Capgemini pay hike: Capgemini India raises wages and provides subsidies | India Business News
He is providing up to 10,000 rupees as a cash subsidy to those employees who are stranded without paying guest accommodation. You are holding your employees at the bank (those without billable projects) and paying their wages without putting a timeline around. These were decisions made at their first virtual leadership meeting in mid-March.
Many companies grant a grace period of no more than 60 days for those at the bank to find a billable project, and are asked to go if they don’t. IT companies, on average, have 6 to 8% of their total workforce in the bank.
Capgemini India CEO Ashwin Yardi said that regardless of client leave periods and work time, employees will receive their wages. “This is a black swan event and right now it is not a timeline, but how our business will evolve. And we have a clear vision of what our economic model will look like and we see no reason to discontinue this approach.” , He said.
The company has extended its shift assignment to employees who work from home. Today 95% of its workforce has been able to work from home compared to 15-20% before the aftermath of Covid-19. Promotions scheduled for April will take effect on July 1 and will be announced in June. The company has made variable payments to all eligible employees along with the March payroll.
When asked if the leadership team is contemplating a pay cut, Yardi said: “All employees in grades A and B (84,000 employees) have received their increases and others will get increases in line with our plan. There is no discussion within Capgemini India’s leadership for a pay cut, “said Yardi.
Yardi said one of the key things is to ensure that employees have the confidence of leadership. “And it’s not just about talking about it, but about showing it. In these difficult times, people will look at us to see what actions we are taking to build confidence. We will have some cost containment measures, but there are many other levers for that.” he added.
Capgemini India has also established a charitable fund of € 25m (Rs 200m), the proceeds of which will be used for medical emergencies for any employees who need it beyond their health insurance or for their families.