HCL Tech, an Indian IT services company, has announced salary raise for its employees. However, it will not be the same for everyone. The middle- and senior-level employees will reportedly be excluded from the current raise, reflecting challenges faced by the $250-billion industry in terms of growth.
In an internal mail to employees, Ramachandran Surdararajan, chief people officer, HCL Tech, explained that the decision comes as the leadership wishes to adjust the pay of employees in different job levels. The company also mentioned that it won’t review the pay for E4 and higher-level employees this year. E4 includes middle-level employees, group project managers and senior-level employees.
For the lowest levels (E0 to E2), the changes will be applied starting from 1 October, 2023 which will include new employees to technical leaders. Similarly, for E3 employees, it will start from 1 January, 2024 and will cover middle-level roles up to vice presidents. For the E7 category, covering the senior employees, the company has decided to delay the pay increases by three months, beginning in October, and will also begin the evaluation process for the fiscal year 2024.
The company usually conducts salary reviews in July. However, this time it will happen in October. The firm wants to make things simpler by matching the salary review cycle for some employees with the yearly cycle.
The raise will (those in E0 to E3 positions) cover about 90 per cent of their workers.
All employees will get that extra pay, which only a few employees get every quarter. It is usually a small part of their salary (about 3 per cent) .
