Software firm Hexaware announces 100-120% variable pay to all employees

Software services firm Hexaware Technologies Wednesday announced up to 120 per cent variable pay to its more than 28,500 employees.

The payout ranges from 100 per cent to all employees and up to 120 per cent for high performers who have shown exceptional performance for two years, the city-based company said in a statement.

Of its 28,500 employees, as many as 20,000 are based in India.

Despite the prevailing economic volatility where companies have put hiring on hold, Hexaware has committed to on-board around 6,000 experienced professionals this year, it said.

While the entire software industry is facing high attrition levels, the company claimed that its employee retention has seen a significant leap, jumping from 68 per cent in 2021 to 73 per cent in 2022.

In 2022, Hexaware's revenues grew over 25 per cent in constant currency terms.

The company is confident of maintaining this growth pace in 2023 in spite of the anticipated macroeconomic headwinds.

Chief operating officer Vinod Chandran said their average payout was 103 per cent last year, which he claimed is significantly higher than peers.

Hexaware has over 40 offices across 19 countries.