Tata Consultancy Services, the IT Giant, has increased the salary of 4.7 lakh TCS employees for the second time in six months after the company announced the first pay hike in October 2020. This hike is a reward for the employees for delivering consistent growth in the middle of a pandemic.
The company had hiked the salaries by 6 to 8 per cent in October. In this second pay hike, the company TCS employees will receive a 12 to 14 percent increment on average from April 1, 2021. It is the first IT company to announce pay hikes for FY 2022.
The spokesperson of the TCS has confirmed that the IT major is on track to give increments to all associates across all geographies effective from April 1, 2021, in line with the benchmarks. “we are highly thankful to all of the company’s associate for demonstrating flexibility, adaptability, and an innovative mindset to grow the company in the pandemic. This step of hikes is proof of the company’s commitment to its employees.
TCS will announce its Q4 FY2021 results in April 2021, and the company will make announcements for these hikes in financial results for Q4 FY21.
One of the IT major, Accenture, has also rewarded its employees for outstanding performance during the Covid-19 crisis with a one-time bonus. The bonus is declared equal to one week of basic pay for the employees below the managing director level.
Infosys has also rolled out salary hikes for employees along with promotions. It has also declared the bonus for performing employees in the quarter ended December 20.
Other IT companies like Cognizant, Wipro, and HCL Tech also announced salary hikes for their employees between the period of October 2020 to January 2021.