TCS Salary Hike: Good news for employees, will get increased salary from September. India’s largest information technology (IT) services company Tata Consultancy Services (TCS) has given a big relief to its employees. The company has issued an internal memo stating that most of the employees will get increment from September. This news has come at a time when recently the company had announced the layoff of 12,000 employees and a ban on salary hike, which was opposed a lot.
80% employees will get salary hike
TCS Human Resource Officer Milind Lakkad and CHRO Designated K. Sudeep said in an email sent to the employees that the salary increment will be effective from September 1. This decision will benefit more than 80 percent of the company’s staff. This move is part of the company’s strategy to reward and retain talent.
This decision is also important because the company had earlier deferred the salary hike citing global economic conditions. However, now this announcement has brought a wave of happiness among the employees.
Layoffs and salary hikes: Company strategy
Recently, TCS had decided to lay off more than 12,000 employees as part of its strategy to make its ‘organization future-ready’. The company says that this decision has been taken to invest in technology, artificial intelligence (AI) and workforce restructuring. After this layoff, the announcement of salary hike for the remaining employees is being considered a well-thought-out strategy of the company, which aims to retain qualified employees in the company.
Last week, many market analysts also indicated that TCS may increase salaries to encourage the remaining talent after the layoffs. It is also expected that other IT companies may also take similar steps.
Grade structure and career growth in TCS
TCS has a clear grade structure, which determines the promotion and salary hike of employees. It starts with the ‘Y’ grade, which is given to a new trainee. This is followed by grades like C1, C2, C3, C4, C5, and B, which finally goes up to CXO. Such a grade structure gives employees a clear path for their career growth.
Overall, this decision of TCS has brought great relief to the employees of the company. It shows that the company values the hard work of its employees and is committed to rewarding them, even if there are global economic challenges.
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