The Indian IT industry has only seemed to flourish during the coronavirus pandemic, and employees now seem to be reaping the rewards.
HCL has announced that it will celebrate hitting the $10 billion revenue in 2020 by giving its employees worldwide a one-time special bonus worth over Rs. 700 crore. All employees with one year of service or greater will receive a bonus, the equivalent of 10 days’ salary. The special bonus will be paid to employees in February 2021.
“Our employees are our most valuable asset. Despite an unrelenting pandemic, each and every member of our HCL family has demonstrated immense commitment and passion, contributing to the growth of the organization. The $10 billion revenue milestone is a testament of our remarkable resilience as an organization and the entrepreneurial spirit of our 159,000+ employees. With this gesture, we want to sincerely express our gratitude to our employees and their families for all their support,” Apparao VV, Chief HR Officer, HCL Technologies said.
2020 was a hard year for many sectors, but the Indian IT industry proved to be particularly resilient, and even seemed to thrive during the lockdown. IT companies quickly migrated to a work-from-home paradigm, and some even want to continue it going forward — TCS has said that it expects that 75% of its workforce will be permanently working from home by 2025.
TCS, for its part, has had a pretty good year as well. Just last month, the company had become the most valuable IT company in the world with a market cap of $169 billion, nudging ahead of Accenture, which had a market cap of $168 billion. Apart from TCS, there are three Indian companies in the list of the 10 most valuable IT companies in the world. Infosys is at number 5 with a market cap of $77 billion, HCL is number 7 with a market cap of $35 billion, and Wipro is right behind at number 8 with a market cap of $34 billion.