For salary hikes, IT firms now considering tenure along with performance

With the Information Technology (IT) sector going through a sharp downturn, companies have become selective in giving yearly increments to their employees, according to a report in The Times of India (TOI). The increments are now being based not only on performance, but also on how long the employee has been with the company.

India’s major IT firms, Infosys, Wipro, and HCL have deferred their increments this year. Usually, the increments come into effect in April or July. However, the companies have delayed the process by several months.