Good News for Employees: Leading IT Company announces Salary Hikes and Promotions! Details

At a time when most of the private sector companies have reduced their employee’s salary hikes and gone ahead with pay cuts if not for layoffs, Information Technology (IT) company Capgemini has given wage hikes and promotions for all its employees in India. 

The French firm announced a salary hike for almost 70% of its employees (Grade A and B) in India. Fore rest of the employees who are in the middle and senior- level, salary increments have been offered from July 1. 

Ashwin Yardi, Chief Executive Officer, Capgemini India told Business Standard,” Not just in the IT sector, ours is probably the only company (in India) which has offered salary increments. Of course, there are eligibility criteria. But across the board, we have announced the increments and promotions, while the variables (payments) were announced in April.

Capgemini is the largest multinational IT employer in India after IBM and Accenture. The company employs almost 125,000 employees in India.

Yardi stated that while the company is not retrenching staff to deal with the losses incurred due to COVID, it will be analyzing performance-related reviews and might result in some employees exiting the company. “We follow the January-December performance cycle. Traditionally, 4-5 per cent employees who figure in the bottom are given two-three months to better their performance.”

While talking about the hiring plans, he said that the company is intending to hire 25,000 people this year including 15,000 laterals. However, he indicated that there might be a decline in the number of freshers hired. The onboarding of new employees is getting delayed due to the pandemic but he told the media that the company has hired more than 9,500 new employees, out of which almost 3000 were hired in the last three months.