Despite Tata Consultancy Services (TCS) remaining the country’s largest IT services exporter by quite a distance, the company’s annual attrition level stood at 14.9% in FY15 — its highest in the last decade, according to the company’s latest annual report.
The total number of employees at TCS stood at 319,656 people at the end of March 31, 2015. In the year, the company made a net addition of 19,192 employees and a gross addition of 67,123 employees.
While TCS lost 14.9% of its workforce in FY15, the company lost a total of 47,931 employees in the year, and over 13,000 of whom came in the fourth quarter itself.
The company’s attrition level in the last decade stood as follows — 11.3% (FY14), 10.6% (FY13), 12.2% (FY12), 14.4%(FY 11), 11.8% (FY10), 11.4%(FY09), 12.6% (FY08), 9.9% (FY07), 6.5% (FY06).
TCS’s global head and vice-president for human resources, Ajoy Mukherjee, attributes this attrition to a buoyant job market. “It (attrition) has been primarily because of the sectoral trend. The number of opportunities that are there (have been rising) and everybody is hiring. In fact, we also hired 67,000 people at this point during this year,” TCS’s Ajoy Mukherjee told analyst in June.