TCS: 100000+ Employees Resigned in last One Year!!! Tata Consultancy Services (TCS) is an Indian multinational information technology (IT) services and consulting company with its headquarters in Mumbai. It is a part of the Tata Group and operates in 149 locations across 46 countries. In July 2022, it was reported that TCS had crossed 6 lakh or 600,000 Employees worldwide. Now,14000 Newbies Recruited. 100000+ Employees Resigned in last One Year&14000 Newbies Recruited by Tata Consultancy Service. Check details below.
TCS management claimed that the firm has a sufficient number of employees to manage demand and that, if necessary, it can quickly ramp up its headcount. In FY22, the company had set a hiring target of 40,000 and concluded the year by adding 100,000 freshers. Chief Operating Officer and Executive Director N Ganapathy Subramaniam stated that typically in Q1, TCS hires more laterals as contracts are in ramp up roles.
According to Chief HR Officer MilindLakkad, the company’s hiring momentum has persisted, and its “empowering, performance-driven work culture” has helped it draw in local talent. Investing in strategic talent development efforts and connecting learning to career advancement, according to him, have energised the company’s personnel.Employee wage increases ranged from 5-8 percent, with top achievers receiving even larger raises.
Additionally, it added 14,136 net new employees throughout the course of the quarter. This is crucial because many people consider net staff growth to be a leading indicator of future demand. But compared to the 35,209 employees in the previous quarter, this number is significantly lower.
- In the past year, the attrition rate at IT behemoth TCS has increased to 19.7 percent.
- This quarter, it is the highest in the previous six.
- The rate was 17.4% in the March quarter.
According to TCS CEO Rajesh Gopinathan, attrition needs to be taken into account in terms of seasonality. The amount of junior employees quitting for further education is also counted in the company’s attrition. He did acknowledge that attrition has not yet flattened and that it will in the second half when the firm will see “meaningful moderation” of it. Gopinathan added that both the supply and demand side are easing up with talent coming from outside the immediate industry.
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