Tata Consultancy Services (TCS) has announced its efforts to address pay disparities among its employees. TCS' chief human resources officer (CHRO) Milind Lakkad revealed in an interview that the company is looking to provide opportunities for employees to upskill and potentially double their salaries.
While many companies in the tech industry are facing the need to lay off employees in order to survive, TCS has committed to hiring freshers and addressing pay disparity, Lakkad said in an interview with Moneycontrol.
The CHRO said that the IT services giant offers in-house programs that allow employees to upskill and advance in their careers. Lakkad mentioned that the company plans to enrol more employees from different experience levels in these programs. One such program, Elevate, offers the potential for employees to double their salaries after clearing assessments. However, only about 10 per cent of employees per year typically pass the assessments required to receive the salary increase.
Lakkad also noted that TCS is considering increasing pay for freshers and providing 100 per cent quarterly variable pay to employees at junior levels. TCS has yet to determine when or if it will change salaries at the bottom, but the CHRO expressed that the company's programs are a better strategy than a blanket change of salaries.
As per regulatory filings for the financial year 2024, TCS has rolled out 44,000 job offers to freshers. In the earnings call, the company assured that they will honour all job offers made to freshers.
"We are honouring all job offers, and have added 22,600 employees on a net basis in FY23," Lakkad said during the earnings call.
He further said in the earnings call, “We also doubled down on organic talent development, obtaining over 53,000 cloud certifications during the year, bringing the total to over 1,10,000 employees certified on hyperscaler platforms. This places us among the top two partners for the largest cloud providers.”
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