HCL plans to give Mercs to performers – Times of India
BENGALURU: It’s a technologist’s market and IT firms are warming up to cool perks and cash-based incentives to retain talent as replacements may come at 20% higher costs. Top performers in HCL Technologies, for instance, might drive home a Mercedes-Benz.
HCL CHRO Apparao V V said the proposal is with the board for approval. The company had given out 50 Mercedes-Benz cars to top performers in 2013, but later discontinued the practice.
“Replacement hiring cost is 15-20% higher. Hence, we are skilling our workforce. If you need a Java developer, you will get them at the same price point. But a cloud professional can’t be hired at the same price point,” he said.
HCL’s IT services attrition on LTM (last 12 months) basis rose by 11.8% in the June quarter, compared to 9.9% in the quarter before. He said IT firms are also dealing with candidates backing out of job offers. “Job-seekers are finding multiple opportunities,” he said.
HCL CHRO Apparao V V said the proposal is with the board for approval. The company had given out 50 Mercedes-Benz cars to top performers in 2013, but later discontinued the practice.
“Replacement hiring cost is 15-20% higher. Hence, we are skilling our workforce. If you need a Java developer, you will get them at the same price point. But a cloud professional can’t be hired at the same price point,” he said.
HCL’s IT services attrition on LTM (last 12 months) basis rose by 11.8% in the June quarter, compared to 9.9% in the quarter before. He said IT firms are also dealing with candidates backing out of job offers. “Job-seekers are finding multiple opportunities,” he said.
