TCS Salary Hike: The benefit of salary hike has mainly been received by lower to middle level employees. At the same time, employees with excellent performance have been given more than 10% increment.
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TCS Employees Salary Hike: The country’s largest IT services company Tata Consultancy Services (TCS) has given a big gift to its employees. The company has increased the salary of most employees by 4.5% to 7%. Late on Monday night, the company started sending increment letters to the employees and this salary hike will come into effect from September.
TCS employees are in for a treat
This hike has been done at a time when a few months ago TCS had laid off about 12,000 employees. At that time, it had a big echo in both the IT sector and the stock market and the company’s shares saw a huge decline.
According to reports, the salary hike has mainly benefited the lower to middle level employees. At the same time, employees who have performed well have been given more than 10% increment. Earlier, the company had recorded a slight increase in the attrition rate of employees in the April-June quarter results, which reached 13.8%. Now this step of salary hike is considered important in the direction of keeping the employees together and increasing their morale.
Staff excited by increment
Investors may become a little cautious due to the increased cost of the company due to the need for salary increment of TCS employees and there may be a slight pressure on the stock. But keeping the employees together will strengthen the company’s growth and client retention, which may increase the confidence of investors.
It is worth noting that TCS had stopped salary increment for two months in view of the market situation and cost pressure. In July, the company’s Executive Vice President and Human Resource Officer Milind Lakkad had given a statement that the company has not yet taken any decision on the salary hike of the employees.
This had increased uncertainty among the employees and it was believed that the salary hike could be delayed due to layoffs and slow demand in the IT sector. But now the company has made it clear by implementing the salary hike from September that it wants to take its employees along.
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