Again it is that time of the year which most of the IT profession wait for considering the extra bucks that they can pocket.
Hexaware Technologies Announces 100% Variable Pay
After Infosy, now Global IT services provider, Hexaware Technologies announced a variable payout which is interestingly over 100 percent for employees on August 29.
The good news doesn’t end here as it ranges from 100 percent for those meeting expectations to 120 percent for high performers with two years of exceptional results.
Overall, this investment underscores the company’s commitment to value the workforce, as Hexaware said in a statement.
Further, the statement noted, “Hexaware recognizes that a happy and engaged workforce leads to enhanced productivity, creativity, and collaboration.”
Hexaware seems to have emerged as one of the rapidly growing brands in the IT services sector in 2023, according to a recent Brand Finance report.
Eventually, this recognition has further pushed the company’s rating to AA, which can be attributed to a significant 66 percent surge in brand valuation over three years, clearly a win for the IT giant.
Moving ahead, Hexaware plans to hire 6,000 professionals this year, despite economic volatility, again a positive sign for the economy.
The retention of employees has also risen from 68 percent in 2021 to 73 percent in 2022.
How Did This Happen?
Reportedly, the IT major’s inclusive work environment extends to its digital infrastructure.
It appears that Hexaware has set its sights on attracting premier global digital talent, being unfazed by geographical constraints or preferred work setups.
The IT company is bolstered by robust security protocols and a congenial organizational culture, hence it is determined to realize this ambition.
Moreover, the company has firmly established itself with a growth rate of over 25 percent in constant currency (CC) during the 2022 calendar year.
Its growth was acknowledged with the Gold Stevie Award for ‘Fastest Growing Tech Company of the Year’ in the 2023 American Business Awards.
Besides this, Hexaware was also recognised by the Economic Times as one of the Best Organizations for Women in 2023, underlining its commitment to diversity.
“We know it’s our people who make the difference. They bring passion, creativity, and drive to our daily work. Today, we honor their dedication with a 100 percent+ variable pay. Even in this challenging economic climate, we will do everything we can to show them that they matter as much as their work does,” said Vinod Chandran, Hexaware’s Chief Operating Officer.
Further adding, “Our determination to go above and beyond in our variable payouts is a testament to our belief that when we support our team, remarkable things happen.”