2. News
  3. News Details

Companies bond with new talent using multi-year packages

Posted On: 04/11/2014      Updated On:
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
JEE Main 2027 Registration Underway: NTA Clarifies Valid Application Rules, Deadlines, and Attempt Limits
JEE Main 2027 Registration Underway: NTA Clarifies Valid Application Rules, Deadlines, and Attempt Limits NEW DELHI: The National Testing Agency (NTA) is currently accepting online applications for the Joint Entrance Examination (JEE) Main 2027 Sess...
Posted On: 13/11/2026
Read more
IIT Kharagpur Becomes First IIT To Launch MD Programmes Approved By National Medical Body
IIT Kharagpur Becomes First IIT To Launch MD Programmes The Indian Institute of Technology (IIT) Kharagpur has achieved a notable milestone by becoming the first IIT to launch postgraduate MD programmes accredited by the National Medical Commission ...
Posted On: 13/11/2026
Read more
University of Hyderabad Invites Applications for Free 6-Day Higher Education Leadership Programme; Registration Closes November 30
University of Hyderabad Invites Applications for Free 6-Day Higher Education Leadership Programme; Registration Closes November 30 HYDERABAD: The University of Hyderabad (UoH), through its Malaviya Mission Teacher Training Centre (MMTTC), has opened...
Posted On: 12/11/2026
Read more
Telangana To Adopt 10+2 Education System From 2027-28
Telangana To Adopt 10+2 Education System From 2027-28 Telangana is set to implement the 10+2 education system starting from the next academic year. Chief Minister A Revanth Reddy has instructed officials from the Education Department to initiate pre...
Posted On: 12/11/2026
Read more
Manipur Board Exams 2027: BSEM Class 10 & COHSEM Class 12 Date Sheets Released; Check Complete Subject-Wise Schedule
Manipur Board Exams 2027: BSEM Class 10 & COHSEM Class 12 Date Sheets Released; Check Complete Subject-Wise Schedule IMPHAL — The Board of Secondary Education Manipur (BSEM) and the Council of Higher Secondary Education Manipur (COHSEM) ha...
Posted On: 11/11/2026
Read more
Bihar Board Opens Registration For Free JEE, NEET Coaching 2027
Bihar Board Opens Registration For Free JEE, NEET Coaching 2027 The Bihar School Examination Board (BSEB) has initiated the registration for its complimentary coaching program aimed at students preparing for the Joint Entrance Examination (JEE) and ...
Posted On: 11/11/2026
Read more
What 3 Years of JEE Main Papers Reveal About Mastering Mathematics for 2027
Crack the Code: What 3 Years of JEE Main Papers Reveal About Mastering Mathematics for 2027 For engineering aspirants targeting JEE Main 2027, one subject consistently stands as the gatekeeper between a good rank and a dream seat: Mathematics. Over...
Posted On: 10/11/2026
Read more
Andhra Pradesh SSC 2027 Exam Fees
Andhra Pradesh SSC 2027 Exam Fees The Directorate of Government Examinations, Andhra Pradesh, has officially announced the fee payment schedule for the Class 10 (SSC) examinations set for March 2027, to be conducted in a pen-and-paper format. School...
Posted On: 10/11/2026
Read more
XLRI Announces Major XAT 2027 Updates: Marking Scheme Revised, HRM Seats Expanded to 240, and 17 New B-Schools Added
XLRI Announces Major XAT 2027 Updates: Marking Scheme Revised, HRM Seats Expanded to 240, and 17 New B-Schools Added JAMSHEDPUR — XLRI Xavier School of Management has officially introduced significant updates for the Xavier Aptitude Test (XAT)...
Posted On: 09/11/2026
Read more
CBSE Class 12th West Asia Special Exam Result 2026 Declared
CBSE Class 12th West Asia Special Exam Result 2026 Declared: How to Download Marksheet via DigiLocker NEW DELHI: The Central Board of Secondary Education (CBSE) has officially announced the results for the Class 12 Special Examination 2026 conducted...
Posted On: 07/11/2026
Read more
View all

Top Universities/Colleges