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HCL Tech grants a generous bonus of Rs 700Cr to employees

HCL Technologies

Source: The Economic Times

HCL Technologies is a Noida-based global Information Technology company that works with clients globally and impact the core to redefine businesses. Recently, the company has announced a generous grant of INR 700 crore bonus to its employees on crossing a major milestone of USD 10 billion in revenue for the Financial Year 2020.

The company says that this is a one-time-only bonus which is worth 10 days of salary and will be distributed to over 1.5 lakh employees all around the world, according to a report by Business Today.

As mentioned in several reports, HCL Technologies says achieving this historic milestone in categories of engineering services, technology, business and software within just twenty years down the line of the company’s IPO is a testament to the consistent and passionate efforts of it hard-working employees. The company also added that during these past years, several deep relationships and many long terms with leading companies and enterprises across the world in several industries have been made which has resulted in a strong network of stakeholders and partners.

According to a report by Business Today, the employees will get this USD 90 million or INR 650 crore special bonus in the month of February 2021 and it even includes payroll taxes in some countries. The report says that this financial impact created by disbursing INR 700 crore shall not be included in the company’s EBIT that is net income, interest and taxes for the Financial Year 2021 as per the guidance provided by the company.

When asked about the conditions of receiving this bonus, HCL Technologies mentioned that all employees that have been working for the past one year or more than that will be eligible to receive this one-time-only special bonus. This amount equals worth 10 days of salary which is a huge amount as a bonus.

Furthermore, the company mentions that its employees at HCL Technologies are the company’s most valuable assets. The statement further says that even during the times of the unrelenting COVID-19 pandemic, every member of the HCL family has shown immense passion and commitment to their work which has ultimately contributed to this growth of the company.

Employees are the company’s biggest and most profound assets which should never be taken for granted and HCL Technologies acknowledges this as a fact which is a great deal for an established global company. However, this business strategy to simply keep its employees happy will benefit the company in terms of loyalty and productivity. The company will be remembered for good by these employees while giving motivation to freshers that have just joined the company and not completed their one year of service.

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