Tata Consultancy Services’ HR chief, Milind Lakkad, explains the intention behind linking variable pay with office attendance as a way to boost the ‘return to office’ culture and not as a form of punishment for employees. TCS has segmented its variable pay policy, where those with 75-85% office attendance receive 75% of their quarterly variable pay, while those with 60-75% attendance receive 50%. Lakkad emphasizes that the goal is to encourage the value of working from the office and expects to reach the target number of employees soon.
The company is considering the continuation of this policy and assures employees that the variable pay deduction goes back to those who are coming to the office. In its Q1 FY25 earnings report, TCS reported a 9% increase in net profit and announced an interim dividend to be paid by August 5.
Keywords: TCS, HR chief, Milind Lakkad, variable pay, return to office, quarterly bonus, work-from-office attendance, company policy, Q1 earnings, interim dividend, employee benefits.
Concluding section:
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