No Variable Pay If TCS Workers Attend Less Than 60% of Office: Report
The policy of Tata Consultancy Services (TCS) has been revised to link the quarterly variable compensation to the presence of workers in the office. According to the most recent information, those who attend fewer than 60% of the scheduled events will not be eligible for the quarterly incentive. This modification complies with the IT services giant’s requirement that staff members work five days a week from the office.
Moneycontrol was notified by sources that TCS has updated its policies on the internal HR site and notified staff members of the modifications.
TCS’s New Employee Policy
The corporation now needs a minimum attendance of 85% in order for workers to be eligible for full quarterly variable pay, following the updated policy that went into effect on April 17. Discipline measures might be used if this criteria is not regularly met.
The TCS Variable Payment Regulation
A TOI study states that workers who attend work 75–85% of the time will earn 75 percent of their variable pay; employees who attend work 60–75% of the time will only receive 50 percent of their variable pay.
“Every employee from TCS designated work premises is expected to comply with the TCS India Policy Working Hours Policy and the TCS India (BPS) Policy Working Hours, which define the Working Hours for the organization. For the purposes of this document, any reference to this includes TCS offices, Client locations, or any other TCS designated physical location),” the statement reads. Moneycontrol cited the notice copy.
“The organization had recently taken temporary measures to enable associates to work remotely,” the statement said. as a necessary and urgent reaction to the worldwide pandemic. This has been ended since the social climate has returned to normal, and it is required of all colleagues to make sure they show up in person at work.
TCS Hybrid Work Structure
Following the pandemic, TCS instituted a hybrid work paradigm that was terminated on October 1, 2023, requiring workers to work five days a week from the office.
Employees at TCS received notice via email in February 2024 that their variable pay will soon be dependent on their presence in the workplace.
Q4 2024 TCS Results
The majority of TCS workers “returned to the workplace, fostering shared experiences, enhancing learning, collaboration, and camaraderie” during the fourth quarter that ended on March 31, according to a recent statement from CEO and MD K Krithivasan to staff members summarizing the company’s success for FY24.
He’d remarked, “I have no doubt that together we will unlock many new opportunities as we build on this momentum.”
Q4 2024 TCS Results
TCS said that its net profit for the March quarter increased by 9.1% to Rs 12,434 crore. The company’s net profit for the fiscal year 2023–24 increased by 9% to Rs 45,908 crore, according an exchange filing.
The Tata Group firm made Rs 11,392 crore in post-tax profit from January to March of last year.
Its sales increased 3.5% year over year in the March quarter to Rs 61,237 crore. Its operational profit margin increased to 26% from 1.50%.
