Tech Mahindra Makes BIG Announcement on Salary Hike; Junior Employees to Benefit Most- Report

As top leading companies like Tata Consultancy Services (TCS), Infosys, HCL Tech and Wipro have been announcing a salary hike for employees, software major Tech Mahindra joined the bandwagon and announced a good news for employees.

This news is a sign of demand and growth returning to the IT industry amid the COVID-19 crisis.  

According to a Times Now report, Tech Mahindra CEO CP Gurnani said "the company will roll out hikes in early 2021 but hasn't decided the quantum of hikes. It will be given in a staggered manner, with the junior-most employees getting it first, while seniors will get it later."

Recently in the September quarter, Tech Mahindra showed strong results for the second quarter, with margins at a 6-quarter high on the back of a resurgence in demand and supply-side recovery.

"The power of alliances, power of customers, power of 5G and power of digital offerings is working in our favour", Tech Mahindra CEO CP Gurnani told ET NOW in an interview. 

As work from home has become the new normal for most of the IT companies, 20 percent of Tech Mahindra's employees are back to office, compared to 1-2 per at other software companies.

"There is thorough testing done. 20 percent of people have come back to work instead of 5 percent before. They are looking to step out because they miss the innovation drivers on whiteboards and watercooler talks. We ensure they are taking precautions," Gurnani pointed.  

Meanwhile according to data shared by the management for the quarter ended September 30, there are nearly 98 percent of all employees at India's top IT companies such as TCS, Infosys and Wipro continue to work from home.