India’s largest IT giant, Tata Consultancy Services (TCS) plans to hire around 40,000 freshers this financial year.
Hiring will be slightly below that in FY23, TCS has onboarded over 44,000 freshers in FY23 and its highest-ever number of experienced professionals.
TCS CHRO said, “Hiring will be on the lower side, but that doesn’t mean that we are going to stop hiring trainees or we are going to stop honouring offers.”
“We will continue to hire trainees, the current number (freshers’ hiring target for FY24) stands at 40,000,” he added.
Earlier, Milind Lakkad, Chief HR Officer, 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 capture 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 44K freshers and our highest-ever number of experienced professionals”, Milind Lakkad added.
Milind Lakkad further added, “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 now started onboarding some of the lateral hires whose onboarding was earlier delayed for 3 months.
In an email to the employees the company said, “As you commence your new journey, we are glad to invite you to attend the in-person TCS onboarding programme scheduled for July 17 (Monday).”
The TCS employees who cleared the background verification process have been onboarded. Additionally, the company emphasized critical examination in order to remove fake resumes during the induction process.
TCS’s this quarter workforce strength is 615,318. The company’s net headcount addition of 523 and the contribution of women in the workforce is 35.8%.
The company’s headcount as of March 31, 2023, stood at 6,14,795. TCS headcount stood at 613,974 as on December 31, 2022.
However, The company has announced a salary hike for its employees, despite the 200-bps impact on the company’s operating margin.
TCS CFO Samir Seksaria said, “The annual pay hikes effective from April 1, would result in a 200-basis-point hit on the operating margin, which currently stands at 23.2%.”
“The company has given a 12-15% raise for exceptional performers in the latest annual compensation review”, he added.
