The structure of the offer is fairly complex, and the details can be found in the letter from TechM by clicking on the link opposite. The levels of increase are dependent on grade, performance and current salary.
Under the proposal increases range from 1% to 4%, and virtually all members would receive an increase. The cash value of the proposal is 2% of current paybill.
As part of the agreement, the company is seeking to change the operative date for the pay review. The 2010 award would apply from 1 October 2010, but the 2011 and subsequent reviews would be brought forward to 1 April. This will enable reviews to link better into the global TechMahindra cycle.
The offer represents both the best achievable by negotiation and also an improvement on awards payable elsewhere in TechM this year. The same applies to this years bonus awards, details of which can also be found by clicking on the link opposite.
As previously indicated, there will be a conference call to discuss the offer on Friday 15th October at 11am. There will then be a e- ballot of members to consult on the proposal. It is our strong recommendation that members vote to accept the offer.