Indian IT major HCLTech has recently changed its HR policy related to employee compensation, which has led to reduction in salaries of some employees, Business Today has learned from sources.

The Noida-headquartered IT company has changed its policy related to Engagement Performance Bonus. Engagement Performance Bonus is part of the variable pay of the employees. As per the previous version of this policy, employees were paid EPB on a monthly basis. Under the new policy, EPB would only be paid on a quarterly basis. Moreover, employees on the bench would not be eligible to receive EPB, which would in turn reduce their monthly salary

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This information was communicated to employees via email, which were accessed by Business Today. The email read, “Employees will be paid EPB basis the Quarterly Manager Feedback in My Performance effective 1st April,2023. Key performance parameters, targets will be defined. At the end of every quarter, score-based performance review will be triggered. Employees on bench will not be eligible for EPB payout for the period they are on bench.”

The new policy also stated that employees would be ineligible to receive EPB if they quit mid- quarter.

“Achievement is computed on a quarterly basis, if the employee resigns during the quarter, no EPB amount will be paid for that quarter,” stated the email sent to employees.

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HCLTech confirmed this development. A HCLTech spokesperson told Business Today: “At HCLTech, we have always offered an Engagement “Performance” Bonus (EPB) as part of our total compensation package up to the E3 band. The EPB is typically 3-4 percent of total compensation, and the average payout is approximately 80 percent. Our employment contract identifies EPB as performance-linked variable pay, and this is governed by company policy. To support employees during the pandemic, the company made a policy exception and paid 100% EPB irrespective of performance. Post-pandemic, the company is reverting to the original policy. This has been communicated to our employees.”

This development was not well received by employees. President of the employee union Nascent Information Technology Employees Senate (NITES), Harpreet Singh Saluja, told Business Today that they would be filing a complaint against HCLTech in the Labour Ministry.

Saluja said: “NITES is in the process of filing a complaint with the Labour Ministry against HCLTech regarding their changes in the EPB policy, urging them to take appropriate action to safeguard the interests of IT employees. We believe it is essential to hold companies accountable for their actions and ensure that the rights and well-being of employees are protected.”

HCLTech reported 11 per cent rise in net profit at Rs 3,983 crore in Q4FY23. The company clocked 17.70 per cent YoY rise in net sales at Rs 26,060 crore for the quarter.

Dollar revenue of the IT major came in at $3,235 million, down 0.3 per cent sequentially. Revenue in constant currency (CC) terms de-grew 1.2 per cent QoQ . Ebit margin for the quarter stood at 18.1 per cent as against 19.6 per cent in December and 17.9 per cent in the year-ago quarter. Total contract value (new deal wins) for the quarter fell 8 per cent YoY to $2,074 million.

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The 8^th Edition of GovConnect National Digital Transformation Conclave was held in Guwahati on 10th December 2022. Senior policymakers, government functionaries and industry leaders have showcased active enthusiasm at the event to discuss spinning the digital revolution in India. Quixy (VividMinds Technologies Pvt. Ltd), a leading No-Code Workflow Automation and Enterprise Application Development platform, introduced the power of no-code technology at the event at the Digital Transformation Conclave. No-code technology realizes the idea of enabling people in building software without having to write code, or without even knowing how to code.

At the event, Quixy was bestowed with the Digital Transformation Platform of the Year Award. Quixy platform was developed with this vision to digitize every public or private enterprise globally through the democratization of software development. Quixy asserts that everyone should be able to build custom IT applications for their unique requirements without having to know how to code.

Mr Gautam Nimmagadda, Founder & CEO, Quixy, as a speaker at the panel, asserted that government officials today need application development platforms that can be used to build and roll out applications swiftly and make changes to them easily as policies evolve. No-code low-code platforms like Quixy bring that power to the government departments where each department can build applications for their unique needs 10X faster compared to the traditional approach without writing any code.

No Code Technology platforms like Quixy take the “ability to write code” out of the picture and enable the non-technical workforce to participate in solution building. Any citizen with basic computer knowledge can automate processes and build software applications without writing code and deploy them with a click of a button. By 2025, 70% of new enterprise apps will be created utilizing low-code or no-code technologies, predicts Gartner, eminent global analyst.

