India’s largest IT Major, TCS has announced its first-quarter Q1 (quarter ending on June 30) results of July 8, 2021.
TCS reported attrition of 8.6 per cent in Q1. Although the attrition rate is the lowest among peers, it has gone up from the previous quarter’s 7.2 per cent, ending on March 31.
Recently, Accenture has announced its attrition at 17% in its third-quarter (March to May 2021) compared to 11% in the year-ago quarter.
Infosys and Wipro will announce their Q1 results on July 14 and July 15 respectively. Let’s wait for their attrition rates in the quarter ending on June 30, however, their attrition was 15.2 per cent and 12.1 per cent in the fourth quarter individually.
And in the previous quarter of FY21 Cognizant had reported an all-time high attrition rate of 21 per cent. The American IT giant will announce its Q2 results on July 28.
Employee Attrition is widely understood to be one of the major problems affecting organizations today especially in IT industries. Losing employees has many direct and indirect impacts on a company.
However, by and large, all the big IT companies expect the attrition rate to inch up in the coming quarters that is leading to a talent war.
According to experts, attrition is an important HR metric that can tell you a lot about the direction of your business and possible problems that you may need to address.
A good, average turnover/attrition rate is around 10 per cent.
Explaining the company’s Covid19 immunization drive Milind Lakkad, CHRO, TCS said that in less than two months, over half a million associates and family members and over 70 per cent of the associates had been vaccinated. ‘
’We are on track to vaccinate all TCSers and families by September,” said Lakkad.
Currently, TCS has a total headcount of 509,058. The company has crossed the 5.0 milestone in total workforce.
