Cheer for employees of IT companies: Salary hikes amid Covid gloom
Many companies had deferred increments last year due to the pandemic-led disruptions
Given the unprecedented times of the coronavirus pandemic, people are facing the resource crunch in terms of financial and basic necessities, a hike in income is surely a relief to many.
Some IT companies have announced a double hike for their employees, after a period of delay experienced due to the Covid-19 pandemic.
Pandemic weighs down increments
Many companies had deferred increments last year due to the pandemic-led disruptions. After halting the pay hike in the first half of 2020, most companies decided to roll out their pending hikes as soon as business momentum picked up.
With the amplification of talent, intense competition, few companies have started rewarding their employees with increments and promotions since the late last calendar year and early 2021.
IT giants to deliver hikes
Many media reports suggest that IT giants like Accenture, Infosys, TCS, HCL, have decided upon the second round of salary hikes and promotions within months of the previous one.
Accenture India, which has over 2 lakh employees, rewarded its employees with an increment last December, followed by an added round of promotions in February this year.
Along similar lines, TCS gave hikes within a six-month gap to senior employees in the range of 6-8%, higher than normal. As per some media reports, they have also started giving revised salaries since April 2021 to all their staff.
Other companies like Wipro and Infosys have also hinted at giving increments and promotions.