Techies get a sen­ti­ment boost with pay hikes

IT com­pa­nies an­nounce pay rise and pro­mo­tions across all lev­els

The Hindu Business Line - - FRONT PAGE - VENKATESH GANESH

Mum­bai Oc­to­ber 16

IT com­pa­nies an­nounc­ing salary hikes could boost sen­ti­ments for techies who are feel­ing the ef­fects of the eco­nomic down­turn due to Covid-19 and the US visa re­stric­tions.

TCS said that it has rolled out salary in­creases with ef­fect from Oc­to­ber1. This was fol­lowed by In­fosys, which said that it will roll out salary hikes and pro­mo­tions across all lev­els ef­fec­tive Jan­uary 1. Sim­i­larly, HCL Tech said that it will hike salaries for se­lect staff from Oc­to­ber and for the rest from Jan­uary. Mindtree Chief Ex­ec­u­tive Of­fi­cer and Man­ag­ing Di­rec­tor

De­bashis Chat­ter­jee said the com­pany com­pleted its pro­mo­tion cy­cle in the sec­ond quar­ter, and salary in­cre­ments will be ef­fec­tive from Jan­uary.

Pos­i­tive im­pact

Specif­i­cally for techies who can­not go back to the US at the mo­ment this is an en­cour­ag­ing sign of be­ing able to be gain­fully en­gaged within In­dia, ac­cord­ing to Ri­tu­parna Chakrabort­y, Co­Founder & Ex­ec­u­tive Vice-Pres­i­dent, TeamLease Ser­vices.

Agrees Karun­jit Kumar Dhir, Co-founder, SCIKEY, a tal­ent so­lu­tions provider. “This will def­i­nitely have a pos­i­tive im­pact on the sen­ti­ments among techies, who will now look for jobs in In­dia es­pe­cially due to the strain in­volved in H-1B visas,” Dhir said.

This also needs to be seen in the con­text of com­pa­nies ei­ther can­celling or with­hold­ing per­for­mance bonuses dur­ing Covid-19. How­ever, IT com­pa­nies have seen an uptick in de­mand for their ser­vices, which has re­sulted in the salary hikes. The Top-5 IT com­pa­nies col­lec­tively em­ploy more than 1 mil­lion or 25 per cent of the to­tal 4 mil­lion work­force.

While com­pa­nies have not yet pro­vided specifics on the salary hikes, in­dus­try watch­ers think they could be high for new-age ex­per­tise and lower for legacy or older skills.

New skills

Saran Bala­sun­daram, Founder and CEO of Han Dig­i­tal, an IT tal­ent con­sult­ing firm, said: “We hear from the cus­tomers that legacy skills may or may not have at­trac­tive salary hikes. How­ever, techies with demon­strated skills like dig­i­tal, cloud, and an­a­lyt­ics could see a 15 per cent salary hike for those in the 3-10-year ex­pe­ri­ence bracket.”

TeamLease’s Chakrabort­y sees this as a move by com­pa­nies to keep their top tal­ent mo­ti­vated and to re­tain them.

In 2018-19 fi­nan­cial year, the av­er­age salary hikes off­shore were 6 per cent and on site was in the range of 1–1.5 per cent.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.