TCS is ready to dole out a second round of increments

TCS
Image Courtesy: Ananlytics Indian Magazine

The biggest information technology (IT) services company of India, Tata Consultancy Services (TCS), is ready to dole out a second round of increments for its employees within a span of six months. The previous salary hike was announced by the IT major in October last year, where the increase in wages was between 6% to 8%.

According to the reports, it is stated that the salary increments will be around the same this time around as well. This means that 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 hike will take place just after TCS’s attrition rate dropped to a record low of 7.6%, as of 31 December 2020. TCS currently has 4,69,261 employees under its wing after adding 15,000 more to join between the months of September to December.

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As per 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 the office. In spite of several challenges caused by the COVID-19 pandemic, TCS reported its strongest Q3 growth in nine years in 2020.