Syntel: Rs 1 Lakh bonus
By Ria Sharma

Over the last ten months, Techgoss had published a series of exclusive reports giving details of all that was happening inside the BPO, KPO and IT divisions of one of India’s most successful IT-ITES companies Syntel.  One report showed how that in the recent past Syntel BPO was overly reliant on couple of key clients. Also, reported were the exits of the CEO and key HR people.

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We love our Tipsters! A regular Techgoss Tipster tells us

“
Syntel KPO is buzzing with the news that their top management had done a market survey and realized that their bright and hard working employees were being paid lesser than industry standards.  So there is a move to revise salaries.  In the meantime, each employee would be getting a huge bonus. Huge as in HUGE by Syntel Standards.

The catch?  The bonus would not be paid immediately.  It would be ‘released’ in two phases.  The first part in April, 2011 and the next would be October 2011.  The aim of this deferred bonus is

-To retain employees for a slightly longer period. To get the entire bonus an employee has to stay with Syntel for 1 year.
-Reducing the immediate cash flow of the company thereby releasing the funds after a time period of 6 months. Giving a salary hike would mean a continuous outflow of cash on a monthly basis.

The KPO bonus amounts have been announced and it is as follows

Trainee (E0) - Rs 10000
Associate and Senior Associate (E1 and E2) - Rs 25000
Team Leader (E3) - Rs 50,000
Manager (E4) - Rs 1,00,000.
“

How will the bonus be paid out?  Techgoss had reliably learnt that 40 percent would be given in April 2011.  The remaining 60 percent of the bonus would be given in October 2011.

If any employee leaves the company before these dates, they can bid the bonus goodbye.

Quite separately to this bonus in two installments, how extra sweet will be everyone’s Diwali at Syntel? Syntel had a practice of distributing sweets during Diwali, but it was stopped in 2008 when the recession hit.  Obviously, the stopping of sweets left a bitter taste in many mouths.  Our Tipster tells us that sweets were distributed this year.

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