Indian IT giant Tata Consultancy Services (TCS) was under the radar as company posted Q3 results earlier this week and the employees of TCS were expecting good numbers, apart from market watchers and traders, to enjoy good variance pay. As the company declared strong numbers, in-line with estimates, TCS announced 100% variance pay (quarterly) to all the employees on its India payroll.
As per an official mail from HR team, the Mumbai-headquartered company delivered an unanticipated surprise by offering no dent in its variable pay to all the eligible employees of company. Generally, IT firms give out variable pay based on the performance of individuals and it also varies across business units.
Amid the growing tensions on layoffs and work visas, this offering by TCS has come down as a big cheer for the employees of Tata-group. On other hand, the TCS global head Ajoyendra Mukherjee clarified that employees working outside India are ineligible for the 100% quarterly payroll.
Now that TCS has come up with an unexpected surprise to its employees, similar offering is being expected from its peers like Infosys, Cap Gemini, Cognizant, Wipro and others.