{"id":1245012,"date":"2023-04-26T10:58:32","date_gmt":"2023-04-26T05:28:32","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1245012"},"modified":"2023-04-26T10:59:05","modified_gmt":"2023-04-26T05:29:05","slug":"eligible-tcs-employees-will-get-100-bonus-in-2024-85-hcl-employees-will-get-variable-pay","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/eligible-tcs-employees-will-get-100-bonus-in-2024-85-hcl-employees-will-get-variable-pay\/","title":{"rendered":"Eligible TCS Employees Will Get 100% Bonus In 2024; 85% HCL Employees Will Get Variable Pay!"},"content":{"rendered":"\n<p>Days after TCS announced 100 per cent variable payout for a section of employees for the recent quarter, HCLTech announced that 85 per cent of its employees will be awarded variable pay for Q4 FY 2022-23, which will be similar to previous quarters where 85 per cent of the company\u2019s employees will be awarded variable pay.<\/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\/04\/Untitled-design-27-1-1280x720-3-1024x576-4-2-1-1280x720-2-1024x576.jpeg\" alt=\"Eligible TCS Employees Will Get 100% Bonus In 2024; 85% HCL Employees Will Get Variable Pay!\" class=\"wp-image-1245025\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/04\/Untitled-design-27-1-1280x720-3-1024x576-4-2-1-1280x720-2-1024x576.jpeg 1024w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/04\/Untitled-design-27-1-1280x720-3-1024x576-4-2-1-1280x720-2-300x169.jpeg 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/04\/Untitled-design-27-1-1280x720-3-1024x576-4-2-1-1280x720-2-768x432.jpeg 768w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/04\/Untitled-design-27-1-1280x720-3-1024x576-4-2-1-1280x720-2.jpeg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Additional compensation<\/strong><\/p>\n\n\n\n<p>Variable pay is compensation that is awarded to an employee that has gone above and beyond their regular job requirements for their contribution.<\/p>\n\n\n\n<p>It is a part of employee compensation which depends on the performance of the company as well as performance of individual employees.<\/p>\n\n\n\n<p>The pay is meant to boost employee morale.<\/p>\n\n\n\n<p><strong>CPO addresses staff<\/strong><\/p>\n\n\n\n<p>Chief People Officer (CPO) Ram Sundarajan said, &#8220;Let us start with the variable pay question.&nbsp;<\/p>\n\n\n\n<p>I think it&#8217;s a very top-of-the-mind question for everybody.&nbsp;<\/p>\n\n\n\n<p>We are not making any changes to our variable pay plans.&nbsp;<\/p>\n\n\n\n<p>85 per cent of our workforce will be in a variable pay plan this quarter.\u201d<\/p>\n\n\n\n<p>The CPO added, &#8220;Variable pay is just about five per cent, so it&#8217;s not a big percentage of employee compensation. So far as the policy is concerned the variable policy pay, there is no change in the policy.\u201d<\/p>\n\n\n\n<p><strong>Net profit, Sales<\/strong><\/p>\n\n\n\n<p>HCLTech reported a 10.80 per cent year-on-year (YoY) growth in net profit at Rs 3,983 crore for the March quarter compared with Rs 3,593 crore in the same quarter last year.<\/p>\n\n\n\n<p>It clocked 17.70 per cent YoY rise in net sales at Rs 26,060 crore for the quarter<\/p>\n\n\n\n<p>This is against Rs 22,597 crore sales it reported in the corresponding quarter last year.<\/p>\n\n\n\n<p><strong>New metric<\/strong><\/p>\n\n\n\n<p>Prateek Aggarwal, Chief Financial Officer, HCLTech noted: &#8220;FY&#8217;23 concluded with resounding growth of 18.5 per cent in INR and 13.7 per cent in CC, with EBIT at 18.2 per cent.&nbsp;<\/p>\n\n\n\n<p>This quarter, we have started publishing a new metric, Annual Recurring Revenue (ARR) for our Software business.&nbsp;<\/p>\n\n\n\n<p>It is <a href=\"https:\/\/www.businesstoday.in\/industry\/it\/story\/85-employees-to-get-variable-pay-at-hcltech-chief-people-officer-r-sundarajan-378289-2023-04-21\">heartening <\/a>to note that ARR is at US$ 1Bn+ level, which grew at 5.2 per cent YoY CC (ex. divested business).\u201d<\/p>\n\n\n\n<p><strong>Salary hikes in TCS<\/strong><\/p>\n\n\n\n<p>Chief Human Resources Officer of TCS Milind Lakkad had said that high performers in the company will be rewarded with 12-15 per cent hikes in FY24<\/p>\n\n\n\n<p>For others, hike percentages are ranging from 1.5 to 8 percent.<\/p>\n\n\n\n<p>\u201cOur hikes this year will be similar to what we have been giving.<\/p>\n\n\n\n<p>Especially for high performers, we are basically looking to get them to a 12-15 per cent hike.<\/p>\n\n\n\n<p>&#8220;Then there is 8, 5, 1.5\u2013 it\u2019s that kind of a number which is coming up&#8221; for the rest.<\/p>\n\n\n\n<p>The executive emphasised that this is <a href=\"https:\/\/www.timesnownews.com\/business-economy\/companies\/after-tcs-another-tech-company-decides-to-give-variable-pay-bonus-to-its-employees-deets-inside-hcl-tech-infosys-variable-pay-article-99659491\">better <\/a>than what TCS has done in previous years.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Days after TCS announced 100 per cent variable payout for a section of employees for the recent quarter, HCLTech announced that 85 per cent of its employees will be awarded variable pay for Q4 FY 2022-23, which will be similar to previous quarters where 85 per cent of the company\u2019s employees will be awarded variable [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":1245025,"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":[347,92,1451],"class_list":["post-1245012","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-hcl","tag-tcs","tag-variable-pay"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Eligible TCS Employees Will Get 100% Bonus In 2024; 85% HCL Employees Will Get 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\/eligible-tcs-employees-will-get-100-bonus-in-2024-85-hcl-employees-will-get-variable-pay\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Eligible TCS Employees Will Get 100% Bonus In 2024; 85% HCL Employees Will Get Variable Pay! - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"Days after TCS announced 100 per cent variable payout for a section of employees for the recent quarter, HCLTech announced that 85 per cent of its employees will be awarded variable pay for Q4 FY 2022-23, which will be similar to previous quarters where 85 per cent of the company\u2019s employees will be awarded variable [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/trak.in\/stories\/eligible-tcs-employees-will-get-100-bonus-in-2024-85-hcl-employees-will-get-variable-pay\/\" \/>\n<meta property=\"og:site_name\" content=\"Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-26T05:28:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-26T05:29:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/04\/Untitled-design-27-1-1280x720-3-1024x576-4-2-1-1280x720-2.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shreya Bose\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shreya Bose\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/trak.in\/stories\/eligible-tcs-employees-will-get-100-bonus-in-2024-85-hcl-employees-will-get-variable-pay\/\",\"url\":\"https:\/\/trak.in\/stories\/eligible-tcs-employees-will-get-100-bonus-in-2024-85-hcl-employees-will-get-variable-pay\/\",\"name\":\"Eligible TCS Employees Will Get 100% Bonus In 2024; 85% HCL Employees Will Get Variable Pay! 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