According to the media reports, a global leader in IT services, consulting, and business solutions company, Tata Consultancy Services (TCS) requires 60% office attendance for variable pay.
According to a Times of India report, Tata Consultancy Services (TCS) has updated the following policies:
- As per the new policy update, it indicated that employees falling below 60% attendance may not qualify for bonuses.
- The new policy designates 50% variable pay for those maintaining attendance between 60% and 75% for the quarter.
- The employees attending 75-85% of the time will receive 75% variable pay, while those with attendance exceeding 85% will receive their full variable pay.
According to the reports, the policy said, “If an employee is found to violate the laid down policies, there will be implications on the annual performance review, compensation, and career progression of the employee.”
Recently, According to Mint, The company evaluated various factors including ‘Office Attendance’ before implementing the annual wage hike. This highlights the significance of regular attendance and performance evaluation in determining salary adjustments at TCS.
In February, Indian IT major, Tata Consultancy Services (TCS) announced the linking of promotions, hikes, and variable payout complying with its recent return-to-office policy.
IT giant was tracking the work from office attendance for rolling out promotions. The unit heads have written to their respective teams that assign grades.
In January, the company said that almost 65 percent of the employees are working from the office at least for three to five days.
In the January-March period, The company saw a sequential decrease in headcount by 1,759 employees. The workforce stands at 6,01,546 as of March 31, 2024.
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