IBM India offers Retention Bonus
By Simran Chaddha

IBM Global Services in Bangalore has come out with a new incentive scheme to motivate its employees, who have been with the organization for over three or four years now, and have been good performers. This scheme has been implemented in a US Based Sales Process first.  Even as many IT companies are shedding staff and reducing salaries, IBM seeing a brighter future in India.

Sources told techgoss that the scheme is about the retention bonus for the year 2008-2009. All those employees who have been in the process or business unit from the very beginning and have been good performers have been chosen for the scheme. IBM follows the system of gradation wherein employees are placed in a Band corresponding to their designation. This goes from Band 1 and goes upwards as you proceed further in the corporate ladder. This scheme is applicable to people below Band 6 in IBM Global Services Pvt. Ltd.; which means it is applicable to all the employees chosen for the scheme up to the Manager grade.

The employees selected for the scheme will be paid amounts upto rupees forty five thousand in two different parts. The first payout would happen in September 2009 and the second payout would happen in March 2010. However, there are clauses mentioned in the letters given out, which state the following:

1.       The employee should be on the rolls of IBM Global Services Pvt. Ltd in the payroll cycles of September 2009 and March 2010.

2.       The performance rating should be not less than 2 for the years 2008-2009.

3.       The employee should be on or below Band 6 in the payroll cycles of September 2009 and March 2010.

4.       The employee should be aligned to their current business unit or Cost Centre as at present in the payroll cycles of September 2009 and March 2010.

The employees are happy on being selected for this scheme, and this has been announced now as a retention measure to retain top performers and ensure their loyalty for the company.  Truly a win win situation.