Business Standard

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

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

Don't miss the most important news and views of the day. Get them on our Telegram channel

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

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to