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From Cognizant to HCL, India Inc opens up purse for employee retention

HCL had announced a one-time special bonus of $90 million earlier this month to employees around the world as it crossed the $10-billion revenue mark

service sector, jobs, employment, IT sector
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While TCS announced its decision to raise salary for all its employees effective from October 1, Infosys hiked wages across board beginning January.

Samreen AhmedViveat Susan PintoT E Narasimhan Bengaluru/Mumbai/Chennai
Employees of some top Indian companies were in for a pleasant surprise when they received a mail from their HR team announcing a hike in salaries and bonuses. 

Led by IT firms and start-ups, HR managers say that while some have offered cash and stock options, others are in a wait-and-watch mode and add the trend will pick up in other sectors.

For example, IT giant Cognizant — which had an attrition rate of 19 per cent in the December quarter — has established a $30-million employee retention fund in order to bring down the high attrition rate. This fund will be

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First Published: Feb 19 2021 | 6:10 AM IST

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