After a pause, industry leader Tata Consultancy Services (TCS) has decided to go ahead with the salary hike for all its employees. The salary hike will be effective from 1 October and the quantum of raise is being worked out, the company said. Soon after the outbreak of the Covid-19 pandemic, the Mumbai-headquartered company while announcing its Q4 and FY20 results in April had decided to freeze the salary hike decision as a cautionary move.
"The salary increase will across all bands of employees and it (the quantum) will be similar to what we had done in the past," said Milind Lakkad, chief human resource officer at the Tata Group company.
In the second quarter, attrition for the IT firm hit an all-time low of 8.9 per cent, a fall of 120 basis points on QoQ basis. The total headcount of the company rose by 9,864 at 453,540 staffers by the end of September quarter.
TCS had onboarded virtually 7,200 trainees in India, around 1,000 in the US and close to 100 in Europe during the quarter.
"The business model is strong enough to withstand any challenges," said Lakkad when asked about the Trump administration tightening the visa rules for H1B applicants.
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