|IT firms to check attrition, think beyond salary hikes|
Now when the global economy is improving, most of the Indian IT firms are offshoring more work to save costs and at the same time, the IT firms are looking for employees experienced with three to seven years, who can deliver quality codes to their customers, reports Poornima Mohandas and Raghu Krishnan of the Mint.
"85 to 90 percent of IT-ITeS companies now are looking at off cycle compensation related interventions such as retention bonuses, off cycle salary increases and equity based incentives to control this situation," said Sandeep Chaudhary, performance rewards consulting practice, South and West Asia, Hewitt Associates.
The IT biggies are bringing in a new trend in the industry. Infosys has raised its hiring plans to 36,000 from 30,000 for the year 2011 and at the same time, TCS plans to hire 40,000 people.