HCL rewards 130 top performers by offering them a paid holiday abroad with family or a Mercedes
Around 130 of the top performers of HCL can either drive home a Mercedes or take their family and friends on an all-expenses-paid international or domestic holiday as a reward for their contribution to the company.
"We realise their need to celebrate their impact on the growth of the company along with their friends and family," said Prithvi Shergill, chief human resources officer at HCL Technologies.
HRD experts feel the novelty of being given a luxury car or an all-expenses-paid holiday as a token of appreciation strikes a deeper chord than increased remuneration.
"The newness of a reward will have a larger appeal (than extra cash)," said Anandorup Ghose, performance, rewards and talent practice leader at executive search firm Aon Hewitt India.
P Thiruvengadam, senior director for human capital at Deloitte, expects perks to get more innovative in coming years. "Firms will watch the changes in market this year and the perks are bound to get innovative," he said. "Newer benefits, and training and study trips to top global colleges, could be adopted by companies amongst other options."
Kris Lakshmikanth, CEO, at The Head Hunters (India), his firm too plans to reward the top performers by sending them on a domestic holiday and few to an international one for the first time.
He expects many companies to hand out higher perks to top employees in 2015. "They are a motivating tool and nonpermanent in nature.
HCL's Shergill said in the last two years the Noidabased IT services major has rewarded little less than 200 of its top performers in the last two years. The 70 odd people who received their Mercedes (then there was no option of all expense-paid holiday) for their performance in 2013 were the first to be part of the CEO Club, a coterie that HCL Technologies started "to recognise high performing individuals in functional leadership roles at or above the group manager/associate general manager level of responsibility", the company said in a statement to ET.
HCL Technologies employs 95,522 people. According to Shergill, the company added the holiday option this year because a small group of top performers in 2014 were also part of the best of 2013.
In the last few years, Indian companies have been repeatedly trying to demarcate their ace performers from the rest and, with industries opening up to hiring, they are expected to go all out to retain their Stars.