Monday, September 8, 2025
spot_img

TCS CHRO: Expect attrition to drop close to 12-13% by H2FY24

spot_img
- Advertisement -

According to the reports, Tata Consultancy Services Chief Human Resources Officer Milind Lakkad (TCS CHRO) expects the attrition to drop close to 12-13% by H2FY24.

The attrition for every quarter has seen a deep fall to 20.1 percent, continuing its downward trend from last quarter’s. TCS has reported attrition in Q3FY23 stood at 21.3 percent, a slight decline from 21.5 percent in Q2FY23 on a last-twelve-month basis. 

According to Moneycontrol, Milind Lakkad said, “We want to go down to our original levels. So 12-13 percent is the band that we are comfortable with… I know my numbers will really come back close to this range.”

“We expect to reach pre-pandemic number levels in the second half of this year”, he added.

Milind Lakkad further said, “As we grow the TCS family, I want to call out the stellar role played by our recruitment team in swiftly scaling up hiring, and onboarding the best available talent, enabling TCS to meet its delivery commitments and capturing growth.”

“We are honoring all job offers, and have added 22,600 employees on a net basis in FY 23. During the year, we onboarded over 44000 freshers and our highest-ever number of experienced professionals”, Milind Lakkad added.

Milind Lakkad further said, “We also doubled down on organic talent development, obtaining over 53K cloud certifications during the year, bringing the total to over 110K employees certified on hyper scaler platforms. This places us among the top 2 partners for the largest cloud providers.”

The company has started to slow down hiring and focus on improving employee utilization rates. The company added 22,600 employees during FY23. There has been a steep decrease as compared to its net addition in FY22. In the previous year, it had added 103,546 employees on a net basis.

The hiring is down by 78%. This is the company’s lowest net headcount addition since FY15 when it added 19,000 employees on a net basis during the year.

Additionally, It is expected that the top performers of TCS will receive a 12-15 percent salary hike. The company employees are expected to get a 100 percent variable payout for the recent quarter.

spot_img

Editorial

Why TCS Deferred FY25 Salary Hike: Better Hike Ahead?

TCS had initially announced its annual salary hike during...

Deloitte, PWC, EY, KPMG to Hire 1 Lakh People in India in FY25

According to estimates from top company officials and industry...

Higher EPS Pension Application Stuck: A Step-by-Step Guide to Fix

Nearly 97,640 Provident Fund (PF) members and pensioners under...

Employee Benefits at India’s Big 4 Firms Deloitte, PwC , EY, KPMG

The Big 4 firms; Deloitte, PwC (PricewaterhouseCoopers), EY (Ernst...

TCS Announces 4-8% Salary Hike for FY25, Lowest in Last 4 Years

Tata Consultancy Services (TCS), India's largest IT services provider,...

Must Read

Deepti Kapoor, CHRO, Cushman and Wakefield on HR Tech 2025

Deepti Kapoor is the Head of People & Culture...

Instacart Acquires Over 250 Patents From IBM

Instacart Acquires Over 250 Patents From IBM IBM and Instacart,...

Winning People Development Strategies

The term ‘People Development’ is often used casually within...

Tech Mahindra ropes in Infosys veteran Richard Lobo as CHRO

An Indian multinational information technology services and consulting company, Tech...

PwC is hiring for 2000+ roles; WFO jobs, Intern/Trainee; Apply Now

An accounting and professional services multinational company, PricewaterhouseCoopers (PwC) is hiring for...

NITI Aayog Invites Applications for Internship Programme

NITI Aayog, the Government of India’s apex public policy...

Mswipe Technologies announces key appointments

Leading digital payments and financial solutions company, Mswipe Technologies...

Genies pay Rs 2L/m for ChatGPT, Samsung bans staff from using it

AI tools have captured the public imagination for their...

Related Articles

SightsIn Plus
SightsIn Plushttps://sightsinplus.com/
SightsIn Plus is an India’s leading high-quality people-focused monthly HR Magazine and provides up-to-date HR News, Leadership Announcements, Best HR Practices and Insights by Global CHROs, CEOs, HR Advisors, Business Managers and HR Heads on topics of interest to HR professionals. To subscribe SightsIn Plus, HR Magazine please visit- https://sightsinplus.com/subscribe/