Hexaware Technologies, an IT services and solutions firm, introduced a variable payout exceeding 100% for its high-performing employees. This compensation adjustment ranges from 100% for employees meeting performance expectations in the current appraisal cycle to 120% for high achievers who have consistently showcased exceptional performance over a span of two years.
Amid the ongoing economic fluctuations leading to recruitment pauses by many companies, Hexaware is set to onboard around 6,000 professionals within this year.
The company revealed that due to its standing within the market and its prioritisation of its workforce, they have garnered the attention of top-tier talent, contributing to a boost in employee retention from 68% in 2021 to 73% in 2022.
Commenting on company’s growth, 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%+ 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."
"In fact, on the variable payouts for associates with non-KPI variable payouts, our average payout was 103% – which is significantly higher than our peer set. 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.
While the world of work is going through a transition period due to emerging technologies, the company's is putting efforts into drawing top digital talent from across the globe, irrespective of their geographic location or preferred work setup. This involves the incorporation of cutting-edge security measures and the nurturing of an inviting organisational ethos, revealed Hexaware.
During the calendar year 2022, Hexaware achieved a growth of more than 25% in constant currency (CC), sustaining this growth momentum in 2023 as well.