TCS' staff to get wage hikes of 10 percent

Mumbai: Aiming to provide a holistic professional career for its employees to keep attrition rates stable, Tata Consultancy Services (TCS) has decided to give average wage hikes of 10 percent to its India based staff. Employees who have been given promotions will get average hikes of 13 percent.

"In FY10, we have been through an entire business cycle where controlled hiring in the first two quarters gave way to rapid recruitment in the last two quarters. We have made 20,000 campus offers for FY 11," said Ajoy Mukherjee, Vice-President, Head, Global Human Resources. Also, the company's employees in developed markets will get wage hikes in the range of 2-4 percent, while those in emerging markets will get between 2-10 percent.

During the quarter, the company made net additions of 10,775. Attrition rates continued to be stable at 11.8 percent. Overseas nationals formed over 10,700 or 6.7 percent of the total employee base with employees from 80 different nationalities.

However, the increments and promotions will increase the company's overall costs by 'a little under $200 million.' This will start reflecting in TCS' financials in the second quarter of the current fiscal.