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

Topics India Inc | Cognizant | HCL

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 use.....

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