Tata Consultancy Services (TCS) has seen around 70% of its employees returning to the office following the implementation of a new attendance-linked variable pay policy. According to TCS’ Chief Human Resource Officer Milind Lakkad, the new policy has proven effective in encouraging employees to return to the office.
The company’s decision to link quarterly variable pay with attendance in the office was put in place in April 2023. Employees with less than 60% attendance are not eligible for the quarter bonus. This policy change came after TCS implemented a mandatory five-day work-from-office schedule.
To be eligible for the quarter bonus, employees must maintain a minimum of 85% attendance in the office. TCS has also emphasized the importance of compliance with this new policy, stating that disciplinary action will be taken in cases of non-compliance.
TCS has structured the policy into different slabs based on attendance levels. Employees with 75-85% attendance will receive 75% of their variable pay, while those with 60-75% attendance will receive 50% of their variable pay.
Lakkad expressed that around 70% of employees have returned to the office and that this number is steadily increasing each week. He emphasized the value of employees coming back to the office and noted that there is a positive shift in employees realizing the benefits of being physically present at work.
In financial news, TCS reported a 9% increase in net profit to ₹12,040 crore for the first quarter of the financial year 2024-25. The company’s board also announced an interim dividend of ₹10 per equity share to be paid on Monday, August 5th.
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