COVID-19 has had serious implications on business, the workforce, and the economy. With deals worth $3-4 billion suspended within March alone in the IT industry, many companies were forced to halt pay hikes and promotions. However, over 300 employees at Successive Technologies were considered for appraisals, bonuses, and promotions even during the nationwide lockdown. This leading technology services provider hired 35+ people in the last three months; a time during which most enterprises withdrew their job offers.
Successive Technologies has an engaging, employee-centric culture. This is reflected in the fact that a poll was created to take employees’ opinions on the appraisals policy during the coronavirus pandemic. Approximately 85% of the respondents stated that they are happy with the company’s decision to organize the performance appraisal process in phases. The idea was to consider junior and mid-level employees first and then the rest based on the budgetary allowance so that salary cuts can be avoided in difficult times.
The company also announced that it would offer 100% variable pay to all its members for their impeccable performance in the last year. A few team members expressed their sincere gratitude towards the organization for taking this step on social media.
Since mid-March, Successive has had over 25 project releases and has managed to sign a big contract from a multi-billion dollar U.S.-based company. With existing clients continuing to give more business and sales teams trying hard for new accounts, the company attributes its success to its hard-working and dedicated team members.
Sid Pandey, the CEO of Successive Technologies, said, “We will keep revising our policies as the situation evolves. We value our people more than anything and really care about their overall wellbeing. We need to keep the people above profits. This is the time where we need to help our people and clients rather than worrying about profits. We will also take initiatives to build a safe working environment for them.” The company will take all necessary steps for prevention and, therefore, sanitizer dispensers, fumigation machines, pulse oximeters, and infrared thermometers will be made available to maintain safety at the workplace, whenever Successive reopens. The company has prepared an effective business continuity and disaster recovery plan and restructured its financial models to deal with the impact of COVID-19.