TCS will pay 100% variable to THESE employees, know details here

Tata Consultancy Services (TCS) has rolled out 100 per cent variable pay for employees up to C2 grade, and employees who are above this pay grade will be awarded a variable pay depending on the business performance for the third quarter of Financial Year 2022-23. 

“A decision has been taken to pay 100 per cent of the quarterly variable pay (QVA) to all employees up to C2 or equivalent grades covered under this plan”, read an email sent from the office of the Chief Human Resource Officer of the company, Milind Lakkad.

“The individual payout for C3A or equivalent grades and above may vary depending on the business unit performance”, it added. 

The company had released variable pay to 70 per cent of employees, while others had been awarded variable pay as per business unit performance in quarter two of FY 2022-23.

TCS’ headcount during the December 2022 quarter fell by 2,197, according to its regulatory filing on Monday. Its workforce strength as of December 31, 2022, stood at 6,13,974. However, the attrition rate of its IT services segment stood at 21.3 per cent during the December 2022 quarter, which is marginally better than 21.5 per cent in the previous quarter.

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TCS CEO Rajesh Gopinathan and CHRO Milind Lakkad pointed out that the company made significant investments towards talent development and hiring fresh talent last year and in the first half of this year. The management feels that the investments in the capacity building have paid off, leading to efficient operations and increased productivity.