New Delhi, Oct. 13 -- IT giant HCL Tech has announced its plan to change its quarterly variable pay policy to fixed salaries for all employees and roll out salary increments from October, following last year's process.

"We have also taken a decision to move the quarterly variable pay and convert that into fixed pay and merge it with fixed salary for all our employees," HCL Tech's Chief People Officer, Ram Sundararajan, said at a press conference following the release of quarterly earnings on Monday.

HCL Tech's variable pay system has two components. The first applies to most of the employees involved in projects. This involves variable pay based on project performance metrics, distributed quarterly. According to Sundararajan, the IT fir...