India’s largest IT Services Provider Tata Consultancy services has announced its first-quarter results ending on June 30. The company has added 14,136 employees in the April to June quarter with a total workforce of 6,06,331 employees globally and women account for 35.5 percent of TCS workforce.
Software giant kicking off the corporate earnings season — said its attrition rate further rose to 19.7 percent in the April to June quarter of the 2022-2023 financial year. In the previous quarter, TCS saw an attrition rate of 17.4 percent.
Comments on Freshers Hiring
Commenting on Hiring trends for FY23 Rajesh Gopinathan, CEO and MD of TCS said, “This quarter reflecting what we already had in the system, we’ve been a bit lighter on the one which typically has been our long term trend, Q1 is a lighter quarter for trainee absorption whereas Q2 and Q3 are the primary quarters.”
“Last year, we had gone very aggressive and hired through the year to build up more than 100,000 trainee bench. This year is more than normal. We’re progressing well on that 40,000 mark.” He added.
So, the company has planned to hire at least 40,000 freshers in FY23, which may go up to 1,00,000 like the previous financial year.
N G Subramaniam Chief Operating Officer & Executive Director, TCS said, “I think, on average, we always started with 40,000 given our size and shape of our business. But then you really look at the last year as well when we said the 40,000, but then when we went on to hire up to 100,000, our hiring engine was able to do that.”
“So, we have that ability and agility to hire talent and fortunately, we are able to attract the right talent given our brand, given the opportunities that we offer to our employees.” he added.
TCS is hiring most freshers through TCS National Qualifier Test conducted by TCS iON which is gaining traction as the preferred entry-level hiring platform for corporate India. It has made significant progress over the last year with over 900 corporate partners at the end of Q1.
Comemments on Attrition
Commenting on the Attrition challenges in IT Industry, Rajesh Gopinathan said, “Nothing different from what we saw at the beginning of the quarter. There are two things that are playing out there. One is the wage increase, which is a fairly well understood one.”
“The other is the continuing demand environment and the attrition environment that is leading to the increased operating costs on the employee side. The attrition is not totally unanticipated, but it is continuing and we think that probably it will take another few more months before it will start to come down. So, till then the margin pressures will continue but we hope to sequentially improve from where we are, given that we have taken a hit on that completely.” Rajesh added.
He further said, “Our employee rewards program is much more holistic than period-to-period one. I believe that our employee retention numbers also reflect this holistic employee engagement and total rewards program. So, we are quite confident about where we are.”
Links to Register
Below are the links for Freshers hiring in FY23
- TCS National Qualifier Test (TCS NQT) for batch 2023, Click Here
- TCS BPS Hiring for 2020, 2021 and 2022 Year of Passing (YoP) graduates, Click Here
- TCS MBA Hiring, Click Here
