Tata Consultancy Services’ biggest IT company in India has announced a salary hike for its 4.6 lakh employees from April 2021. As per some media reports, TCS has given the second salary hike in six months in 2022.
TCS is the first IT company to announce salary hikes in 2022. The company said in April 2021, “We are on track to give salary hikes to all employees across geographies from April 2021 according to benchmarks of the company.”
It further said, “We are thankful to all associates for showing resilience, adaptability, and an innovative mindset to grow in the difficult times. The salary hikes are a reflection of the company’s commitment to employees.”
TCS announced its first salary hike for its 4.5 lakh employees in October 2020 as it had a multi-year growth return on the back of global clients increasing technology spend.
TCS declared its first salary hike in October 2020 by 6 to 8 percent and second hike 12 to 14 percent in April 2021.
The company announced a salary hike two times in 2022, and it was not a double salary hike in six months. Because increments given by the company in October 2020 were for FY 2019, which was supposed to be announced in April 2020, but postponed due to the Covid-19 outbreak and lockdowns.
The next salary hike announced in April 2021 is for Fiscal 2020, which is part of regular yearly hikes. So basically, TCS has not given two salary hikes in 6 months. It is also planning to bring employees back to work. It has prepared a risk assessment model Intelligent Urban Exchange to assess how to bring about a particular percentage of employees back to the office.
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