An Indian multinational information technology services and consulting company, Tata Consultancy Services (TCS) announced annual increments in double-digit hikes for top performers starting from April 1.
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.”
Salary hikes will be in the range of 4.5-7% based on performance; however, high-performers will receive double-digit increases,” Milind added, motivating exceptional work.
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.”
TCS plans to add about 40,000 freshers this year, many of whom have already joined from the previous cycles., he further added.
Furthermore, Tata Consultancy Services (TCS) Chief Operating Officer (COO) and Executive Director, N Ganapathy Subramaniam, will retire next month.
K Krithivasan, Chief Executive Officer and Managing Director, TCS, said, “As you all know, our COO will be retiring next month after more than 14 years of dedicated service to TCS.”
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“Many generations of TCSers, including me, have been mentored by him. On behalf of us at TCS, I would like to thank NGS for his leadership support and mentoring for all these years,” K Krithivasan added.
Moreover, the company intends not to designate a successor for N Ganapathy Subramaniam but to redistribute the responsibilities among existing personnel. He has a distinguished tenure spanning 14 years.
In the January-March period, Tata Consultancy Services (TCS) saw a sequential decrease in headcount by 1,759 employees. The company workforce stands at 6,01,546 as of March 31, 2024.
The employee base is diverse, with 35.6% women and 152 nationalities. Year till date, TCSers have clocked 51 million learning hours, and acquired 5 million competencies. IT services’ attrition was at 12.5% for the last twelve months.
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