HCL Technologies has a $ 7 billion organization and nearly 1.2 lakh employees. HCL Technologies has a net income of $1 billion. It serves in 31 countries. HCL has a high customer satisfaction score of 472 according to Forrester. HCL Technologies Ltd. has a specialization in Information Technology and Engineering.
HCL has grown Revenues and Margins while creating Customer delight. Three simple values are the key.
Value Centricity
Trust, Transparency & Flexibility
Personnel First
The Employee-First and Customer-Second policy has inverted Organization Pyramid, created atmospheres of innovation through employee feelings and actively creating solutions and new idea generation for Clients. HCL employee generated over 1.6 billion USD in revenue by generating new ideas. MAD Jam generated 2743 ideas.
HCL’s Compensation Policy
HCL Technologies Ltd. is committed to providing their employees with the most competitive benefits, and offers a compensation package that is market-relevant. The company offers employees professional development opportunities and rewards individual performance. The Compensation also includes comprehensive and socially-economical incentives. HCL Salary has a strategy that is highly competitive in comparison to other companies’ strategies.
HCL Compensation Based on Below Strategy
Honesty and Openness
Compete with your competitors.
Adhering to the law.
Pay Equity
Employee Benefits for Long Continuity
Personnel First
Job Evaluation Score
HCL Technologies Bands
HCL offers several different brands. Each band is positioned differently and has different salaries, benefits, and other monetary advantages.
Support Bands
A0 – Newbie
Executive
Senior Executive E1,2
Associate Manager
E2,2 is a Deputy Manager
Supervisor
Senior Manager E3,2
Group Leader
Director E4,2
The AVP (Assistant Vice President) position is a level five role.
E6 – Vice President
Technical bands and sub-bands
E1,1 MTS Software Consultant
E1,2 Senior MTS Senior software engineer Senior consultant
E2.1 – Project Lead Lead Consultant
E2,2 – Sr Project Lead Sr Lead Consultant
E3.1 – Technical Manager Project Manager
E3,2 Sr Project Manager Sr Tech Manager Sr Architect
Group Supervisor
Director E4,2
The AVP is a five point one.
E-Six – Vice President
Human Resource Management: The Need for a Good and Right Compensation Policy
It is vital to retain and hire the best talent in order to remain competitive in the IT Industry. HCL Technologies is a company that follows the Employee First philosophy. It has a compensation plan which is highly competitive, friendly and attractive. This helps it to retain and attract the best and most qualified talent.
Compensation is a vital part of HR. It motivates employees to work harder and achieve organizational effectiveness.
Legal Considerations
It’s a driving force for motivation
lImproves efficiency
Retention of good employees
Avoid Renege or you will lose your customers to the competition.
Job Satisfaction
Cost of Living
lLabor Market
lLabour Union
Job Evaluation
Financial Position of Organization
Pay for performance
The pay for performance is based purely on the employee’s performance, and not on their salary band. The employee’s performance determines whether the maximum or the minimum performance pay is payable.
This model is not easy to implement in most organizations. There are two main ways to evaluate employee performance.
In terms of quality –
Based on sales, production, customer satisfaction, employee engagement and retention.
In terms of numbers
Related to Operation side, mainly production,accounting and administrative.
Paying for Performance is the Best Practice
Identifying the triggers for top performers
Employers should have clear-cut objectives.
Pay for Performance is a popular incentive in the Industry.
OMerit pay
Bonuses based on a lump sum
OIndividual employee spot award
Individual Employee Incentive Plans
