Hexaware Surpasses Standard: 100%+ Variable Pay, Top Performers up to 120%

August 29, 2023


Hexaware Technologies, a leading global provider of IT services and solutions, has announced a 100%+ variable payout for its valued employees, ranging from 100% for employees who met expectations during this appraisal cycle to 120% for high performers who have demonstrated exceptional performance for two years. Despite the turbulent economic climate, Hexaware believes this investment in its workforce demonstrates an unwavering commitment to employee wellbeing and motivation and that is a testament to its core value of putting people first. Hexaware recognizes that a happy and engaged workforce leads to enhanced productivity, creativity, and collaboration.

Hexaware’s progressive approach to employee compensation is one of several strategic decisions that have led to the company’s remarkable growth trajectory. The recently released Brand Finance Report highlighted Hexaware as one of the IT Services industry’s fastest-growing brands in 2023. This recognition, which elevated the company’s rating to AA, is attributed to a 66% brand valuation growth over three years, reflecting its robust performance and consistent growth trajectory.

Despite the prevailing economic volatility where companies have put hiring on hold, Hexaware has firmly committed to growth. It plans to bring on board around 6,000 experienced professionals this year. The company’s reputation in the market and its people-first policy have attracted top talent, and employee retention has also seen a significant leap, jumping from 68% in 2021 to 73% in 2022.

Hexaware’s dedication to fostering an inclusive work environment extends to its digital infrastructure and processes. The company aims to attract the best digital talent globally, regardless of location or preferred work arrangement, by implementing advanced security protocols and cultivating a welcoming company culture.

In the 2022 calendar year, Hexaware experienced a growth of over 25% in CC (constant currency), making it one of the fastest-growing players in the market. Despite anticipated macroeconomic sentiments, Hexaware is optimistic about maintaining this growth pace in CY 23.

The American Business Awards® recently recognized Hexaware’s growth by honoring it with the Gold Stevie® Award for the ‘Fastest Growing Tech Company of the Year’ in 2023. Additionally, The Economic Times named Hexaware among the Best Organisations for Women in 2023, further reiterating its dedication to inclusivity and diversity.

Hexaware’s Chief Operating Officer, Vinod Chandran said, “We know it’s our people who make the difference. They bring passion, creativity, and drive to our daily work. Today, we honor their dedication with a 100%+ variable pay. Even in this challenging economic climate, we will do everything we can to show them that they matter as much as their work does. In fact, on the variable payouts for associates with non-KPI variable payouts, our average payout was 103% – which is significantly higher than our peer set. Our determination to go above and beyond in our variable payouts is a testament to our belief that when we support our team, remarkable things happen.”

About Hexaware 

Hexaware is a global technology and business process services company. Our 27,000 Hexawarians wake up every day with a singular purpose; to create smiles through great people and technology. With over 40 offices in 19 countries, we empower enterprises worldwide to realize digital transformation at scale and speed by partnering with them to build, transform, run, and optimize their technology and business processes.

Learn more about Hexaware at https://www.hexaware.com.   

Safe Harbor Statement

Certain statements in this press release concerning our future growth prospects are forward-looking, which involve numerous risks and uncertainties that could cause actual results to differ materially from those in such statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases globally, our ability to attract and retain highly-skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Hexaware has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry.

For more information, contact:   

Reena Kamble 
Hexaware Technologies Limited    
E-mail: ReenaK3@hexaware.com