TCS Says No Change in Increment Policy for Employees; Details Here!! Tata Consultancy Services (TCS) is an Indian Multinational Information Technology (IT) services and consulting company with its headquarters in Mumbai. Now, they said that there is no changes will be made to the Employee Increment Policy. Check details here.
All experienced hires will receive a rise, according to Tata Consultancy Services, as part of the annual wage review that comes after their one-year anniversary. Wipro reportedly delayed reimbursements for specific employee groups, while businesses like Infosys are reportedly distributing 70% of variable compensation. The annual wage review process for all experienced personnel will remain unchanged, according to Tata Consultancy Services (TCS), which announced this on Friday. “We have always had raises that were consistent with industry standards. We made sure that our increment cycles were unaffected even throughout the pandemic. It is false to imply otherwise. Following their one-year anniversary, the corporation will award all experienced hires a rise as part of the annual wage review.
The announcement followed claims that staff members received letters informing them that employees who had worked for the IT Company for a year would not be getting raises.
“TCS recently revised its policy about the first anniversary, “a letter delivered to the staff stated. According to the letter, people who finished their first year on April 1 or after will not get a letter or an increment when they reach that milestone.
“At the following annual increment cycle, the first increment will occur.” “The letter said.
The policy changes occur as the tech industry prepares for budgetary restraints in the face of a US recession. Wipro has delayed payouts for specific employee groups, while some companies, like Infosys, are distributing 70% of variable compensation. One of the key causes for tech companies with high labour costs is a squeeze on margins. TCS had previously claimed that its variable payouts had not been postponed. Follow our site for daily updates.
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