT companies including the big firms like TCS, Wipro are affected by the negative impact of the attrition from the past quarter of the fiscal months.
Besides this, some IT giants are also planning to provide bonuses to retain their knowledgeable employees.
In the similar fashion, the leading IT firm, Wipro decided to increase the salary percentage of their workforce.
It has also announced the activation date of this salary hike.
Further, the wage increment for their workers will take effect from the month of September 1st 2022, as per the company’s report.
Another IT major, TCS has an idea to hike their employees salary from 5 to 8 percent.
According to its latest announcement, the excellent performers among their work force will also get some hike increments.
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