look news india
Tata Consultancy Services (TCS), India's largest IT services company, has tightened its attendance policy. Sources told CNBC-TV18 on April 22 that employees with less than 60 percent office attendance will not get variable pay. Let us tell you that variable pay is that part of salary which companies do not give on monthly basis along with salary. Many companies do this once a year.
TCS ended its hybrid working policy in October 2023 and said in an internal communication sent in mid-September that the company has mandated that its workforce will be present in the office five days a week from October 1, 2023. Until then, employees were required to be in the office only three days a week.
Big step towards higher productivity
Since then, the company has been repeating this every quarter and motivating employees to come back to the office to ensure higher productivity. In its FY 2023 annual report, TCS said more than half of its workforce was hired after March 2020 and new hires benefit from physical interactions with seniors and leaders and learn about their behavior and ways of thinking. Let's learn from. Will get to learn.
Why is the company doing this
“Without those conversations, employee engagement as well as culture was adversely impacted,” the company said. All these factors led us to gradually bring people back to our offices over the course of the year. In January this year, TCS's new CEO and MD K Krittivasan had said that just one quarter after the implementation of the policy, about 65 percent of TCS employees are coming to office 3-5 days a week.
After the quarterly results for January to March 2024, Chief Human Resources Officer Milind Lakkad said that among other factors, the return of employees to the office has created a vibrant environment in the company's distribution centers and boosted the morale of associates.