With the return of festive season in the country, there is also a relief for employees of big IT organizations who have been waiting for hikes and promotions for last one and half years. Joining the news is India’s second-largest software company Infosys has told its employees that they can expect pay hikes and promotions by the end of October. Earlier this month India’s largest software company TCS, third-ranked Wipro, as well as Cognizant and HCL, have announced a return to salary hikes and these companies are also joined by smaller rivals such as MphasiS-EDS, Sonata Software and Symphony Services.

The reason for giving this hikes and promotions is like giving choclate to a crying child. Most of the employees have worked very hard during the time of recession, but they are not being rewarded for a long time. Instead of rewarding the employees with good performance, companies are cutting costs and not giving any hikes, to achieve their projected revenue guidance. This has been the story of the every organization for over the last one and half years and nobody has the courage to speak because everyone has fear of losing the job.

But now as there are many openings in the market for lateral recruitment and the top performers are getting the pay packets they deserve in other companies so why they should stay and do the same job, if they are not getting any reward. So the main reason behind this hikes and promotions is just to stop the attrition of the employees and nothing else.