As per this development, the employees at India’s biggest IT company, Tata Consultancy Services Ltd (TCS) not meeting their minimum attendance requirements will not be eligible to receive a performance bonus.
TCS Guarantees No VPI For Poor Office Attendance
During the early hours of 18 April, Tata Consultancy Services Ltd (TCS) sent an internal memo to its employees, noting that the employees with less than 60% attendance at office, or those who have attended office for less than three out of five days a week.
The move aimed at cracking down on those who have been irregular or reluctant to work from office.
It appears that TCS has linked its work-from-office policies to its quarterly variable pay or annual bonus.
This does not end here as the internal memo further notified that employees consistently neglecting the ‘85% and above’ office attendance requirements may face “disciplinary action.”
So far, TCS has not released any statement in this regard.
How Does It Affect?
The memo noted that the seat availability at TCS’ physical locations will be taken into account while considering the performance bonus payable to employees.
Moving ahead, the memo added that valid exceptions to the said directives must be recorded.
The approvals for the same must be taken through the company’s internal portal for employee-related functions, Ultimatix.
Besides this, good news for the employees who come to office on four or more days in a week.
They will receive 100% of the performance bonus decided by the company management for the period.
Now those who have between 75% and 85% attendance, they will receive 75% of the performance bonus.
Next comes the Employees having office attendance between 60% and less than 75% office will receive half the performance bonus.
Please note here that the tech giant has already made it compulsory for its employees to attend office for 45 hours a week, or nine hours a day.
In response to this, an employee has said, “There is a quarterly variable pay which is never paid in full and to top that off, the company has linked it to return-to-office norms,” on condition of anonymity.
For the unawares, variable pay is given to employees on the basis of their performance over and above their base salary on a quarterly and/or an annual basis.
If you are wondering about the amount of variable pay, it varies from period to period and is decided by the company.
