TCS to dole out a second salary hike within a span six months

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TCS to dole out a second salary hike within a span six months
Indian IT major TCS announces wage hikes for a second time within a span of six monthsIANS
  • 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%.
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India’s biggest information technology (IT) services company, Tata Consultancy Services (TCS), is set to dole out a second round of increments for its employees within a span of six months.

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%.

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“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.

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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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