HCL plans to reward top performers with Mercedes-Benz

Top performers at HCL Technologies might drive home a Mercedes-Benz. The proposal is with the company's board for approval, HCL CHRO Apparao VV said. 

The IT services company had handed out 50 Mercedes-Benz to top performers in 2013, however, it later discontinued the practice.

"Replacement hiring cost is 15-20% higher. Hence, we are actively participating in skilling our workforce. 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," Apparao told The Times of India.

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HCL also plans to hire 22,000 freshers in the current financial year, as against 15,600 recruited last year. Apparao added that the company has a "good retention package with a three-year cash incentive scheme which is 50-100% of the CTC every year." 

He further stated that at least 10% of the circular talent in the leadership teams have benefited from it.

HCL's  IT services attrition on the basis of LTM (last 12 months) jumped by 11.8% in the June quarter, compared to 9.9% in the corresponding period last year. 

Apparao stated that Indian IT companies are also dealing with applicants backing out of job offers. "Reneging a job offer is very high today as prospective job-seekers are finding multiple job opportunities," he noted.

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