HCLTech would pay 85 percent of its employee’s variable pay for Q4 FY 2022-23. In the same manner, as in previous quarters, 85% of the company’s employees will receive variable pay for Q4 FY23, the company announced this development .
During the quarterly earnings call HCLTech’s Chief People Officer (CPO) Ram Sundarajan addressed the much-asked question and said, “Let us start with the variable pay question. I think it’s a very top of the mind question for everybody. We are not making any change to our variable pay plans. 85% of our workforce will be in a variable pay plan this quarter.”
“Variable pay is just about 5%, so it’s not a big percentage of employee compensation. So far as the policy is concerned the variable policy pay, there is no change in the policy.” he added.
Depending on the company’s performance and the performance of individual employees, variable pay is an important part of employee compensation.
Also read: Gurugram woman employee charges HR manager of stalking harassment
As of Thursday, corporate profits rose 10.80 percent year-on-year (YoY) at Rs 3,983 crore, compared to Rs 3,593 crore in the March quarter last year. In addition, the company reported 17.70 percent YoY growth in net sales for the quarter at Rs 26,060 crores against Rs 22,597 crores last year.
HCLTech’s CEO, C Vijaykumar said, “Our pipeline is near an all-time high, which reflects our differentiated business mix and strong client demand for our offerings.”
“All these set us well in FY’24 for a healthy revenue growth in the 6-8% range with Operating Margins in 18-19 per cent range,” he added.
Stay connected with us on social media platform for instant update click here to join our LinkedIn, Twitter & Facebook
