New Record of TCS: To Add over 1 Lakh freshers in FY 2022, 40000 to Hire for FY 23.According to TCS figures, employee headcount reached 5,92,195, an all-time high, with a net addition of 1,03,546 during the year.
In the Financial Year 2021-22, Tata Consultancy Services (TCS) hired over one lakh people, the most ever by the IT powerhouse. TCS added around 35,000 people in the fourth quarter of fiscal 2021-22, according to a BSE filing.
TCS claimed in a BSE filing while releasing its Q4 results that it added 35,209 personnel on a net basis in Q4, the highest ever net addition in a quarter.
According to TCS figures, employee headcount reached 5,92,195, an all-time high, with a net addition of 1,03,546 during the year.
TCS hired about 78,000 freshers in FY22, up from 40,000 the previous year. Attrition, on the other hand, is a source of concern for the company. Attrition grew to 17.4 percent in the third quarter, up from 8.6 percent at the start of the year and 11.9 percent in the fourth quarter of 2021.
TCS noted that the workforce is still relatively diverse, with 153 nationalities represented and women accounting for 35.6 percent of the workforce.
In an era of growing churn, the company’s concept of investing in people and progressive workplace rules have resulted in industry-leading retention. Attrition in the IT services industry has risen to 17.4%. TCS claimed, however, that incremental attrition has slowed.
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“TCS’ focus on organic talent development continues to produce best in class outcomes. In Q4, TCSers logged 22 million learning hours. For the full year, the company’s investments in learning and development resulted in the workforce acquiring 3.5 million digital competencies. The number of Contextual Masters crossed 50,000 another key milestone in the journey to scale growth and transformation capabilities within the organization,” TCS stated.
TCS’s revenue for the quarter ending March 2022 was Rs 50,591 crore, up 15.8% year on year (YoY). The company’s revenue for the fiscal year was Rs 191,754 crore, rising 16.8% from the previous year. In addition, the corporation generated record incremental sales of $3.5 billion.
“We are concluding FY 22 on a good note, with mid-teen growth and adding the most incremental revenue ever,” Rajesh Gopinathan, Chief Executive Officer and Managing Director, said in a statement. An all-time high order book, as well as increased participation in our customers’ growth and transformation journeys, create a strong and sustainable foundation for future success.”
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