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Cognizant promoted 15000 associates globally

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DQI Bureau
New Update





It was the best of times; it was the
worst of times
. While many of us may have cribbed about the pay

cuts with href="http://dqindia.ciol.com/content/spotlight/2010/110042401.asp">appraisals

and promotion put on hold in the last one year, it now appears that

things are soon going to change and for the better.






And Cognizant has taken the lead by announcing the first round of
promotions an unbelievable 15,000 associates globally who are below

the manager level. In addition, the company also paid out about 200%

bonus in March. 






Shankar Srinivasan, Chief People Officer, Cognizant India says while
promotions in Cognizant have always been consistent with our philosophy

of recognizing the contribution of our associates towards our growth,

our industry-leading growth over the past year has enabled promotion

and career growth opportunities to a record number of employees this

year. These promotions will be effective from May onwards.






The first round of promotions has come in the wake of increase in
revenues. In the quarter ended March 31, 2010, Cognizants revenue was

$960 million, a sequential increase of 6.3% and 29% on the year. The

company also raised its 2010 revenue guidance to at least $4.1 billion,

up at least 25% compared to 2009.



As if this wasnt enough, there is more good news in store. Cognizant
will soon be announcing the second wave of promotions for associates

above the managerial levels. We are slated to promote those at Manager

and above levels effective July for which the numbers are being worked

out, adds Srnivasan. According to a report in Economic Times, a

sizeable chunk of the employees in that level are also likely to see

themselves redesignated to a higher level. These employees would

receive a fair chunk of href="http://dqindia.ciol.com/content/itsalarysurvery/2009/109092401.asp">pay

hikes as well.






Cognizant currently has around 78,400 employees. By promoting around
15000 associates globally, Cognizant has become the only IT company in

India to announce the largest number of promotion in one single

go.  Last month, Infosys had announced promotions for 7,500

employees.






While the company declined to disclose their hiring guidance,
Srinivasan added that in the last 12 months from April 2009 to March

2010, Cognizant has added 21,800 professionals to the global

headcounttaking the global headcount from 63,700 end of March 2009 to

85,500 end of March 2010. Incidentally during this period, we saw the

highest headcount addition in the last twelve months among the top-tier

players from India, he highlights. 






Unlike other companies of its ilk, Cognizant saw the economic slowdown
as an opportunity to attract as much good talent. In order to achieve

the end, we invested in people to gain an unfair share from the href="http://dqindia.ciol.com/content/DQTop20_05/humanresources/2007/107012701.asp">talent

marketplace, as evidenced in the strong hiring through much of

2009, Srinivasan signs off.














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