Tata Consultancy Services (TCS), a prominent IT services firm, has announced salary increments ranging from 4.5% to 7%, contingent on performance. The high-performing employees will receive double-digit pay hikes.
According to a Mint report, TCS has also assessed Office Attendance before giving pay hikes to over 6,00,000 employees.
Milind Lakkad, Chief HR Officer said, “We are pleased to announce the annual increments for our workforce, as we have done consistently every year, with top performers receiving double-digit hikes.”
In 2023, Milind Lakkad, Chief HR Officer said, “We have given a 12-15% raise for exceptional performers in our latest annual compensation review, and also commenced the promotions cycle.”
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.
Earlier in February, Tata Consultancy Services (TCS) issued a final notice to remote-working employees and asked them to resume work from the office by starting March.
“We are exercising patience but have taken a principled stand that people have to get back to offices. We have sent the final communication to staff on this and if they do not (follow), there will be serious consequences to face,” TCS’s Chief Operating Officer, NG Subramaniam had said.
In February according to TOI, Indian IT major, Tata Consultancy Services (TCS) was linking promotions, hikes, and variable payout complying with its recent return-to-office policy.
The IT giant was tracking the work from office attendance after which the company was rolling out promotions. The unit heads have written to their respective teams that assign grades.
In January, Moreover, almost 65 percent of the associates 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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