HCL Technologies Marks $10B Milestone With ‘Special Bonus’ For Employees, Gratitude For ‘Immense Commitment’

“We have some great passionate people and a very strong people-centric culture which is thriving,” said HCL Technologies President and CEO C Vijayakumar. “Our client satisfaction is at an all-time high. So on multiple dimensions HCL is really racing ahead as a very, very strong digital transformation partner for our clients.”

HCL Technologies, which just passed the $10 billion revenue mark in 2020, up from $6 billion in 2015, is celebrating the milestone by giving its employees a one time “special bonus.”

In gratitude for the achievement, every one of the global system integrator’s 159,000 worldwide employees with one year of service or greater will receive a bonus of ten days’ salary.

Since C Vijayakumar was named CEO of the company in 2016, HCL has emerged as a fast growing IT services behemoth with a focus on next-generation technologies.

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“We have some great passionate people and a very strong people-centric culture, which is thriving,” said Vijayakumar in an interview last month before the bonus announcement. “Our client satisfaction is at an all-time high. So on multiple dimensions HCL is really racing ahead as a very, very strong digital transformation partner for our clients.”

HCL’s focus on “Mode 2” next-generation technologies including cloud, AI, security and internet of things is driving more than 25 percent growth in that red hot market segment for the company. HCL is looking at hiring about 20,000 new employees over the next two quarters, according to an interview with Vijayakumar by The Economic Times of India.

With its 66 percent sales growth since 2016, HCL has emerged as the “fastest growing” tech services behemoth with sales of more than $5 billion, said Vijayakumar. “That’s a proud moment as a GSI (Global Systems Integrator),” he said.

HCL Technologies finished the calendar year 2020 with 3.6 percent year over year growth in constant currency to $10 billion. Net income, meanwhile, was up 20 percent for the calendar year to $1.78 billion.

HCL Technologies Chief Human Resources Officer Apparao VV said in a prepared statement that the bonus is a means of expressing gratitude to the global IT services behemoth’s worldwide employees and their families.

“Our employees are our most valuable asset,” said Apparao VV in the statement. “Despite an unrelenting pandemic, each and every member of our HCL family has demonstrated immense commitment and passion, contributing to the growth of the organization. The $10B revenue milestone is a testament of our remarkable resilience as an organization and the entrepreneurial spirit of our 159,000 plus employees.”

The special bonus, which will amount to approximately $90 million plus payroll taxes in some countries, will be paid to employees this month. The impact of the bonus is excluded from the company’s Fiscal Year 2021 EBIT (Earnings Before Interest and Taxes) guidance.

HCL has announced major partnerships over the last six months with IBM, Google Cloud and NVIDIA. Last year HCL was named a leader in Gartner’s Magic Quadrant for Data Center Outsourcing and Hybrid Infrastructure Managed Services for both North America and Europe.

HCL’s success is due in large part to its position as a “thought leader” and “trusted advisor” that is bringing to market a digital solution or architecture that is in the client’s “best interest,” said Vijayakumar.

HCL Technologies has thrived with its deep knowledge of the complex cloud landscape, Vijayakumar said. With multiple cloud providers and cloud solutions, HCL Technologies is able to counsel each company it advises on the best course for their “digital transformation,” he said.

“As part of that role we feel very, very responsible for understanding all of the evolving technology landscapes, all the hyper-scalers, all the solutions,” he said.

HCL also feels “blessed” that the company has been able to “survive and help other businesses to survive and thrive” in the midst of the pandemic, Vijayuakumar said. “We are very thankful for that.”