India’s largest IT services provider company Tata Consultancy Services (TCS) had added over 100,000 employees from campus for fiscal 2021-22.
The company has announced to hire 40,000 people from the campus in the first quarter of FY23.
The company has added 35,209 employees on a net basis for the fourth quarter ended on March 31, 2022. This was the highest ever net addition in any quarter and in any year.
The total number of employees stood at 592,195 at the biggest employer in India.
Commenting on the hiring plans, N Ganapathy Subramaniam, COO, and executive director, TCS said that going forward from now, its hiring momentum will be similar to the last fiscal, “And we will start with a campus hiring number of 40,000 for the Q1 of Fy23.” he added.
In the Q4FY22 the company’s attrition was 17.4 per cent. Though the 17.4 per cent could be less than peers, which will soon announce their numbers.
For the Q4FY21 the company had reported attrition of 7.3 per cent. Even for the quarter gone by, Q3FY22, TCS attrition was 15.3 per cent.
Commenting on Q4FY22, Milind Lakkad, Global HR Head, TCS, said, “With the highest ever net addition this year, consistently highest talent retention, benchmark talent development metrics, continued focus on health and well-being and numerous industry awards, we have reaffirmed TCS’ position as the #1 employer of choice.”
Commenting on the Salary Hike, Rajesh Gopinath CEO & MD, TCS said, “Overall, we think that salary hikes will be similar from a medium perspective to what was there last year with a slightly upward bias. While there will be pressures in individual markets or individual capability side, the hiring and the pyramid rebalancing that has happened will also give significant support.”
“We have announced a salary increment with effect from April 1st similar in quantum to prior years.” He added.
