News: Cognizant announces senior-level promotions

Strategic HR

Cognizant announces senior-level promotions

IT services companies are doing all it takes to retain talent in a buoyant demand environment. After Infosys and Wipro recently announced promotions and hikes for employees, NASDAQ-listed Cognizant on Wednesday rolled out promotions for senior level employees across the company. The promotions and salary hikes are effective July 2014. The development comes a couple of months after Cognizant gave similar promotions for junior-level employees and weeks after it downgraded its annual guidance to 14%. While Cognizant confirmed the promotions in an e-mail response, no details were available on the number of employees who got promoted. "The average salary hike for offshore associates is around 10%. Those who are exceptional performers and have niche skills that are in high demand will get more than 10%. For onsite associates, it is in the lower single digits," the statement said."

IT services companies are doing all it takes to retain talent in a buoyant demand environment. After Infosys and Wipro recently announced promotions and hikes for employees, NASDAQ-listed Cognizant on Wednesday rolled out promotions for senior level employees across the company. The promotions and salary hikes are effective July 2014. The development comes a couple of months after Cognizant gave similar promotions for junior-level employees and weeks after it downgraded its annual guidance to 14%. While Cognizant confirmed the promotions in an e-mail response, no details were available on the number of employees who got promoted. "The average salary hike for offshore associates is around 10%. Those who are exceptional performers and have niche skills that are in high demand will get more than 10%. For onsite associates, it is in the lower single digits," the statement said."

Read the Economic Times news report here.

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Topics: Strategic HR, #Current, #Corporate

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