An Indian multinational information technology service company, Tata Consultancy Services (TCS) will payout 100% variable pay for 70% of its employees.
The company is paying variable pay to the employees just before the festive season which has been a great piece of news for the employees.
Milind Lakkad, Chief Human Resources Officer, said, “We are going to pay 100% variable pay for 70% of employees… the remaining 30% will get paid based on their business unit performance. This is for Q2 (July-September).”
Recently, The company earlier denied any change in its increment policy. It has also been said that there is no salary reduction for any employee.
Tata Consultancy Services Ltd said that dual employment (Moonlighting) is against the company’s core values and culture in general.
Chief Executive Rajesh Gopinathan said, “It is codified in our employment contract that you are not allowed to work for another employer.”
Tata Consultancy Services has already asked its employees to work from the office at least three days a week. A TCS spokesperson said that employees will be working according to the roster. The roster will be done based on project requirements. It will include both freshers and experienced professionals.
TCS made a net addition of 9,840 people this quarter and onboarded close to 20,000 freshers. It had said it plans to onboard 45,000-47,000 freshers in the current fiscal year out of which it has already hired 35,000 so far.
The software giant reported Employee Attrition of 21.5% for the second quarter ending on September 30, 2022, which is higher than the previous quarter of 19.7%
TCS has a total workforce of 6,16,171 employees globally and women account for 35.5 percent of the TCS workforce, the company said in a statement.