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HCL Tech Work from Office: After TCS, HCL tech has now mandated a work-from-office for its employees at least 3 days a week. Check here for more details.

HCL Work from Office: HCL Tech follows TCS, Wipro; mandates work-from-office for 3 days a week

This change marks a departure from the prevalent work-from-home arrangements that became widespread during the COVID-19 pandemic. CEO C Vijayakumar emphasized the importance of in-person collaboration and interaction.

HCL Tech follows TCS, Wipro; mandates work-from-office for 3 days a week

<h2>This change marks a departure from the prevalent work-from-home arrangements that became widespread during the COVID-19 pandemic. CEO C Vijayakumar emphasized the importance of in-person collaboration and interaction.</h2>

HCL Tech Work from Office: After TCS, now HCL tech has mandated a return to office for its employees at least three days a week. This shift marks a departure from the widespread work-from-home arrangements that became prevalent during the COVID-19 pandemic.
In an interview with PTI, C Vijayakumar, the CEO and Managing Director of HCL Technologies stressed the importance of employees being physically present in the office for a substantial portion of their workweek. While acknowledging the need for flexibility, he emphasized the value of in-person collaboration and interaction, aligning HCL Tech with the broader trend in the IT industry towards office-based work models.
Vijayakumar also provided reassurance regarding the safety of HCL Tech's employees in Israel, where the company has a presence primarily for software development purposes. Despite the ongoing conflict in the region, he confirmed that all employees in Israel are safe, with the company closely monitoring the situation.
<h3>IT companies that mandated work from the office</h3>
This move by HCL Tech follows a similar directive from TCS, which instructed its vast workforce to return to the office, effectively bringing an end to the extensive 'work from home' culture that emerged during the pandemic. Approximately 70% of TCS employees have already transitioned back to the office, indicating a successful adaptation to the new approach.
Wipro has also mandated that all employees must be present at their assigned office location for at least three days each week starting from November 15, 2023. Meanwhile, Infosys has ended its work-from-home policy and has come up with a 3-phase hybrid plan&nbsp;
These decisions by industry giants like HCL Tech and TCS reflect a broader shift within the IT industry, where companies are reevaluating the balance between remote work and in-office presence.
As businesses adapt to the evolving post-pandemic landscape, the way work is structured and conducted is also transforming, emphasizing the significance of in-person collaboration in the modern workplace. Also Watch: <a href="https://www.editorji.com/business-news/tcs-sees-70-workforce-return-to-office-emphasizing-in-person-collaboration-for-new-hires-1697082091822">TCS sees 70% workforce return to office, emphasizing in-person collaboration for new hires</a>

CFO Prateek Aggarwal has said that wage increment for senior staff would be defered and the variable pay will be determined in line with company policies

HCL Tech to defer hikes for senior employees as Q1 FY 2023-24 results fall weak

CFO Prateek Aggarwal has said that wage increment for senior staff would be defered and the variable pay will be determined in line with company policies

Indian IT services company HCL Tech is planning to defer hikes for senior employees as the Q1 results for FY24 was lower than the expectations. The revenue fell 1.2% to Rs 26,296 crore, as compared with the forecast of Rs 26,884 crore.
In an interview to Business Today, HCL's CFO Prateek Aggarwal has said that the pipeline of the company is strong despite the Q1 numbers being weak.&nbsp;
&ldquo;While the Q1 numbers have been weak, the good news is that our pipeline is at its highest ever. We have seen sequential growth of almost 18% and a year-on-year growth of 26%. Additionally, some deals in the pipeline are at an advanced stage&rdquo;, Prateek Aggarwal told Business Today.
Also Read: <a href="https://www.editorji.com/business-news/infosys-withholds-pay-hikes-for-employees-below-senior-management-level-report-1689143481083">Infosys withholds pay hikes for employees below senior management level: Report</a>
The CFO also mentioned that the company is taking active measures to compensate the revenue loss. He mentioned that salary hikes would be defered for senior staff members and the variable pay for others would also be cut.
&ldquo;Based on the actions we have announced, we are confident in returning to the 18%-19% range. The actions include wage increment deferrals for senior staff and a decision on junior staff increments to be made in October. Variable pay will be determined in line with company policies and results&rdquo;, Prateek Aggarwal told Business Today.
Meanwhile, he has expressed confidence that the strong pipeline would reflect in numbers in the second half of the current fiscal.

