TCS Latest News, Global Economic Crisis: TCS – tcs offers variable compensation to employees even in the midst of a recession2k22


TCS Latest News, Global Economic Crisis: TCS – tcs offers variable compensation to employees even in the midst of a recession2k22

IT Industry News: On the one hand, when one company after another lays off its employees due to the global financial crisis, Tata Consultancy Services or TCS sets a unique precedent. The company paid 100% of total variable compensation to 70% of employees. This amount is paid to employees for the second quarter of the 2022-23 financial year. Milind Lakkad, the organization’s human resources director, announced this on Monday. In addition, the remaining 30% of employees will also receive this variable compensation based on the performance of their business units, he said.

He also said variable pay for the first quarter was paid to workers on time. Usually, this variable compensation is paid to employees in the first or second month of the quarter, the company said. But while TCS has paid this variable compensation to its employees, it is reported that several companies have not paid the variable compensation for the first quarter. While variable pay was not paid to mid-level and senior employees, it was reported that 70% of variable pay was paid to lower-level employees. On the other hand, another company, Infosys, paid an average of 70% variable compensation to employees.

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TCS hired 20,000 freshmen between July and September. And in the first half of the current fiscal year, the company has recruited more than 35,000 freshmen. The company said it will decide on the goal of recruiting new employees after the end of the third quarter which has just begun. However, several first-year students received nomination letters but were later canceled by several companies. However, Lakkad claimed that TCS did not. It was announced earlier by the organization that a total of 40,000 freshmen will be recruited this year. However, this organization claims that more than 10-12,000 freshmen could be recruited.

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However, old workers continue to leave even as new workers are hired. About 21.5% of employees left TCS in the past year, it is said. The second quarter of this year saw the largest number of employees leave. However, TCS bosses hope that number will drop a lot over the next two quarters.

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