TCS has announced a Christmas gift for its staff and a 20% pay increase, which will be welcomed by thousands of workers. In addition, 4 lacks of the 6 million TCS employees would receive 100% variable pay in FY22. The remaining 30% of staff, according to the IT company, will be compensated based on performance. Only 10–20% of an employee’s remuneration depends on variable pay at the moment.
In-depth details about TCS Announces 20% Christmas Salary Hike For 70% of its Employees For achieving Rs 10000 Cr profit:
According to reports, TCS has offered a 20% Christmas salary increase for 70% of its employees and a performance-based raise for the remaining staff.
For those who are unemployed, variable pay is mostly based on how well the business is performing. ITCS posted a net profit of Rs 10,431 crore in the July–September 2022 quarter, surpassing the Rs 10,000 crore threshold for the first time in a quarter.
TCS’s chief human resource officer, Milind Lakkad, said in a statement to a news outlet, “We are planning to give 100% variable pay for 70% of employees… Depending on how well their respective business units perform, the remaining 30% will be paid. For Q2 (July–September), this.
After Wipro and Infosys reduced variable compensation for their employees in the first quarter, it was decided to offer 100% variable pay.
According to the research, Wipro’s entry-level staff only received 70% of the variable compensation that senior staff received. Infosys adopted a similar strategy and set the overall employee compensation cap at 70% of the previous level.
Tata Consultancy Services (TCS) reported a net addition of 9,840 personnel for the quarter between July and September 2022. The corporation employed 6,16,171 people as of September 30, 2022, at this time.