HCL&nbsp;Tech facing a bonus bombshell as news surfaced that India's fourth largest tech company was demanding bonus back from employees that were quitting.&nbsp;In a policy that has been in place since April and emailed as a 'reminder' in November&nbsp;that employees who were exiting the firm&nbsp; between September 2021 and March 2022, will be liable to pay back the bonus in&nbsp;full.Disgruntled employees are looking at a legal case against the tech firm.&nbsp;Harpreet Saluja, President, Nascent Information Technology Employees Senate (NITES), a union for IT employees, said &ldquo;We are in process of filing a court case against HCL Technologies against illegal bonus recovery policy and for refund of the bonus amount deducted to all employee."Saluja&nbsp;went on record to say that an official complaint has already been sent to the Labour Ministry.&nbsp;HCL&nbsp;Tech has however stated that the clause has been removed from the HR policy after the employees lodged their protest against the same.&nbsp;This however is not the first HR nightmare that HCL&nbsp;has faced. In December an American think tank has accused IT services major&nbsp;of wage theft by underpaying thousands of skilled migrants on H-1B visas.Read/Watch Also: Why HCL&nbsp;Tech is being accused of wage theft

Why did HCL Tech ask for the bonus back? Arm twisting policy to retain talent changed

In a policy that has been in place since April and emailed as a 'reminder' in November that employees who were exiting the firm  between September 2021 and March 2022, will be liable to pay back the bonus in full.

HCL faces legal threats over 'bonus bombshell' 

In the latest policy document the clause about the recovery of the bonus for employees who are exiting the company between was absent.

HCL&nbsp;Tech facing a bonus bombshell as news surfaced that India's fourth largest tech company was demanding bonus back from employees that were quitting.&nbsp; In a policy that has been in place since April and emailed as a 'reminder' in November&nbsp;that employees who were exiting the firm&nbsp; between September 2021 and March 2022, will be liable to pay back the bonus in&nbsp;full. Disgruntled employees are looking at a legal case against the tech firm.&nbsp;Harpreet Saluja, President, Nascent Information Technology Employees Senate (NITES), a union for IT employees, said &ldquo;We are in process of filing a court case against HCL Technologies against illegal bonus recovery policy and for refund of the bonus amount deducted to all employee." Saluja&nbsp;went on record to say that an official complaint has already been sent to the Labour Ministry.&nbsp; HCL&nbsp;Tech has however stated that the clause has been removed from the HR policy after the employees lodged their protest against the same.&nbsp; This however is not the first HR nightmare that HCL&nbsp;has faced. In December an American think tank has accused IT services major&nbsp;of wage theft by underpaying thousands of skilled migrants on H-1B visas. Read/Watch Also: <a href="https://www.editorji.com/business-news/hcl-tech-facing-allegations-of-underpaying-h-1b-visa-workers-vs-us-employees-1639363130985">Why HCL&nbsp;Tech is being accused of wage theft</a>

Shiv Nadar founded HCL Tech reportedly underpaid Indian employees in the US compared to their American counterparts. ET reports that as per internal documents the IT services firm paid H-1B visa workers lower wages versus the salaries of the US employees,   Economic Policy Institute (EPI) said in a report, that HCL Tech underpaid H-1B visa holders by up to $95 million in the last few years. This is in violation of the H-1B program which requires that immigrant visa holders be paid at par with local US workers, in order to ensure that American jobs are not taken away by visa holders on lower wages.  Last year, HCL was ranked eighth in total H-1B approvals, with 1,405 new visas and 2,801 visa renewals. But HCL Tech is not the lone offender says EPI as it states that Oracle experts with H-1B visas are paid $55,000 less than US workers. 

HCL Tech facing allegations of underpaying H-1B visa workers vs US employees

Economic Policy Institute (EPI) said in a report, that HCL Tech underpaid H-1B visa holders by up to $95 million in the last few years. 

HCL Tech discrimination allegation, India workers underpaid vs US employees

<ul>
<li>HCL Tech reportedly underpaid Indian employees in the US vs American counterparts</li>
<li>HCL Tech&nbsp;underpaid H-1B visa holders by up to $95 million&nbsp;</li>
<li>Lower wages for&nbsp;H-1B visa holders is a violation of visa norms</li>
<li>HCL&nbsp;Tech H1-B Visas in 2020:&nbsp;1,405 new and 2,801&nbsp; renewals</li>
<li>HCL&nbsp;not a lone offender, Oracle reportedly underpaid H1-B employees too</li>
</ul>

Reports: Company paid H-1B visa workers lower wages compared to similarly employed US workers,

