Is TCS Giving Upto 15% Pay Hike To Its Top Performers? Here's What You Want To Know

New Delhi: In a bid to clamp down on high attrition rates and also to reward the top performing employees of the company, Software major Tata Consultancy Services Ltd (TCS) is reportedly going to give upto 15 percent pay hike, media reports said.

As per a report in the Live Mint, TCS is aiming to bring the attrition rates upto 14 percent from the current 20 percent and hence may announce pay hike ranging between 12-15 percent for its top performers. The company would be giving hikes between 1.5 percent to 8 percent overall for its average performing employees.

Additionally, the software major is also reportedly planning to hike the base salary of its fresh recruits, Mint reported.

It may be noted that Milind Lakkad, Chief HR Officer, had last week said: "We are honouring all job offers, and have added 22,600 employees on a net basis in FY 23. During the year, we onboarded over 44K (44,000) freshers and our highest-ever number of experienced professionals."

Last week, TCS annnounced revenue of Rs 225,458 crore and a net profit of Rs 42,147 crore. The company Board at its meeting has recommended a final dividend of Rs.24 per equity share of Re 1 each for FY23.

For the fourth quarter of FY23, TCS had logged a revenue of Rs 59,162 crore and a net profit of Rs 11,392 crore.

At the year end, TCS had a head count of 614,795 with the software employees attrition rate of 20.1 per cent. The company's net addition of employees during FY23 was 22,600.