The information technology (IT) services and consulting company, TCS chief human resources officer (CHRO) Milind Lakkad has explained why freshers are hired at low salaries.
However, as there has been rising inflation and on the other hand there has been growth in the Indian IT sector but the fresher’s salaries have remained around Rs. 3-4 lakh per annum for years.
The CNBC-TV18 report suggested that TCS CHRO Milind Lakkad said, “The freshers and existing employees who upskill can potentially double their salaries, with some skills earning up to Rs. 10 lakh.”
“We are paying based on the talent and we encourage people to come at different cadres of talent coming in”, he added.
“We have almost very close to Rs. 10 lakh for innovators. We are hiring people from NIITs and IITs where we pay a lot more”, he explained.
Commenting on the starting salary for freshers, he told to CNBC, “It’s the same as it has been for the past many years. He believes the point is, that once they join, they must understand the path to take. “You take this path, your salary will double.”
While commenting on Q3FY24 results, on hiring, Milind Lakkad, CHRO, TCS said that the company will hire from college campuses and grow talent organically.
Milind further said, “The vibrancy and energy levels in our offices are increasing as more and more of our employees are back in the offices. We expect to be back to our normal operating mode by the end of the current fiscal year. Parallelly, attrition is trending down and at 13.3%, is now in our range of comfort.”
“We are committed to hiring from college campuses and growing talent organically. We have commenced our campus hiring process for the next year and see tremendous excitement among freshers to join TCS”, he added.
TCS headcount dropped by 5,680 employees workforce stood at 603,305 as of December 31st with attrition at 13.3% for the last twelve months. The company’s workforce stood at 608,985 as of September 30, reported a dip of 6333 employees from the last quarter.
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