This IT firm to promote 50000 employees, not Ratan Tata’s TCS, Narayana Murthy’s Infosys, name is…

IT giant Accenture is set to promote around 15,000 employees in India in June 2024. This promotion is part of Accenture’s global promotion drive, under which over 50,000 employees worldwide will get advancements in their roles. Ajay Vij, the company’s Senior Managing Director in India, shared this information in an internal email to employees. He mentioned that during the entire fiscal year 2024-25, more than 43,000 employees in India would be promoted.

In December, Accenture did some stay-at-level (base pay) increases for some employees. Between June and December, a majority of Indian employees will have got base pay increases.

“As a reminder, bonus and performance equity decisions for those eligible will continue to be made as part of the December cycle, and we will also continue to evaluate the opportunity for stay-at-level increases at that time,” Vij added.

In September 2024, the Ireland-headquartered firm permanently shifted its promotion cycle from December to June, citing better visibility of client spending and demand.

“We’ve now permanently shifted that promotion cycle, so we will do our big promotion cycle in June, and our smaller one in December, to better match when our clients are setting their budgets and we have better visibility, and that’s what we’re seeing again.

“The justification for that is clear that we’ll really know IT spending and spending on our services in the budgets in January and February,” Accenture CEO Julie Sweet had said during the company’s earnings call in September.

Accenture is one of the largest employers in the Indian IT services sector, with over 3,00,000 staff. Its global employee count stands at 7,74,000. Accenture reported revenues of USD 64.90 billion in FY24. 

(With Inputs From PTI)

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