TCS announces salary hikes, effective from April 2021

This will be the second salary increment in six months, with the last one being announced in October 2020.
Tata Consultancy Services
Tata Consultancy Services
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Tata Consultancy Services, on Friday, announced increments for FY22, making it the first IT services company to announce increments for the year. This is the second salary increment in six months, with the last one being announced in October 2020 when the company announced its results for Q2 of FY21. The salary hike will be effective from April 2021.

“We can confirm that we are on track to give increments to all associates across our geographies effective April 2021, in line with our benchmarks. We are extremely thankful to all our associates for demonstrating resilience, adaptability, and an innovative mindset to steer the company in these trying times. This step is a reflection of our steadfast commitment to our associates,” a TCS spokesperson said.

TCS had frozen salary hikes in April 2020, soon after the lockdown was declared, and in October had announced hikes for employees broadly in line with what the company did in the preceding year, and in line with industry norms.

Combining both increments, TCS employees are expected to get an average hike of 12-14%. The company is also offering promotions as per the regular promotion cycle.

TCS had earlier also announced that it would be covering vaccination of its employees and their dependents.“Since the beginning of the COVID-19 pandemic, we have supported end-to-end treatment and care for all our associates and their families, across the globe, through our comprehensive associate well-being programmes. This included COVID-19 testing and treatment, setting up of free isolation centres and free test camps across locations in India, and premier care in hospitals for COVID-19 treatment, among other initiatives,” it said, adding that this will continue in the vaccination phase as well.

In Q3 of FY21, TCS saw its net profit go up by 7.2%, its strongest third-quarter growth in nine years. Revenue came in at Rs 42,015 crore, up 5.4% compared to Q3 of FY20. TCS also saw its lowest-ever employee attrition rate of 7.6%.

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