What is fav in tcs?
It depends on your base package(basic salary), revised salary package(sometimes, if your lucky :P ), your annual year end rating, type of project your into etc. We do not see any retrenchments," TCS MD and CEO Rajesh Gopinathan told reporters over a call. What is the salary of a Tech lead in TCS? 0 Likes. All the associates in TCS are rated on a scale of 0-5, 5 being the highest. Likewise, India's biggest IT conglomerate, Tata Consultancy Services (TCS), has a different hierarchy structure.
TCS Salary Hike: Tata Consultancy Services (TCS) will not roll out salary hikes to employees who have completed one year at the company. In an email to its employees, TCS said those completing a year at the tech firm will have to wait another year as the salary hikes for them will be rolled out in 2023.
“There has been a recent revision in TCS policy around the first anniversary. The first increment will be at the subsequent annual increment cycle,” TCS said in its internal email. In its notice to employees, the software firm said those who have completed their first year on April 1 or later will not receive any salary increment or letter over completing a year at the company, according to a report by Livemint.
Earlier, TCS dismissed repprts which claimed that the June variable compensation payout by a month for a section of its employees was delayed while asserting that it will pay out 100% variable pay for its 600,000 plus staff. “We have come across completely incorrect reports on our compensation. Variable pay is either paid in month one or month 2 as per the normal process and there is no delay in this process. 100% VA is being paid for Q1,” a recent statement released by TCS read.
In July, Tata Consultancy Services Ltd said it closed the first quarter of FY23 with revenue of Rs 52,758 crore and a net profit of Rs 9,478 crore. The Board of TCS also declared an interim dividend of Rs 8 per equity share of Re 1 each.
According to TCS, for the period ended June 30, 2022, it had posted a revenue of Rs 52,578 up from Rs 45,411 crore earned during the same period the previous fiscal. The company also said it had logged a net profit of Rs 9,478 crore for the period under review up from Rs 9,080 crore earned during the previous year comparable period.
The company’s workforce stood at 606,331 as on June 30, a net addition of 14,136 during the quarter. The workforce continues to be very diverse, comprising 153 nationalities and with women making up 35.5 per cent of the base, TCS said.
“We are starting the new fiscal year on a strong note, with all-round growth and strong deal wins across all our segments. Pipeline velocity and deal closures continue to be strong, but we remain vigilant given the macro-level uncertainties. Our newAorganisation structure has settled in nicely, getting us closer to our clients and making us nimbler in a dynamic environment. Looking ahead, we remain confident in the resilience of technology spending and the secular tailwinds driving our growth,” Chief Executive Officer and Managing Director Rajesh Gopinathan had then said.
IT services firm Tata Consultancy Services (TCS) has revised its anniversary appraisal policy for newly joined lateral employees, Moneycontrol has learned.
“Thank you for your contribution towards a year of growth. Your continued commitment and effort will help TCS sustain its leadership position. Your Annual Compensation will be reviewed during the next Annual Appraisal process…” CHRO Milind Lakkad said in an internal mail to eligible employees.
When an employee was seeking clarification on this, HR said all ‘EP Hires’ or experienced professionals with an anniversary date of 1st April 2022 or after, will not receive a letter and/or increment on completion of the first year.
“The first increment will be at the subsequent annual increment cycle,” says the mail from HR.
Nascent Information Technology Employees Senate (NITES), a Pune-based labour union came down heavily on the IT major. “At the time of recruitment the company promises to pay a definite salary to employees but later amend policies without even talking to employees which are no less than cheating,” Harpreet Singh Saluja, president of NITES told Moneycontrol.
“When employees were anticipating getting the anniversary appraisal, they were suddenly told otherwise. Why were they kept in the dark during the onboarding?,” Saluja added.
Unlike annual appraisal which happens on a specific timelines, anniversary appraisal is when an employee completes a full year of service into TCS from the date of his/her joining. Once the review process is done, employees usually get an email with a congratulatory message and the revised compensation (CTC). According to Saluja, many companies follow the same process but with different names.
“We have always had increments in line with industry benchmarks. Even during the pandemic, we ensured our increment cycles were unaffected. It is incorrect to suggest otherwise,” TCS said in a statement.
“All experienced hires will be given an increase as part of the annual salary appraisal that follows their one-year anniversary,” it added.
TCS did not comment on the reason for scrapping the anniversary appraisal policy.
“Though not mentioned in the offer letter, we were regularly told by our reporting managers about the anniversary appraisal policy. We even filled our inputs in the internal employee portal,” said a TCS employee on condition of anonymity.
The employee, who joined after the annual appraisal cycle in July, said he completed one year in TCS but did not get any anniversary appraisal as promised earlier.
HR expert Gautam Ghosh says the step looks to be about reducing overall salary costs to ease margin pressure, since attrition hasn't come down. “Because laterals would get more money.”
Over 6 lakh employee-strong company saw its attrition for the Q1FY23 come in at 19.7 percent on a last twelve-month basis, which is the highest in the last six quarters.
