Hexaware Technologies surpasses industry standard, announces over 100% variable pay

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Global IT services provider Hexaware Technologies announced a variable payout of over 100 percent for employees on August 29.

Ranging from 100 percent for those meeting expectations to 120 percent for high performers with two years of exceptional results, this investment underscores the company's commitment to value the workforce, Hexaware said in a statement.

"Hexaware recognizes that a happy and engaged workforce leads to enhanced productivity, creativity, and collaboration." the statement read.

According to a recent Brand Finance report, Hexaware has emerged as one of the rapidly growing brands in the IT services sector in 2023. This recognition, pushing the company's rating to AA, can be attributed to a significant 66 percent surge in brand valuation over three years.

Also Read: Hexaware Technologies to hire around 6,000 people despite volatile market

Despite economic volatility, Hexaware plans to hire 6,000 professionals this year. Employee retention has risen from 68 percent in 2021 to 73 percent in 2022. The company's inclusive work environment extends to its digital infrastructure.

Hexaware has set its sights on attracting premier global digital talent, unfazed by geographical constraints or preferred work setups. Bolstered by robust security protocols and a congenial organisational culture, the company is determined to realise this ambition. With a growth rate of over 25 percent in constant currency (CC) during the 2022 calendar year, Hexaware has firmly established itself.

Hexaware's growth was acknowledged with the Gold Stevie Award for 'Fastest Growing Tech Company of the Year' in the 2023 American Business Awards. It was also recognised by the Economic Times as one of the Best Organizations for Women in 2023, underlining its commitment to diversity.

Hexaware’s Chief Operating Officer, Vinod Chandran said, "We know it’s our people who make the difference. They bring passion, creativity, and drive to our daily work. Today, we honour 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."

"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," he added.