Speaking about this unique technology, Mr Gautam Nimmagadda, Founder & CEO, Quixy said, “I believe excellent governance comes from one – outstanding leadership and two – good policies. Technology comes third as an enabler. Building solutions that can be adopted by the entire population, including those in villages and remote areas, require involving those who understand the local conditions and the problem that hinders adoption. No-code platforms like Quixy empower those government officials closest to the problems faced to get involved in building the solutions, thereby improving the adoption of these solutions. With no code, solutions can be built up to 10X faster, and also modified and redeployed to suit the changing policies and requirements very quickly”

The Hyderabad headquartered technology company has a team of over 250 specialists working from all over the country, in a remote method.

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The 8 th Edition of GovConnect National Digital Transformation Conclave was
held in the city. Senior policymakers, government functionaries and industry leaders have showcased active
enthusiasm at the event to discuss spinning the digital revolution in India. Quixy  (VividMinds Technologies Pvt.
Ltd), a leading No-Code Workflow Automation and Enterprise Application Development platform, introduced
the power of no code technology at the event at the Digital Transformation Conclave. No-code technology
realizes the idea of enabling people in building software without having to write code, or without even
knowing how to code.

At the event, Quixy was bestowed with the Digital Transformation Platform of the Year Award. Quixy platform
was developed with this vision to digitize every public or private enterprise globally through the
democratization of software development. Quixy asserts that everyone should be able to build custom IT
applications for their unique requirements without having to know how to code.

Mr. Gautam Nimmagadda, Founder & CEO, Quixy, as a speaker at the panel, asserted that the government
officials today need application development platforms that can be used to build and rollout application swiftly
and make changes to them easily as policies evolve. No-code low-code platforms like Quixy bring that power to
the government departments where each department can build applications for their unique needs 10X faster
compared to traditional approach without writing any code.
No Code Technology platforms like Quixy take the “ability to write code” out of the picture and enable the
non-technical workforce to participate in solution building. Any citizen with basic computer knowledge can
automate processes and build software applications without writing code and deploy them with a click of a
button. By 2025, 70% of new enterprise apps will be created utilizing low-code or no-code technologies,
predicts Gartner, eminent global analyst.

Speaking about this unique technology, Mr. Gautam Nimmagadda, Founder & CEO, Quixy said, “I believe
excellent governance comes from one – outstanding leadership and two – good policies. Technology comes
third as an enabler. Building solutions that can be adopted by the entire population, including those in villages
and remote areas, require involving those who understand the local conditions and the problem that hinders
adoption. No-code platforms like Quixy empower those government officials closest to the problems faced to
get involved in building the solutions, thereby improving the adoption of these solutions. With no-code,
solutions can be built up to 10X faster, and also modified and redeployed to suit the changing policies and
requirements very quickly”

The Hyderabad headquartered technology company has a team of over 250 specialists working from all over
the country, in a remote method.

About Post Author

The Business Daily

The Business Daily is North East India’s first Financial News Portal. This Pink Portal covers all big breaking news from the world of Business, Brands, Politics, Entertainments, Sports etc.

admin@thebusinessdaily.in

http://www.thebusinessdaily.in

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Microsoft has introduced a new Reading Progress Feature to help students with reading fluency. The company has launched the feature to its video meet and collaboration platform Microsoft Teams.

According to the company, the newly introduced feature can boost reading fluency in adult literacy. Especially it can particularly help the students in elementary schools. The ongoing Covid-19 pandemic has changed the definition of normal along with the ways of life.

Pandemic has heavily impacted the education system where the teachers try to cope with the new normal. In online education, teachers are facing issues to assess a student’s reading fluency in person. The Company is hoping that Microsoft’s new feature will help to solve the precise matter.

The feature allows the user to measure the precision, expression as well as the promptness of reading. It is said the feature will support different dialects and accents in the upcoming days. In the initial days, it will start developing for a US English audience.

Educators also will be able to turn off auto-detection. They can access the student’s enactment manually through a video of the student reading. The feature will also allow Teachers to regulate the sensitivity of the feature. In that way, they’ll be enabled to measure students with dyslexia or speech disorders. Azure is the backend support of this technology.

In the year 2021, Microsoft Teams added more than 100 new capabilities to date. Microsoft Teams has 145 million daily active global users.

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The Business Daily

The Business Daily is North East India’s first Financial News Portal. This Pink Portal covers all big breaking news from the world of Business, Brands, Politics, Entertainments, Sports etc.

admin@thebusinessdaily.in

http://www.thebusinessdaily.in

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