Tata consultancy services , has decided to pay 100% of the variable pay to the majority of its employees. TCS is known to be country’s largest software exporter.
Confirmation through e-mail
Tata Consultancy services (TCS) is the country’s largest software exporter .Recently , it has announced that it would pay 100% of the variable pay to the majority of its employees. An email was received from Milind Lakkhad . Milind Lakkhad is the chief Human Resource Officer of the company . The email stated,” A decision has been taken to pay 100 percent of the quarterly variable pay (QVA) to all the employees up to C2 or equivalent grades covered under this plan “.
Moreover, the email given by the company stated about the variable pay of the employees who fall in grades above the C2 level . It further stated ” The individual payout for C3A or equivalent grades an above may vary depending on the Business Unit Performance “.
The employees who are upto C2 and above it , will be awarded a variable pay depending on the business performance. The amount will be for the third quarter of the financial year 2022-2023. The company had released variable pay to 70 percent of the employees . And the others had been awarded variable pay as per business unit performance in the quarter two of FY 2022-23.
Noting that TCS’s head count during December 2022 quarter fell by 2197. According to the regulatory filing on Monday . Its workforce strength as of December 31, 2022, was 613974. However , the attrition rate of its IT services segment stood at 21.3 percent. This was during the December 2022 quarter, which is marginally better than 21.5 percent in the previous quarter .
Milind Lakkad also stated that the company has also made some important investments towards talent development and in hiring fresh talent last year and in its first half.
The company CEO and managing director Rajesh Gopinathan stated that the overall hiring trend indicates almost same level of hiring as the previous quarters.
He further added ,”We should be hiring 1,25,000-1,50,000 people next year . It is an ongoing confidence in the medium- term, long -term view that we have.”