Cognizant will start rolling out promotions for employees this week effective October 1, 2020. The promotions announced are for employees up to the associate level.
Promotions for senior employees will be announced in January-March 2021 quarter, the company said in an email to employees.
In an email to employees, Becky Schmitt, Chief People Officer, Cognizant, said, “I’m very pleased to share that we are awarding promotions this week for associates moving up to Programmer Analyst through the Associate level, all effective October 1.”
“Promotions into Senior Associate to Vice President level roles will be announced in Q1 2021, effective January 1, 2021. Promoted associates will be notified by their managers,” the mail added.
The first set of employees getting promotions now typically have few years of experience. For instance, an associate could have anywhere between 3-7 years of experience, pointed out an employee. A senior associate and above have significant experience in the field and have more responsibilities.
These promotions are merit-based and bonuses are likely to be higher than that of 2019.
In its Q3 earnings call, Brian Humphries said, “In recognition of the contributions of our associates, we are creating 2020 bonuses at higher levels than 2019. We're also implementing targeted merge increases and promotions in the fourth quarter.”
The Teaneck-based company gives promotions in two cycles, March and October. The IT major had suspended promotions in the March cycle due to the COVID-19 pandemic.
The company in August said promotions would be streamlined into a single cycle for all levels to drive efficiency. The employees with sustained high performance would be rewarded accordingly, the company has said in a mail then. However, it is not clear how many promotions are planned.
The company employs about 2.8 lakh employees, a majority of them based in India.Also Read: Wipro to roll out single-digit hike for 80% employees in December: Report