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HCL to reward top performers with Mercedes Benz

The proposal is with the board for approval adding that HCL had given out 50 Mercedes Benz cars to top performers in 2013 but did not continue the practice.

July 22, 2021 / 09:29 AM IST
Not just HCL Technologies, other top Indian IT firms have stepped up fresher hiring for FY22 by an average 30 percent to a combined 1.1 lakh on the back of growing demand as businesses goes digital and increased attrition.

Not just HCL Technologies, other top Indian IT firms have stepped up fresher hiring for FY22 by an average 30 percent to a combined 1.1 lakh on the back of growing demand as businesses goes digital and increased attrition.

HCL Technologies is planning to reward its top performers with a brand new Mercedes Benz in a bid to reduce the attrition rate.

HCL CHRO Apparao VV has confirmed with The Times of India that, currently, the proposal is with the board for approval adding that the company gave out 50 Mercedes Benz cars to top performers in 2013 but did not continue the practice.

HCL’s IT services attrition has reportedly risen by 11.8 percent in the last 12 months in the June quarter as compared to 9.9 percent earlier. Apparao told the publication that the candidates are backing out as “prospective job seekers are finding multiple job offers.”

"Replacement hiring cost is 15% to 20% higher. Hence, we are actively participating in skilling our full force. 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 added.