Delhi, April 21: Days after reports suggested that Tata Consultancy Services (TCS), might roll out 100 per cent variable payout for a section of employees for the recent quarter, HCLTech has announced that 85 per cent of its employees will be awarded variable pay for Q4 FY 2022-23. The company made the announcement in its earnings call on Thursday.

Business Today reported that HCLTech's Chief People Officer (CPO) Ram Sundarajan said that the variable pay for Q4 FY23 will be similar to previous quarters. Salary Hike For TCS Employees: Tata Consultancy Services To Increase Pay of Top-Performing Employees by 12-15%, May Raise Base Salaries of Freshers

The CPO said that “Let us start with the variable pay question. I think it's a very top of the mind question for everybody. We are not making any change to our variable pay plans. 85 per cent of our workforce will be in a variable pay plan this quarter.” Salary Hike for Cognizant Employees: IT Giant Announces Appraisal, Raises Pay of Over 3 Lakh Workers in Third Increase in Last 18 Months.

He concluded by saying that “Variable pay is just about five per cent, so it's not a big percentage of employee compensation. So far as the policy is concerned the variable policy pay, there is no change in the policy."

For those unaware, Variable pay is compensation that is awarded to an employee that has gone above and beyond their regular job requirements to contribute to the organization’s success.

Meanwhile, several reports have said that Tata Consultancy Services (TCS) is all set to offer 12-15 per cent salary hike to the top performers of the company. TCS hopes that this move, along with the slowdown in the job market, will reduce attrition from the current 20 per cent to 13-14 per cent in the second half of the fiscal year.

In addition to this performance appraisal of top performers, TCS is also reportedly considering a hike in the base salaries of campus recruitments, reports said.

(The above story first appeared on LatestLY on Apr 21, 2023 03:11 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).