Cognizant, the IT services major, has announced that it is offering “substantially higher than 2019” bonuses and has also promoted over 24,000 employees across various levels.
“In recognition of the professionalism, client-centricity, work ethic and perseverance of our employees globally in serving our clients during this protracted pandemic, we are rewarding bonuses above the level of company performance and substantially higher than 2019, despite 2020 being an extraordinarily challenging year,” Chairman and Managing Director of Cognizant India Rajesh Nambiar stated.
He added, “The company is also offering about 1,60,000 employees with merit increases globally, and has promoted more than 24,000 employees across every level.”
He said that in order to reward the employees in a more timely manner for their hard work and high performance, the company is moving to a quarterly promotion cycle for billable employees at the Senior Associate level and below, starting in Q2 2021.
Nambiar also mentioned, “the company continues to remain heavily focused on maintaining a competitive and appealing employee environment, where every individual is inspired to achieve, driven to perform, and rewarded for their contributions.”
With over two lakh of its 2.9 lakh employees based in India, Cognizant is a professional services company that claims to transform clients’ business, operating, and technology models for the digital era. Its industry-based, consultative approach helps clients envision, build, and run innovative and efficient businesses. Headquartered in the U.S., Cognizant is ranked 194 on the Fortune 500.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.