It’s the appraisal season and everyone looking forward to it. As one has slogged over and as they say money is one of the most highly motivating factors one can hope for.
Employees at the top Indian IT companies are seeing single digital pay hikes and are not very much happy with the way things are progressing.
As compared to their hikes, there have been single digit salary hikes and companies are paying a greater portion of their variable pay component on their parameter in response to higher growth rate and pay as compared to the earlier components.
The factors are faster growth and a high people attrition.
Many of the employees are very unhappy with the marginal pay hikes and are seeking a new change over it. Many of them are also venting out their ire on Facebook and other social media platforms and are also expecting large pay-outs.
The employees have pointed out that the quarterly bonuses have also been very less, and they would like to see an increase in them also. TCS had a total attrition rate of around 11 % and people have also started getting their hike letter and being able to reach the highest levels in the IT capital of India Bengaluru.
They cannot take back a salary hike but will have to arrange for a variable pay and for a they will have to plan their finances accordingly.
The Indian IT firms and their growth factors-
The Indian IT firms are seeing double digit growth and are also experiencing a fast and upward growth trend. This is because the markets in the US and the Europe are experiencing a fast digit growth rate.
They are also seeing their demand as customers and are experiencing an exponential growth.
The companies on the other hand will have to boost their revenue in terms of digital marketing as it is through to its next wave and are also seeing a strong growth in terms of the IT prospects.