PricewaterhouseCoopers India has increased the variable pay of its staff by three quarters. Recently, in March, the company also announced a paid two-week one-time special bonus to its 15,000-strong workforce in India. The company is also said to be offering giving vouchers worth Rs 25,000 to 50,000 to all, who have joined the Company on or before 31 March 2021, as per the management level of the employees.
Earlier in 2020, bonuses, promotions, and pay hikes had been deferred for the entire staff in India in preparation for high-level disruptions. Even the senior executives of the Company had taken pay cuts to conserve cash. However, now, with things looking up and recovery of the economic insight in some sectors, the Company is in a good place.
As shared in media, The Chairman, PwC in India, Sanjeev Krishan, said, “We take great pride in being able to achieve sustained outcomes even with our people working from home. Despite the uncertainties caused by the ecosystem, our people with their continued commitment have been true partners in our success and helped us deliver enhanced value to our clients and stakeholders. As an appreciation of their contribution, we are very pleased to be able to reward them better this year with a significant increase in bonus payments including a component of cash vouchers,”.
Earlier in March, companies like TCS, Infosys, Cognizant, and HCL also announced salary hikes and special bonuses as a way to compensate for the salary cut, deferred pay hikes due to the business impact brought by the pandemic.