HCL Plans To Give Mercedes-Benz To Performers
- ByAyushi Ray | July 21, 2021
HCL plans to give Mercedes-Benz to performers. HCL CHRO Apparao VV said the proposal is with the board for approval. The company had given out 50 Mercedes Benz cars to top performers in 2013, but later discontinued the practice. “Replacement hiring cost is 15-20% higher. Hence, we are actively participating in skilling our workforce. If you need a Java developer you will get them at the same price point. But a cloud professional can’t be hired at the same price point,” he said. HCL Technologies plans to hire 22,000 freshers in the current financial year, compared to 15,600 last year. “HCL has a good retention package with a three-year cash incentive scheme which is 50-100% of the CTC every year. At least 10% of the critical talent in the leadership teams have benefited from it,” he said.
HCL’s IT services attrition on LTM (last 12 months) basis rose by 11.8% in the June quarter, compared to 9.9% in the quarter before. Apparao said Indian IT firms are also dealing with candidates backing out of job offers. “Reneging a job offer is very high today as prospective job-seekers are finding multiple job opportunities,” he said. TCS CHRO Milind Lakkad said the overall job market is hot. “So, yes, there will be some impact on attrition. But it is part of our operating model, and we will manage that. I don’t think it will have an impact on any business parameter materially,” he said in a recent statement. Infosys’ voluntary attrition, calculated this time on an LTM basis, rather than being quarterly annualised, rose sequentially to 13.9% in the first quarter, from 10.9%. Infosys COO UB Pravin Rao said given the high demand, attrition will probably be around this level for the next couple of quarters.
Follow Startup Story
Related Posts
