HCLTech revises performance bonus policy to pre-pandemic version

IT services major HCLTech has revised its HR rewards and compensation bonus policy to turn the “engagement performance bonus (EPB)” component into variable pay from the current fixed 100 per cent bonus paid to all employees.

According to an internal email from the company, the management has informed employees about the updated policy that came into effect on April 23. According to the new policy, employees on the bench will not be eligible to receive the performance bonus, which may reduce their monthly salary.