Shiv Nadar founded HCL Tech reportedly underpaid Indian employees in the US compared to their American counterparts. ET reports&nbsp;that as per internal documents the&nbsp;IT services firm paid H-1B visa workers lower wages versus the salaries of the US employees.
Also watch |&nbsp;<a title="Medplus Health IPO opens today; GMP to financials all you need to know make a healthy choice" href="https://www.editorji.com/business-news/markets/medplus-health-ipo-opens-today-gmp-to-financials-all-you-need-to-know-make-a-healthy-choice-1639363353504">Medplus Health IPO opens today; GMP to financials all you need to know make a healthy choice</a> &nbsp; Economic Policy Institute (EPI) said in a report, that HCL Tech&nbsp;underpaid H-1B visa holders by up to $95 million in the last few years. This is in violation of the H-1B program which requires that immigrant visa holders be paid at par with local US workers, in order to ensure that American jobs are not taken away by visa holders on lower wages.&nbsp; &nbsp; Last year, HCL was ranked eighth in total H-1B approvals, with 1,405 new visas and 2,801 visa renewals.&nbsp; But HCL Tech is not the lone offender says EPI as it states that Oracle experts with H-1B visas are paid $55,000 less than US workers.&nbsp;

Everyone is gunning to the be 'employee of the month' at HCL&nbsp;Tech as the Noida-headquartered company is planning to give Mercedes-Benz cars to top performers.&nbsp;As per reports, HCL&nbsp;Tech in an attempt to reduce the high attrition rate is adding incentive to stay and work harder. Indian tech firms are facing record high attrition&nbsp;Analysts anticipate a 22-23% attrition rate in 2021, which works out to 1 million resignations in the tech sector.&nbsp;ToI&nbsp;quoting the chief HR officer of the tech company stated that the proposal will need board approval.HCL&nbsp;Tech had awarded Mercedes-Benz to top performers in 2013 but had discontinued the practice after 50 performers were rewarded.&nbsp;

HCL Tech in gear to motivate: Perform well, drive out in a Mercedes Benz

Want to win a Mercedes-Benz? First get a job at HCL&nbsp;Tech

<ul>
<li>HCL&nbsp;Tech plans to reward top performers with Mercedes-Benz</li>
<li>HCL&nbsp;Tech looking to reduce high attrition rates faced sector&nbsp;</li>
<li>Analysts estimate 1 million resignations in 2021 in the tech sector</li>
<li>HCL&nbsp;Tech HR Chief: Mercedes award plan will need board approval&nbsp;</li>
<li>HCL&nbsp;Tech had awarded 50 Mercedes in 2013 to top performers as well</li>
</ul>

<div class="sab-head-tranlate-sec">
<h2>The tech giant also&nbsp;also plans to hire 22,000 freshers in the current year as attrition hits all-time high.&nbsp;</h2>
</div>

Everyone is gunning to the be 'employee of the month' at HCL&nbsp;Tech as the Noida-headquartered company is planning to give Mercedes-Benz cars to top performers.&nbsp; As per reports, HCL&nbsp;Tech in an attempt to reduce the high attrition rate is adding incentive to stay and work harder. Indian tech firms are facing record high attrition&nbsp;Analysts anticipate a 22-23% attrition rate in 2021, which works out to 1 million resignations in the tech sector.&nbsp;ToI&nbsp;quoting the chief HR officer of the tech company stated that the proposal will need board approval. Read/Watch Also: <a href="https://www.edtr.ai/9xa6">Job Alert for tech freshers</a> HCL&nbsp;Tech had awarded Mercedes-Benz to top performers in 2013 but had discontinued the practice after 50 performers were rewarded.&nbsp;

Wage hikes, one time bonus coupled with muted revenue led to a 25.6% drop in profits for Shiv Nadar&nbsp;founded HCL&nbsp;Technologies.&nbsp;Consolidated profit at Rs&nbsp;2,962 cr&nbsp;for the quarter ended March 2021 missed analysts estimates and so did dollar revenue that grew merely 3% in the Jan-March quarter.&nbsp;HCL&nbsp;Tech however remains optimistic about the outlook having won 19 large deals in the quarter gone by that should translate to better growth in FY'22.

