Satyam to offer pay hikes, bonus

Mahindra Satyam is expected to offer pay hikes and bonus from January. The Hyderabad-based IT services provider, which is in the process of reinstating its accounts, had concluded its annual appraisals in December.

Staff in the S and T bands got pay hikes whereas employees of other higher levels like BI and I were offered associate stock option plans and promotions, according to an official who did not wish to be identified.

The increments ranged between 5% and 20% based on performance for the S band of employees where as T band employees were given 6-7% across-the-board hike.
The S band employees belong to the junior level while the T band people has over two years’ experience.

This apart, the company is said to have offered bonus of 20% of salary to staff across all levels of around 20%. The bonus will be paid at the end of this month.

“We strongly feel that hikes should help bridge some of the concerns and expectations and we have launched quite a few non-monetary and career development initiatives to enrich skills and competencies of our associates. The reinstatement of performance related variable pay along with the salary corrections across levels, has given the necessary confidence to our associates,” said Mukund Menon, head of business HR relations worldwide, Mahindra Satyam.

Employees whom ET spoke to across the bands said it’s getting challenging for the company since there were many exits which was affecting existing business.

However, the company, on its part, is engaged in hiring fresh graduates and also calling back employees from the virtual pool, as attrition seems to be a concern.