IT companies to introduce new incentive policy for employees
In the competitive IT world, companies are starting to embrace a outcome-based approach to review of managerial performance. The shift the review process will help determine how the manager’s accounts have performed rather than the business verticals.
The most important aim of an IT company is to engage in forming a deep relationship with their clients, leading to renew engagement with them. “In a tough economic environment, they are banking on repeat business to drive revenues. Hence, IT companies are focused on services that deliver value,” said GC Jayaprakash, Asia Pacific technology leader in executive search firm Stanton Chase International.
According to an article on ToI, Wipro is one such company which has started embracing this new incentive structure. By reviewing the customer account performance, a manager will be evaluated on the basis of four parameters related to the customer accounts being handled by the manager, the topline, bottomline, customer satisfaction and employee satisfaction. However, the incentive policy will apply to mid-managerial level employee’s whose payout will range from 20 percent to 30 percent of the overall compensation depending on seniority. Wipro has also introduced a premium on proprietary solutions. Awards have been institued for employees who file patents and those who are awarded patents ranging from $500 to $2,000 depending on the constribution of each employee.
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