Benefits in The IT Sector

IT has successfully made business 24*7. IT industry has not only brought the world together, but it has allowed businesses to operate from a remote location. The company makes huge benefit by outsourcing it’s work to cheap location and the employees make good money as it is quite high compared to the existing rates. The benefits of IT sector adds huge salaries and perks in every employees pocket. It also gives a great professional future and more opportunities to learn and work with advanced technology. Working in IT sector is more beneficial for an employee than in other sectors. We have such benefits such as below:

Globalization:

We get a chance to work and deal business across the boundaries. The IT industry has created a single market place and information across the globe is shared at a single place. Employee gets an opportunity to interact with advancement of technology usage which really brings him to a different stage and life style.

Communication:

IT has brought the conversation of people quicker, cheaper and more efficient for every single person around the world with the help of information technology.Most of the companies give reimbursement on the internet charges.Even your phone bill is covered under FBP and you get tax benefits out of that.

Insurance:

• Medical Insurance: Companies provide medical insurance which covers a sum percent cost of surgeon fees, hospital wards, and prescription. For extra overall package dental and optical is added. This coverage can be included with family of the employee too.
• Long Term and short term insurance: Short term insurance includes charges after few weeks of accidents or illness of the employee. Long term adds the charges where employee is suffering from permanent illness or high injury.
• Life Insurance: Life insurance helps protects your family in an unfortunate event of your death. Usually this benefit is given to a spouse or children.Employee can get this insurance by sponsoring a group plan. This life insurance works only for a permanent employee or long term employee in a company.

Financial Benefits:

No matter what ever your position is in a company if you’re working hard and reaching up your target whatever you were hired for you are benefited by incentives and scholarship for your higher studies.

Profit Sharing:

Basically it’s an agreement b/w the employee and company Profit Sharing is an arrangement between an employer and company where employer shares part of profits with the employee. It’s different from bonus which an employee gets it’s a part of profit earned by company and bonus is kind off increment. Profit sharing can be in the form of stocks, bonus or cash payment to an employee.

Relocation Expenses:

Relocation is both expensive as well as time consuming. If your hired from a campus then you will be getting a good lumpsum amount for shifting yourself at the company location.Normally the company gives one way flight or AC-2 tier ticket from your native to your city of work. The company also provides 2 weeks of accomodation in a guest house or hotel.For example, if you are joining Cognizant (CTS) in Chennai, then you might be given accomodation in Nova Scotia in KK Nagar. If you are working out of Accenture Bang6, you will be given accomodation in Accenture’s guest house in Prestige Shantiniketan. Some good product companies also allow you to stay in a 3 star hotel.

Bring your own desktop:

Some product companies like Citrix, Juniper etc have the option of allowing employees to Bring their own Desktop. (BYOD scheme). The employee can buy a laptop of approx $500 and get it reimbursed by the company. The employee will need to return 50% of the amount if the employee leaves the company after one year.He/she needs to return 25% of the amount if he/she leaves in 2 years. It becomes free in the 3rd year. Note that you can buy the laptop only if your manager has a budget in his/her Business Unit. Standard tax laws are applicable.

Onsite:

This is the biggest benefit and incentive of joining an IT company. IT has helped ignore the cultural differences between the countries by hiring people from different cultures to bring along in one society to communicate and work with each other, for exchanging the ideas and views of business.When an employee from India goes abroad to work, he/she gets paid in dollars. Usually per-diem is shared.The person can make good money and gain valuable knowledge by working with Global companies

Time:

In IT time is not only a word “it means business for every second every minute and every hour”. If your failing to understand the concept of time in IT companies it’s a hard luck of your to grow yourself for future. The planning, organizing and goals are decided on the basis of fundamental of time.IT companies teach you the value of time and meet the deadline.

Creation of new personality:

Companies are using gaming techniques to motivate and educate the employer to turn him into a perfectionist. To grab the attention of employees every now and then companies are adopting many ways such as annual programs and other things related to entertainment. There would be lot of team lunches/dinner,outing and games to promote team spirit. This helps to improve the personality of the individual. After sometime, you will be called as an “IT GUY” 🙂