Satyam brings back staff benefits

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Mahindra Satyam
New Delhi, Sep 9: In a move that is indicative of the fraud-hit firm's recovery, Mahindra Satyam has announced that it has reinstated the variable portion of salaries of employees and it will be effective from Oct 2009.

Stating that the variable pay is 10-30 per cent of the overall pay, Mahindra Satyam Chief People Officer Hari T said that this move will have an impact on increasing the wage cost of the company.

But this decision also means that the company is confident of its strength now, Mr Hari pointed out.

In Apr 2009, when Ramalinga Raju admitted to the fraud, the company was forced to withdraw variable pay.

Other benefits that are being reinstated by the company are staff welfare allowance every quarter, performance-based ESOPs for middle and senior level associates, service anniversary programmes, staggered cash bonus for select set of associates at the junior level, along with various rewards and recognition programs.

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