Next year on, HCL employees to get early appraisals

Re-aligning itself with rest of the industry, next year onwards, HCL technologies will be shifting its financial year from July-June to April-March.

The appraisal cycle will also follow the new financial year bracket.

Anant Gupta, CEO of HCL Technologies told ET, “Ideally yes, that's what we should be doing. The appraisal cycle in the current year will maintain status quo. This year it will happen in July because it is just too much to shift the entire organisational planning."

Gupta said from a books perspective the fiscal year has moved, and this cycle the wage hikes etc will come in when HCL get into the next quarter announcements.

"The effective date for high performers is July 1, and the people who are at the bottom of the performance pack get it a quarter later which is October," Prithvi Shergill, HR head HCL, told ET.

It is appraisal month and IT companies will be doling out increments based on the performances of the employees. Many of them have ditched the bell-curve method.

TCS is likely to give a rise between 8% and 12% in fiscal 2017, whereas Infosys will stick to 6-12%.

However, top performers at Infosys can expect 20-25% hike.

TCS also said it would pay out 100% of its employees' variable pay.

"They have done what we have been doing for some time now, which is differentiation for high performers. It is interesting to see headlines around that because that's the right approach for progressive organisations,” Shergill told ET.

HCL has reported a 5.5% jump in net profit at $285 million which came on back of a 6.5% increase in revenues at $1.6 billion.

(Image: Thinkstock)
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