{"id":1241545,"date":"2023-01-12T10:07:08","date_gmt":"2023-01-12T04:37:08","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1241545"},"modified":"2023-01-12T10:07:50","modified_gmt":"2023-01-12T04:37:50","slug":"tcs-will-pay-100-incentives-bonuses-for-only-70-employees-all-junior-employees-will-get-full-variable-pay","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/tcs-will-pay-100-incentives-bonuses-for-only-70-employees-all-junior-employees-will-get-full-variable-pay\/","title":{"rendered":"TCS Will Pay 100% Incentives, Bonuses For Only 70% Employees: All Junior Employees Will Get Full Variable Pay!"},"content":{"rendered":"\n<p>TCS has rolled out 100% variable pay for 70% of the employee base for the third quarter ended on December 31.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/01\/TTCCSS-2-1-1024x576-1-1024x576-2-1280x720-2-1-1-1024x576.jpeg\" alt=\"TCS Will Pay 100% Incentives, Bonuses For Only 70% Employees: All Junior Employees Will Get Full Variable Pay!\" class=\"wp-image-1241551\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/01\/TTCCSS-2-1-1024x576-1-1024x576-2-1280x720-2-1-1-1024x576.jpeg 1024w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/01\/TTCCSS-2-1-1024x576-1-1024x576-2-1280x720-2-1-1-300x169.jpeg 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/01\/TTCCSS-2-1-1024x576-1-1024x576-2-1280x720-2-1-1-768x432.jpeg 768w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/01\/TTCCSS-2-1-1024x576-1-1024x576-2-1280x720-2-1-1.jpeg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Payout despite tough environment<\/strong><\/h2>\n\n\n\n<p>It will give <a href=\"https:\/\/www.moneycontrol.com\/news\/business\/tcs-to-roll-out-100-variable-pay-to-junior-employees-for-q3fy23-9846931.html\">full <\/a>variable pay to all junior-level employees.<\/p>\n\n\n\n<p>This is despite a challenging business environment, where TCS had fewer deal wins.<\/p>\n\n\n\n<p>However, it still managed to exceed expectations on the revenue front.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Variable pay for junior level employees<\/strong><\/h2>\n\n\n\n<p>CHRO Milind Lakkad, in an email to employees wrote, &#8220;A decision has been taken to pay 100% of the quarterly variable pay (QVA) to all employees up to C2 or equivalent grades covered under this plan. \u201c<\/p>\n\n\n\n<p>These include trainees and IT analysts.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Variable pay for mid and senior employees<\/strong><\/h2>\n\n\n\n<p>For mid and senior-level employees, the individual variable payout is based on business unit performance and the amount could even <a href=\"https:\/\/www.indiatoday.in\/business\/story\/tata-consultancy-services-majority-of-employees-to-get-100-percent-variable-pay-q3fy23-2320169-2023-01-11\">exceed <\/a>100 per cent.<\/p>\n\n\n\n<p>&#8220;The individual payout for C3A or equivalent grades and above may vary depending on the business unit performance,\u201d the mail read.<\/p>\n\n\n\n<p>Designations C3 and above are senior employees at TCS, with positions ranging from assistant consultants to associate consultants.<\/p>\n\n\n\n<p>QVA is based on company performance and in the case of mid and senior employees the performance of the business unit is also a factor, said Samir Seksaria, CFO.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Loss of 2000+ employees<\/strong><\/h2>\n\n\n\n<p>During Q3 post earnings briefing, he had stated that the company expects to close the financial year at 25% operating margin (up 50 basis points from Q3). \u201c.<\/p>\n\n\n\n<p>During the third quarter, the company reported a loss of 2,197 employees on a sequential basis due to macroeconomic challenges the IT sector is facing.<\/p>\n\n\n\n<p>The headcount stood at 613,974 for the quarter-ended December.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Lowest net new addition<\/strong><\/h2>\n\n\n\n<p>Notably in the second quarter, the employee addition came in at 9,840 in July\u2014September period.<\/p>\n\n\n\n<p>This is its lowest net new addition in the last nine quarters.<\/p>\n\n\n\n<p>Lakkad said that the firm &#8220;made a significant hiring of fresh talent last year as well as the first half of this year&#8221;.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>HR Officer weighs in<\/strong><\/h2>\n\n\n\n<p>It made significant investment in talent development to make them productive which is now paying off.<\/p>\n\n\n\n<p>\u201cAll of this resulted in negative headcount but it does not indicate anything about the demand. Demand is high and we are just operating it efficiently,\u201d he <a href=\"https:\/\/economictimes.indiatimes.com.\/tech\/technology\/tcs-rolls-out-100-variable-pay-for-majority-of-the-workforce\/articleshow\/96901782.cms\">said <\/a>in response to the question on headcount fall.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>CEO\u2019s words<\/strong><\/h2>\n\n\n\n<p>When asked about the headcount reduction, CEO Rajesh Gopinathan said that the company invested in capacity building in 2021 to &#8220;bypass the industry&#8217;s hire-from-each-other attrition cycle.&#8221;&nbsp;<\/p>\n\n\n\n<p>He said that the company \u201cfocused on hiring at the entry level and invested in training and cross-training our resources.\u201d<\/p>\n\n\n\n<p>\u201cOverall, we are very comfortable with where we are with our net headcount,\u201d he added..<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TCS has rolled out 100% variable pay for 70% of the employee base for the third quarter ended on December 31. Payout despite tough environment It will give full variable pay to all junior-level employees. This is despite a challenging business environment, where TCS had fewer deal wins. However, it still managed to exceed expectations [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":1241551,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[92,530],"class_list":["post-1241545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-tcs","tag-tcs-variable-pay"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TCS Will Pay 100% Incentives, Bonuses For Only 70% Employees: All Junior Employees Will Get Full Variable Pay! - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/tcs-will-pay-100-incentives-bonuses-for-only-70-employees-all-junior-employees-will-get-full-variable-pay\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TCS Will Pay 100% Incentives, Bonuses For Only 70% Employees: All Junior Employees Will Get Full Variable Pay! - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"TCS has rolled out 100% variable pay for 70% of the employee base for the third quarter ended on December 31. 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