{"id":130565,"date":"2024-09-09T04:45:02","date_gmt":"2024-09-09T04:45:02","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/09\/09\/staff-costs-surge-at-hcltech-times-of-india\/"},"modified":"2024-09-09T04:45:02","modified_gmt":"2024-09-09T04:45:02","slug":"staff-costs-surge-at-hcltech-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/09\/09\/staff-costs-surge-at-hcltech-times-of-india\/","title":{"rendered":"Staff costs surge at HCLTech &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"1280\" height=\"720\" src=\"https:\/\/i1.wp.com\/static.toiimg.com\/photo\/msid-113177757,imgsize-904849.cms?resize=1280,720&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Staff costs surge at HCLTech &#8211; Times of India\" title=\"Staff costs surge at HCLTech &#8211; Times of India\" \/><\/div>\n<div>BENGALURU: <!-- -->HCLTech<!-- -->, in its recent investor presentation, said that employee costs as a percentage of revenue are higher than pre-pandemic levels. <br \/>In FY24, <!-- -->employee benefit cost<!-- --> was Rs 62,480 crore, which is 56.8% of the revenue. This is up from Rs 55,280 crore, which was 54.5% of the revenue in the year-ago period.<br \/>There has been a significant increase compared to the year immediately preceding the pandemic (2019-20) when employee benefit costs, excluding contractors, were 49.4% of the revenue.In the financial year that ended in March 2020, employee costs were Rs 34,928 crore.<br \/>Meanwhile, the firm has said that the increase in employee costs was due to an increased employee count at <!-- -->on-site locations<!-- -->. However, the exact mix of on-site and offshore employees has not been revealed by the firm.<br \/>&#8220;Onsite percentage increased due to acquisitions and taking over people as part of large cost take-out deals. Second is that <!-- -->fresher hiring<!-- --> remained subdued last year. These two reasons contributed to higher employee cost as a percentage of revenue,&#8221; Pareekh Jain, CEO and lead analyst at Pareekh Consulting, said.<br \/>Mrinal Rai, principal analyst at ISG, said that with an increasing focus on enabling clients to make the best use of the latest innovative technologies, there is also a focus on enhancing these professional services skills<!-- -->. These can also contribute to increasing the cost of resources, he said. This comes at a time when HCLTech, along with its peers, is trying to cut costs and even moderate appraisals, which are in single digits for most leading <!-- -->IT services firms<!-- -->. For HCLTech, the <!-- -->average salary increase<!-- --> for employees has been 3.4% for 2023-24 &#8211; among the lowest in a top IT services firms.<\/div>\n<p><script>\nvar _mfq = window._mfq || [];\n_mfq.push([\"setVariable\", \"toi_titan\", window.location.href]);\n!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n         function setAttributes() {\n                    var prime_user_status = window.isPrime ? 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In FY24, employee benefit cost was Rs 62,480 crore, which is 56.8% of the revenue. This is up from Rs 55,280 crore, which was 54.5% of the revenue in the year-ago period.There has been [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":130566,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/static.toiimg.com\/photo\/msid-113177757,imgsize-904849.cms","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[105208,289,4645,105207,105206,18353,5390,105205,273,22636,105204,105203,105202,500,2130,272],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/130565"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=130565"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/130565\/revisions"}],"predecessor-version":[{"id":130567,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/130565\/revisions\/130567"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/130566"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=130565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=130565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=130565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}