The attrition rate of leading IT firms in India is recently at an all-time high. In order to retain its in-house talent, HCL Technologies is planning to give Mercedes-Benz cars to its top performers.
According to a report by TOI, the proposal is currently with the board for approval but the company had earlier given out 50 Mercedes Benz cars to top performers in 2013.
So it seems this can also become a reality.
Apparao VV, Chief Human Resources Officer of HCL Technologies, told TOI:
Replacement hiring cost is 15% to 20% higher. Hence, we are actively participating in skilling our full force. If you need a Java developer, you will get them at the same price point, but a cloud professional can't be hired at the same price point.
At a time when everyone else is struggling to get an appraisal, people are talking about this announcement.
This is becoming more and more like 1999-2000?https://t.co/utnDZnvE7L— Amit Paranjape (@aparanjape) July 21, 2021
The current market situation is very fluid, people are changing jobs in couple of months as the job market is at its boom. Few of my clients have promised good amount of money as retention/tenure bonus above the salary.— Aditya Saigaonkar (@adisaigaonkar) July 21, 2021
HCL Technologies had also announced that it will hire 20,000-22,000 freshers this year. This is great news.