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TCS announced double digit salary hike for employees


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Tata Consultancy Services (TCS), has announced a double-digit salary hike for high performers starting in April. Salary increments, based on performance, will happen between 4.5 per cent to 7 per cent, with exceptional performers receiving double-digit increases.

Tata Consultancy Services (TCS) has also recently made an exciting announcement regarding the variable pay of its junior employees. It has been revealed that junior employees with a minimum of 4 years of experience, falling under the C2 grade, will now receive a variable pay of 100%. This is a significant development for these employees and showcases TCS’s commitment to recognizing and rewarding their hard work and dedication.

In the past year, TCS had fewer employees at the end of the fiscal year, totaling 601,546. They reduced their workforce by 1,759 employees despite hiring less in the last quarter. Compared to the year before, TCS had 13,249 fewer employees, yet their revenue grew by 3.5%.

Other highlights from TCS’s fiscal year include having employees from 152 different countries, with women making up 35.6% of the workforce. Their attrition rate in IT services was 12.5%.

The variable pay for employees above the C2 grade will be determined by the performance of their respective business units. This ensures that employees across different levels are incentivized to excel in their roles and contribute to the success of their teams.

This announcement comes after TCS has consistently provided 100% variable pay to its junior employees in the past few quarters. The company has also announced salary increments ranging from 4.5% to 7% for its employees, with top performers receiving double-digit raises. This demonstrates TCS’s commitment to recognizing and rewarding exceptional performance.

TCS also intends to hire 40,000 freshers, although this number may vary based on demand. In terms of employee development, TCS employees have made impressive strides. Year to date, they have completed a staggering 51 million learning hours and acquired 5 million competencies. This showcases TCS’s commitment to fostering a culture of continuous learning and growth among its employees.

TCS has managed to keep its attrition rate under control. The IT services’ attrition rate for the last twelve months was 12.5%, a decrease of 80 basis points sequentially. This is within the company’s comfort range of 11% to 13%, indicating that TCS has been successful in retaining its valuable talent.

2 Comments

  1. Judging a best performing employee without partiality in right time by giving increase in salary hike and timely promotion improve the working atmosphere. Aditionally ESOP is also to be considered for employees so that they may feel owness.

  2. (TCS), has announced a double-digit salary hike for high performers starting in April. Salary increments, based on performance, will happen between 4.5 per cent to 7 per cent, with exceptional performers receiving double-digit increases.
    In private sector from working as labour in grocery shop to MNCs “work is worship’
    Because there is no job security because owners or founders of these private organization or MNCs has ‘zero tolerance’ to hear the word ‘No’.

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