Though a second round of wage hike is not a possibility, vice-president & head for global human resources, Ajoy Mukherjee, feels the strengthening of people management and training will improve retention levels.
For instance, the firm will bring about a rotation of employees for on-site locations. With the decrease in on-site opportunities, we intend to rotate employees so that more people get a chance to be at the clients locations, Mukherjee said. There has to be a stress on aspirations and we have to ensure that business and HR work together to do that.
The industry, at the moment, is witnessing the experienced band of about 3 6 years contributing to the majority of the attrition rate. The RMG will also identify individuals that are keen on having newer challenging jobs. The experienced employees have different aspirations and wage is not necessarily a reason for an employee to quit. For the IT industry, it is increasingly becoming an aspect of having a challenging job. And so, we would want to retain such employees by moving them to such projects, he said.
The firm also intends to translate a number of freebies into beneficial spends like increase in premium of health insurance and extra hospital coverage. TCS may look at paying additional variable components if the company continues to perform better. With demand picking up, it could be a challenge for TCS to support a sudden surge in employee requirements. The firm has a high utilisation level of about 82.6% (excluding trainees) and has not been able to attract huge additions. Of the 10,849 offers made in Q1, the firm had a net addition of only 3,271. It has hiked overall hiring requirements to 40,000 for the year from 30,000.