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It's raining perks in the information technology sector as IT firms eye to retain in-house talent during attrition. In this context, top IT services firm HCL tech recently announced that is planning to give Mercedes-Benz cars to top performers, according to a report.

HCL Technologies Chief Human Resources Officer (CHRO) Apparao VV said the proposal is with the board for approval, according to a Times of India report. The company had given out 50 Mercedes Benz cars to top performers in 2013, but later discontinued the practice.

"Replacement hiring cost is 15% to 20% higher. Hence, we are actively participating in skilling our full force. If you need a Java developer, you will get them at the same price point, but a cloud professional can't be hired at the same price point," he said, as per the TOI report.

Meanwhile, during the earnings call for the first quarter of FY22, HCL Technologies had announced that it will hire 20,000-22,000 freshers this year, up 50% from what the company hired in the last financial year. The IT firm will also roll out salary increments effective 1 July to retain talents as attrition rises.

"There is an increase in attrition but if you see the rate of increase in attrition we are probably best among the peers. We are doing a lot of intervention in terms of engagement. and we believe that we will be able to a reasonable attrition rate over the next three quarters," Apparao VV added in the earnings call update.

At the end of the June 2021 quarter, the Noida-headquartered company had 1,76,499 employees with a net addition of 7,522 people. Its attrition for IT services (on last 12-month basis) was at 11.8%, the company said.

Apart from retaining employees and avoid rising attrition, some companies are also offering major perks and referral bonuses to new joinees as they aim to aggressively increase employee headcount.

One among them is fintech start-up BharatPe, which, in a bid to aggressively expand its 'Tech Team' by almost three times by FY22, is offering several joining and referral perks to techies who would apply.

"The company, that is planning to launch a slew of products in the merchant and consumer lending space, will be tripling the strength of its Technology Team and hiring 100 more members," BharatPe said in a statement.

Among the perks are 'Bike Package' and 'Gadget Package', where the joinees can choose either of the two. The Bike package has 5 bikes as options – BMW G310R, Jawa Perak, KTM Duke 390, KTM RC 390 and Royal Enfield Himalayan. The gadget package includes - Apple iPad Pro (with Pencil), Bose Headphone, Harman Kardon Speaker, Samsung Galaxy Watch, WFH desk and chair, and Firefox Typhoon 27.5 D bicycle.

Next, BharatPe will host its entire Tech Team in Dubai for the ICC Men’s T20 World Cup from Oct 17- Nov 14, 2021. The Tech team members will get a chance to watch the matches of the ICC Men’s T20 World Cup and cheer for their favourite team.

Moreover, the appraisals for the team have been preponed by 8 months and the team has earned 75% increments split between CTC and incremental ESOPs, effective July 1, 2021.

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