Companies bond with new talent using multi-year packages

With the adage "love your job, not your employer" gaining traction with every generation of fresh recruits, the job market too is using innovative tools to woo young blood for a "long-term relationship"

Education News Taking in probationers with stipends and subsequently absorbing them, retention bonuses at the end of the contract periods and funding candidates' higher education, are by now regular carrots used to retain talent. This placement season, companies have added a new item to the bouquet: Freshers are being offered salaries in ascending installments over 3-4 years. That is, they are being offered handsome fixed packages spread across years instead of the usual annual offer.

For instance, Urvi Palat, an electrical engineering student of the Sardar Patel College of Engineering, Mumbai, bagged a four-year package. "It covers assured performance bonuses that is divided evenly in the first two years and increases thereafter," Patel says. Some 20 other students of the institute have been offered fixed 3-4-year packages by three companies including data cruncher Mu-Sigma and business solutions provider EXL Analytics. "The offer looks attractive to many, but for a few who wish to pursue higher studies tend to disapprove such offers where the incentives come only after a couple of years in service," said Sardar Patel college training & placement officer Rahul Dahatonde.

The new approach to recruitment reflects the dramatic change in the job scenario in Asia's third-largest economy where youngsters are switching jobs more frequently. A recent survey by a global recruitment agency revealed that over half the employees in India feel changing jobs helps boost careers. Mu Sigma COO Ambiga Dhiraj feels that the growth in the tech industry has put "young minds" into the habit of thinking of short term gains over long term learning and career growth. "In our perspective, multi-year fixed packages help build an environment where compensation is not the driving factor for performance. Rather, it is elements such as learning and team work." The new wooing techniques are more in vogue among new-age companies, including those in the e-commerce arena. Ashu Malhotra, HR head at online fashion retailer Jabong, says a war for talent in the e-commerce space is behind the new trend.

While the arrangement itself resembles the inflexible employment bonds that curtailed career opportunities, companies loathe the comparison. They say that the fixed multi-year packages are innovative, lucrative and employee-friendly, much unlike bonds.
zyprexa smelt zyprexa cut in half zyprexa half life
amantadin nebenwirkungen amantadin hemisulfat amantadin stada
More News
NEET MDS 2022 Result Announced; Check Direct Link
The National Board of Examinations in Medical Sciences (NBEMS) on Friday, May 27 released the result for the National Eligibility cum Entrance Test-Master of Dental Surgery, or NEET MDS 2022. The candidates can check the NEET MDS 2022 result on the o...
NEET UG 2022 Correction Window Closes Today; Steps To Edit Application Form
The application correction window for the National Eligibility cum Entrance Test- Undergraduate (NEET-UG) 2022 will be closed today, May 27. The NEET UG correction window 2022 is available on the official website- neet.nta.nic.in. Cand...
Meghalaya Board HSSLC Result To Be Out Today; How To Check MBOSE 12th Result
The Meghalaya Board of School Education, or MBOSE, will release the Higher Secondary School Leaving Certificate (HSSLC), 12th result today, May 26, 2022. The MBOSE HSSLC results will be declared at official websites- mbose.in and megresults...
NEET UG Correction Window 2022 Opens; Here’s How To Edit Application Form
The National Testing Agency (NTA) has opened the application correction window of the National Eligibility cum Entrance Test, or NEET 2022 today, May 24, 2022. The NTA has come up with the NEET correction window 2022 at the official website neet.nta....
AP POLYCET 2022 Hall Ticket Released; Check Direct Link, Instructions
The Andhra Pradesh Polytechnic Common Entrance Test, or AP POLYCET, hall ticket has been released today. The State Board of Technical Education and Training, Andhra Pradesh has released the AP POLYCET 2022 hall ticket on the official website- polycet...
WBJEE 2022 Result Date Soon; Know Where, How To Check
The West Bengal Joint Entrance Examination (WBJEE) 2022 result date is expected to be announced soon. The WBJEE 2022 administering body, West Bengal Joint Entrance Examinations Board (WBJEEB) official website -- wbjeeb.nic.in, will host the WBJEE res...
BITSAT 2022 From July 2: How To Score Well? Prepare With This Knockout Programme
The Birla Institute of Technology and Sciences (BITS) Pilani will conduct its Engineering Entrance Exam- BITSAT 2022 from July. As per the schedule, session 1 of BITSAT 2022 will be conducted between July 2 and July 9, while the BITSAT session 2 exam...
Karnataka KSEEB To Announce SSLC Class 10 Result 2022 Today
The Karnataka Secondary Education Examination Board (KSEEB) will announce the Secondary School Leaving Certificate (SSLC) Class 10 result 2022 on Thursday, May 19. The SSLC Class 10 result 2022 will be available on the official website- ssl...
West Bengal WBJEE Result 2022 Date Likely To Be Announced Next Week: Official
The West Bengal Joint Entrance Examination Board (WBJEEB) is likely to announce the result of state Joint Entrance Examination (WBJEE 2022) by May-end. According to a WBJEEB official, WBJEE result 2022 declaration date is expected to be ann...
NEET PG 2022 On May 21; Check Syllabus, Paper Pattern
The National Board of Examinations in Medical Sciences (NBEMS) will conduct the National Eligibility cum Entrance Test Postgraduate, or NEET PG 2022 on May 21, 2022. The candidates who have successfully registered for the exam, got access t...