HCL Tech Q4 misses the mark, profit falls 26% 

Wage hikes, one time bonus coupled with muted revenue led to a drop in profits for HCL&nbsp;Technologies. But&nbsp;19 large deals in the quarter are keeping brokerages enthused

<ul>
<li>HCL&nbsp;Tech Q4 misses street estimates, profit down nearly 26%</li>
<li>One time bonus, wage hikes hit profit growth for HCL&nbsp;Tech</li>
<li>HCL&nbsp;Tech dollar revenue growth at 3% misses estimates</li>
<li>HCL&nbsp;Tech booked 19 large deals in Q4</li>
</ul>

Wage hikes, one time bonus coupled with muted revenue led to a 25.6% drop in profits for Shiv Nadar&nbsp;founded HCL&nbsp;Technologies.&nbsp; Consolidated profit at Rs&nbsp;2,962 cr&nbsp;for the quarter ended March 2021 missed analysts estimates and so did dollar revenue that grew merely 3% in the Jan-March quarter.&nbsp; HCL&nbsp;Tech however remains optimistic about the outlook having won 19 large deals in the quarter gone by that should translate to better growth in FY'22.

TCS and Infosys will kickstart earnings for Dalal street this week, with both stocks perched at 52 week highs, this is what you can expect from the boardroom-:

Brokerages expect&nbsp;to see revenue growth between 1.4-3.6% (QoQ) in Q4 driven by strong demand environment.
Large wage hikes across the board by companies in March will keep margins flat
TCS will likely to lead growth with steady margins, Infosys and HCL Tech are likely to see sharp margin contraction
Demand outlook looks firm as&nbsp;deal activity stays close to all-time high for a second straight quarter
ISG index that tracks global tech deals &nbsp;now expects 5% YoY growth in average revenue per contract&nbsp;in 2021 vs 3% earlier and also indicated 4-7 mega deals, that are still in works.

Alert: TCS reports Earnings on April 12, Infosys April 14

Tech to kickstart earnings on Dalal Street, what to expect?

As tech stocks sit perched up on 52 week highs, investors look to connect with strong earnings growth. TCS&nbsp;kickstarts the earnings season from Monday, here is what you can expect.&nbsp;

<ul>
<li>TCS, Infosys, Wipro&nbsp;to report earnings this week&nbsp;</li>
<li>IT Q4 Preview: Revenue growth between 2-4% expected&nbsp;</li>
<li>Large wage hikes likely to keep margins flat for tech companies</li>
<li>TCS&nbsp;likely to lead revenue growth amongst peers&nbsp;</li>
<li>IT Q4 Preview: Deal activity remains close to all time high</li>
<li>IT Q4 Preview: Contract values seen rising further in 2021 , mega deals in works&nbsp;</li>
<li>TCS reports Earnings on April 12, Infosys April 14</li>
</ul>

TCS and Infosys will kickstart earnings for Dalal street this week, with both stocks perched at 52 week highs, this is what you can expect from the boardroom-:
<ul>
<li>Brokerages expect&nbsp;to see revenue growth between 1.4-3.6% (QoQ) in Q4 driven by strong demand environment.</li>
<li>Large wage hikes across the board by companies in March will keep margins flat</li>
<li>TCS will likely to lead growth with steady margins, Infosys and HCL Tech are likely to see sharp margin contraction</li>
<li>Demand outlook looks firm as&nbsp;deal activity stays close to all-time high for a second straight quarter</li>
<li>ISG index that tracks global tech deals &nbsp;now expects 5% YoY growth in average revenue per contract&nbsp;in 2021 vs 3% earlier and also indicated 4-7 mega deals, that are still in works.</li>
</ul>
Alert: TCS reports Earnings on April 12, Infosys April 14

Markets flat: Sensex up 33 points, Nifty trades above 11,500

Indian equities opened flat on Monday&nbsp;following mixed Asian peers.
At 9:25 am, the Sensex was 33 points in the green at 38,878 and the Nifty was trading&nbsp;at 11,511, up 0.05%.
HCL Tech, DrReddy, TCS, Zee and Infosys&nbsp;were the top market movers. Whereas Bajaj&nbsp;Auto, Tata&nbsp;Motors, Infratel, Powergrid and GAIL were the top index losers.

38,878.95 +33.13 +0.09%
11,511.15&nbsp; 6.20 (0.05%)

Indian equities opened flat on Monday&nbsp;following mixed Asian peers.
At 9:25 am, the Sensex was 33 points in the green at 38,878 and the Nifty was trading&nbsp;at 11,511, up 0.05%.
HCL Tech, DrReddy, TCS, Zee and Infosys&nbsp;were the top market movers. Whereas Bajaj&nbsp;Auto, Tata&nbsp;Motors, Infratel, Powergrid and GAIL were the top index losers.

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