Mid-sized IT firm HTC Global Services, which has a majority of its workforce in India, has started capitalising on its smaller size to attract quality talent from its bigger rivals.
The Michigan-based company, which has centres in Chennai and Hyderabad, has introduced a ‘project bonus component’ in their employees’ salary package or CTC, a move which has improved retention tremendously, according to Shyam Sunder Valliur Nadu, Vice-President, Talent Capital Management.
This is something the company can do due to the flexible size of its employee base.
In addition to this, the IT outsourcing firm has increased allotment of preferred projects and reduced retrenchment, moves aimed at increasing the job satisfaction of its employees. For example, it tries to make sure its younger employees work on newer technology projects, such as mobility-focussed ones.
“Normally in most IT firms the project bonus is given only if is successful and makes the company some profit. The employee has no guarantee or no idea if he is getting a bonus in most cases. Here you [the employee] know for sure that some portion is coming back to them. The recognition of their efforts happens right through the whole process,” Mr. Nadu said, in an interaction with The Hindu on Friday.
The results of HTC Global Service’s employee-friendly strategy have started showing. The company has been successful in attracting mid-to-senior level executives from several bigger companies. “Tier-1 IT companies have become a major source of recruiting for us. Last year alone, we were able to scoop up over 100 mid-to-senior level hires from these companies. This year, it is already over 60. Of course, we can only do these as long as our own numbers are small,” he added.