TCS to dole out a second salary hike within a span six months
- Tata Consultancy Services (TCS) has announced a second salary hike for its employees within a span of six months.
- Last year in October, the IT major increased salaries by 6% to 8%.
- This time around the company plant to hike wages by the same amount resulting in a cumulative boost of 12% to 14%.
The last salary hike was announced by the IT major in October last year, where the increase in wages was between 6% to 8%.
Sources told Business Insider, on the condition of anonymity, that the salary increments will be around the same this time around as well. This means employees will have received a cumulative boost of around 12% to 14%.
Advertisement“We can confirm that we are on track to give increments to all associates across our geographies effective April 2021, in line with our benchmarks,” a TCS spokesperson told Business Insider.
This comes after TCS’ attrition rate dropped to a record low of 7.6%, as of 31 December 2020. The company currently has 4,69,261 employees under its wing after adding 15,000 more to its roster between the months of September to December.
According to Milind Lakkad, head of human resources at TCS, over 96% of the company’s employees were still working from home before the New Year with only 3.4% in office.
Despite the challenges caused by the COVID-19 pandemic, TCS reported its strongest Q3 growth in nine years in 2020.
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