Cognizant Rewards Merit Increase for 1,60,000+ and Promotes 24,000+ Employees
Cognizant, one of the major IT services companies, proclaimed to offer bonuses termed ‘substantially higher than 2019’ and has promoted more than 24,000 employees across levels.
The company explained the purpose of doing so as to mitigate attrition and helps push the company to a quarterly promotion cycle for billable employees at the senior associate level and below during the June quarter of 2021.
Rajesh Nambiar, Indian Chairman and Managing Director, Cognizant, told in a statement, “Based on the professionalism, client-centricity, work ethic and perseverance of our employees worldwide in serving our clients during the pandemic, we are gifting bonuses beyond company performance level and substantially higher than 2019, despite the challenging year 2020.”
“In addition, about 1,60,000 employees will be given a merit increase and more than 24,000 employees across all levels were given promotion,” Nambiar added.
“To reward our employees’ hard work and high performance in a more timely manner, we are shifting to a quarterly promotion cycle for billable Senior Associate employees and below, commencing in the second quarter of the year”, he continued.
He also gave an account of how the company strives to maintain a competitive and appealing employee environment by inspiring each individual to achieve and perform better and will be rewarded for doing so.
He further said that, “we are set to make our employees feel motivated, engaged and empowered to work their best through careers they find meaningful”.