By Surabhi Shaurya | Updated: October 13, 2022 9:29 AM IST
Several IT firms have made a big announcement regarding variable pay of the employees. Bringing out their festive cheer early, companies like TCS and Wipro have shared that more that 70% of their staff will receive 100 per cent variable pay. Take a look at the list of companies that have announced 100% variable pay for their employees in the Q2 (July-September).
Thierry Delaporte, CEO and Managing Director of Wipro said the company will pay out 100 per cent of variable pay to 85 per cent of its employees for the second quarter of financial year 2023.
Bringing out their festive cheer early, TCS shared that 70 per cent of the staff will receive 100 per cent variable pay. Moreover, the remaining 30 per cent will get paid based on their business unit performance.
Infosys, on the other hand, has reportely decided to reduce the average variable payout of employees to 70 per cent due to falling operating margins in the first quarter of 2022-23.
The company said whether it is appraisals in this cycle or managing variable pay even in tough times, the company has stayed on course and stuck to its policy. There has been no change in the company's approach to variable pay or, for that matter, annual compensation review.