TCS Variable Pay : Good news for employees, variable pay announced by TCS –

TCS Variable Pay : Tata Consultancy Services (TCS), India’s largest IT services company, has announced 100 percent variable pay for employees up to C2 grade. The variable pay will be announced in FY 2022-23 quarter based on employee performance. The company’s Chief Human Resource Officer Milind Lakkad said, the decision to pay Quarterly Variable Pay (QVA) at 100% rate to all employees of C2 grade or equivalent has been announced. This was informed in an e-mail sent to the employees.

A staff member explained that an officer of C2 Grade should have a minimum of 4 years of experience. As a result, they are not very senior in terms of work experience. Above that is C3A Grade. This position starts from the post of Assistant Consultant. C3A again refers to mid-level or above positions.

2022-23 FY Q2 70% employees under the company were given variable pay. It is given based on the performance of others. TCS’ headcount fell to 2,197 in the December 2022 quarter, according to a regulatory filing on Monday. Its workforce as on December 31, 2022 stands at 6,13,974. The attrition rate of its IT services division stood at 21.3 percent in the December 2022 quarter, slightly better than 21.5 percent in the previous quarter.

TCS headcount declines for the first time in 10 quarters. The company’s total employee count had earlier declined in the June 2020 quarter. March 2020 was the first quarter of service since the pandemic was half. At that time layoffs were going on all over the world. That retrenchment happened at TCS as well.
Milind Lakkad, the company’s Chief HR Officer, said that the main focus of the company in the last few quarters was to find new talent and join the company. Train them and make them work accordingly. Most proud of all is that TCS has 125,000 employees at middle and senior levels. They have been with the company for almost 10 years. As a result, as employees have given their labor and time, the company has also fully looked after their interests. As a result, this relationship is both types.

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