Tata Consultancy Services (TCS), a leading global IT services company, is bucking the trend of layoffs in the tech industry by not only hiring employees but also working to reduce employee pay disparity. In an interview with Moneycontrol, TCS’ chief human resources officer, Milind Lakkad, stated that the company is eager to offer its employees the chance to increase their skills and double their pay.

Reducing Pay Disparity

It is common for pay divergence to exist among junior and senior representatives in an organization. TCS, however, aims to fix this issue by offering employees the opportunity to double their salaries. Lakkad revealed that the company is working to decrease pay disparity among employees internally by investing in its own talent and giving them a chance to shine rather than spending a lot of money giving big raises to new hires.

To this end, TCS’ ability improvement program, Raise, has been in the news. The program is open to approximately 400,000 employees with experience ranging from 0 to 12 years. Those who pass the high bar assessment are immediately eligible for double salaries. However, on average, only 10% of people are able to pass these high-level programs on their first try.

In addition, TCS intends to enroll more employees with varying levels of experience in its existing programs to provide them with the opportunity to double their current compensation. Lakkad also shared that he believes representatives with 4-12 years of involvement could become experts in areas like innovation, network protection, IoT, examination, and man-made reasoning when the program ends. After that, they can select the sector they want to concentrate on.

However, Lakkad clarified that middle-class workers will not receive a raise right away. They will get a piece of the kicker and will receive the leftover kicker when they get conveyed to that job.

Opportunities for Skill Development

TCS is not only focused on reducing pay disparity but also on offering opportunities for skill development. The company is eager to invest in its own talent by offering them the chance to double their pay, which encourages employees to upgrade their skills and knowledge. TCS has distributed up to 44,000 job offers to freshers for the fiscal year 2024, and it intends to honor all offers. The company has also onboarded over 44,000 freshers and a record number of experienced professionals during the year.

In conclusion, TCS is setting an example in the tech industry by not only hiring employees but also investing in their talent, reducing pay disparity, and providing opportunities for skill development. By focusing on its employees’ growth and development, TCS is creating a positive work environment and setting itself apart from the competition.