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Hexaware employees receive generous variable pay

By Nagasunder in Business News, posted August 31, 2023

Hexaware Technologies is offering 100 percent variable pay packages to most of its 28,500 employees.

Moreover, top performers will receive a substantial 120 percent.

This move stands out in the IT services industry, which has seen reduced payouts due to weakened global demand.

Vinod Chandran, COO & HR head at Hexaware Technologies, said: “Our determination to go above and beyond in our variable payouts is a testament to our belief that when we support our team, remarkable things happen.”

Chandran said Hexaware has also broken away from industry salary norms.

"While our peers have deferred it, we gave offshore employees a 6% hike and our best performers have got between 14% and 16% hike.

“Freshers who have spent two years with us and have performed well have got a 20% hike.”

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In 2020, Hexaware was delisted from Indian stock exchanges, becoming a private entity under the ownership of Baring PE Asia.

Despite economic uncertainties and hiring freezes in the industry, it remains ambitious, aiming to recruit around 6,000 seasoned professionals this year.

Furthermore, the company's efforts have translated into higher employee retention rates, rising from 68 percent in 2021 to 73 percent in 2022.

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