Honouring all job offers, says TCS

Net employee addition in FY23 78% lower than FY22

job, TCS
The IT major will also pay 100% of the variable pay for the quarter, even as it has decided to provide a 12-15% hike to high performers.

Tata Consultancy Services (TCS) on Wednesday said it is honouring all job offers and has added 22,600 employees on a net basis in FY23. However, the net employee addition was 78% lower than FY22.“During the year, we onboarded over 44,000 freshers and our highest-ever number of experienced professionals. We also doubled down on organic talent development, obtaining over 53,000 cloud certifications during the year, bringing the total to over 110,000 employees certified on hyperscaler platforms. This places us among the top two partners for the largest cloud providers,” Milind Lakkad, chief HR officer, said.

“TCS has been disciplined in our headcount addition,” CEO Rajesh Gopinathan said.On onboarding of fresh employees, Lakkad said there may have been some delay for one or two months, the company has honoured all the offers and will continue to do so throughout the year.  During the January-March quarter, the company added 821 employees, taking its total workforce strength to 614,795. IT services attrition on a last 12 months (LTM) basis continued to trend down and was at 20.01%. It was at 21.3% in the preceding quarter. 

“If you look at quarterly annualised attrition, our attrition rate has come down by 4.2% from last quarter to this quarter. For the future, I expect it to come down to pre-pandemic levels in the second half of this year,” Lakkad said.During Q4, TCS saw net addition of 821 employees, compared to the preceding quarter when it saw a net drop of 2,197.On hiring target for FY24, Lakkad, said: “The number 40,000 stands. In fact, we just concluded our nationally qualified test, and we had 600,000 plus people appearing in the test. We have so far issued 46,000 offers.”The Tata group company had added 40,185 employees on a net basis in FY21, while that in FY20 it was 24,179 in and 29,287 in FY19.TCS has a diverse workforce of 150 nationalities and women making up 35.7% of the total base.

The IT major will also pay 100% of the variable pay for the quarter, even as it has decided to provide a 12-15% hike to high performers. For others, the hikes would be in the range of 8%, 5% and 1.5%.As on December 31, 2022, the company had applied for 7,134 patents, including 212 applied during the quarter, and been granted 2,694 patents, including 134 during the quarter.

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First published on: 13-04-2023 at 03:20 IST