TCS Latest Update: TCS, the country’s largest IT company, is going to give hefty rewards to its top performers. According to a recent report, it is being said that the employees of this country’s largest company will get 15 percent increment.
There is good news for lakhs of employees of the country’s largest IT company TCS. The company can give salary hike of 12 to 15 percent to its top performing employees. This Tata Group company hopes that this step will reduce the number of employees leaving or changing jobs. At present, the attrition rate in the company is 20 per cent, which may come down to 13 to 14 per cent in the second half of this financial year.
Also, the company is looking to increase the base salary for campus recruits as well. If TCS does this, then other companies in the IT sector may also have to take a similar decision. The number of jobs in the IT sector is dwindling but TCS did 44,000 campus recruitments in the last financial year. This year the company plans to recruit 40,000 people from the campus.
According to a report, TCS Chief Human Resources Officer Milind Lakkad said that the company is considering giving 12 to 15 per cent salary hike to the performing employees. Rest of the employees can get an increment of 1.5% to 8%. Last year, the company had given 11 per cent bonus to top performers at the junior level, while less at the senior level. Apart from this, 100% bonus was given to junior executives in the first quarter of January-March. In the fourth quarter of the financial year 2023, the company recruited 821 new employees while in the fourth quarter of the financial year 2021-22 the number was 35,209.
Decline in attrition rate-
The attrition rate in TCS was 21.3 per cent in the December quarter, which came down to 20.1 per cent in the January-March quarter. Infosys reported an attrition rate of 20.9 per cent in the March quarter as against 24.3 per cent in the December quarter. Wipro and SCL Technologies are yet to declare their quarterly results.
Wipro will announce its quarterly results on April 27 and HCL Technologies on April 20. Infosys declared its result after the market closed on Thursday. But the market did not like this and the company’s stock fell by 12 per cent as soon as the market opened on Monday.
