We have heard a quite a lot about TCS just before its 2008-09 Q4 results, the number of employees fired from India’s Biggest IT company during that period is still not known. But after the results the trend came to a halt, it was quite evident that the management had a number in mind in terms of firing. Once the number was achieved projects became more stable in terms of firing.Even some of the managers and HR started assuring employees that the involuntary separation has been stopped.
But even before the IT job market could start looking up, many have started leaving TCS on their own, many due to freeze in promotion and others due to totally autocratic management and HR. The management has started treating employees in a very tough manner over the last few months, and use of words like “Resign if you dont like”, liberally in case of any arguments. This had done a lots of damage to the employee morale, and combine it with frozen promotions for past 2 years. Many employees dont even believe the promotions to the 4 -6 year experienced will start in near future. On the other hand the managers have been getting promotions and other benefits due to their “Excellent Performance !!” .
Companies like TCS have a totally scandalous way of rewarding the long serving employees. Their compensation policies are ridiculous at best and demoralising at worst.
TCS pay structure for freshers go like this once a fresher completes 2 years they get a package of 4.5 Lakhs and are tagged as ASE (assistant systems engineer). To get any further hikes he needs to complete 2 more years ie total of 4 years of experience before he/she can get a new pay package of Rs 6 Lakhs and a role of ITA (IT Analyst).
But for many in the experience range of 4-6 years there has been no promotion for last 2 years and add 2 more years before TCS opens up promotion. So a 6-8 year expereinced IT professional will get Rs 4.5 Lakhs per annum , and it is same as that of a 2 year experienced. If he jumps to other company or even if someone joins TCS with 8 years experienced even now they will get 10 Lakhs easily.
And now consider this last year when a 3.5 years experienced guy from a little known xyz company joined TCS the recruitment team and HR offered him a whopping 7.5 Lakhs Package for an ordinary skillset.
So you can make your calculations, and with this kind of incentive add job security fears and management attitude, best recipe for attrition.