Last week, when the employees of TCS opened their appraisal letters, it was with little anticipation. For most of the mid-level employees, the hike was flat—at 6%. At a time when the standard raise has been 3-6%, no thanks to the falling revenue growth, not many complained. But a few discerning employees noticed that something was a bit off. The compensation structure had changed. As they went through their letters, making calculations in their minds, they realised the company had increased their quarterly variable allowance—the part of the salary that depends on performance and profitability of the…
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