TCS to Reward Top Performing Employees with up to 15 Percent Salary Hike

The country’s largest software company Tata Consultancy Services (TCS) has made preparations to reduce the attrition rate. For this, the company will increase the salary of top performing employees by 12-15 percent. The company expects this to reduce the attrition rate from 20 per cent to 13-14 per cent in the second half of the current financial year.

Despite the slowdown in the global IT sector for the last few months, in the last financial year TCS Had done campus recruitment of 44,000 employees. Apart from this, there is a plan to increase their number to 40,000 in the current financial year. The company’s chief human resources officer, Milind Lakkad, said, “A 12-15 per cent increase in the salaries of top performers is being considered.” last year in junior cadre company had given 11 per cent bonus to the top performers. However, employees falling in this category in the senior cadre were given less bonus.

Apart from this, TCS has also prepared to increase the salary of the employees hired in campus recruitment. Due to this, other big IT companies like Infosys and HCL Technologies may also be forced to increase the salary of new employees. These companies have not increased the salary for new employees for the last almost a decade.

TCS has received orders worth about $ 10 billion in the fourth quarter of the last financial year. With this, the company’s order book has reached $34.1 billion. TCS has bagged the highest number of large deals for the fourth quarter. During January-March, the company’s net profit increased by more than 12 percent to Rs 11,436 crore. 9,959 crore in the same quarter last year. The company has declared a dividend of Rs 24. The company’s consolidated revenue stood at Rs 59,162 crore, a growth of over 16 per cent. 50,591 crore in the same period of the previous financial year. The company’s growth in the fourth quarter was largely driven by its retail and consumer packaged goods (CPG) solutions. The growth of its CPG vertical was 13 percent. Apart from this, the Life Sciences and Healthcare vertical has grown by more than 12 percent. The growth of the rest of the verticals of the company has been in single digit.