Tata Consultancy Services (TCS) linked the attendance of employees to variable pay under the new policy. After this, about 70 percent of the company’s employees have returned to the office.
Milind Lakkad, Chief HR Officer of the company, says that this measure is a temporary step and should be seen as such. In April 2024, TCS linked the quarterly variable payout of employees to their attendance in the office.
Those with less than 60 percent attendance will not be eligible for quarterly bonus. Earlier, TCS had made it mandatory for employees to work from office 5 days a week by ending work from home.
Minimum 85% attendance is required in the office
Under the new policy, employees must have a minimum of 85 percent attendance in the office to receive full quarterly variable pay. Also, disciplinary action can be taken if this is not followed consistently. Employees with 75-85 percent attendance will get 75 percent of their variable pay, while employees with 60-75 percent attendance will get only 50 percent of their variable pay.
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Under the new policy, employees must have a minimum of 85 percent attendance in the office to receive full quarterly variable pay. Also, disciplinary action can be taken if this is not followed consistently. Employees with 75-85 percent attendance will get 75 percent of their variable pay, while employees with 60-75 percent attendance will get only 50 percent of their variable pay.
The number of people coming to the office is increasing every week
After releasing TCS’ April-June 2024 quarter financial results, Lakkad said, “Today, about 70 percent of our employees are back in the office. I am not very worried about how many people are not coming to the office and getting affected by it. I would say this number is increasing every week.” Lakkad further said that some are coming to the office for the first time as they were associated with the company during the pandemic. Everyone has to look at it positively.
