Tata Consultancy Services (TCS) is preparing to introduce salary increments for its workforce in the approaching fiscal period.
In a move anticipated to uplift the spirits of employees, the company is gearing up to implement a salary hike effective April 1st. As the new financial year unfolds, this boost in remuneration promises to bring a wave of positivity amidst the challenges of the modern workplace.
As reported by Business Standard TCS is expected to provide offsite employees with an average salary increase ranging from 7-8%, while onsite staff may receive increments averaging between 2-4%.
It is expected that the high performers are anticipated to receive a salary increase ranging from 12-15 percent.
In July 2023, Tata Consultancy Services (TCS) reported its consolidated financial results for Q1FY24 the quarter ending June 30, 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.”
Earlier, The NG Subramaniam Chief Operating Officer explained that remote working cannot help an organization build a great culture.
Recently, talking to TOI, NG Subramaniam, the Chief Operating Officer said, “We are very clear that we have to get our original culture back. Around 40,000 employees joined us online and quit online without any offline interaction during the pandemic, and that kind of situation cannot be helpful to an organization.”
“We are not in a business where employees use TCS as a launch pad. Remote working cannot help an organization build a great culture”, NG Subramaniam added.
TCS headcount dropped by 5,680 employees workforce stood at 603,305 as of December 31st with attrition at 13.3% for the last twelve months. The company’s workforce stood at 608,985 as of September 30, reported a dip of 6333 employees from the last quarter.
The employee base is very diverse, with 35.7% women and with 153 nationalities. Year to date, TCSers have clocked 39.7 million learning hours and acquired 3.7 million competencies including 515,000 high-demand competencies.
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