Posted by TCS will hire an additional 10–12k freshmen this year despite a 21% attrition rate.
As attrition rate continues over 20%, IT behemoth Tata Consultancy Services (TCS) stated it was prepared to employ at least 10,000 to 12,000 freshers in the current year in addition to the 35,000 it has hired up through September 30.
TCS released its financial results for the three months that concluded on September 30 on Monday. In the past year, the company’s IT Services division saw an attrition rate of 21.5%. (LTM). Despite the fact that the attrition may slow down in the upcoming quarters, senior executives predicted that it will still exceed the company’s objective.
“Attrition must decrease to 20% over the course of at least four quarters. However, the overall number of employees quitting the business would drop dramatically, according to TCS Chief Human Resources Officer Milind Lakkad.
TCS intends to increase the quality of its staff by bringing on fresh talent and preparing them for the productivity required to meet demand.
“Over the past two quarters, we have hired 35,000 campus freshmen. Out of this, 20,000 people were employed just in the second quarter. We have spent the last six to nine months developing our skills and adding a few new employees from the market, according to Lakkad. He continued by saying that the business last year hired over 119,000 immigrants from the school.
Lakkad said that one-third of the staff worked from the office at least twice a week when questioned about the work arrangement. He stated that there will be an increase in the number of workers showing up at the office. Moonlighting, according to Lakkad, is unethical and goes against TCS’s fundamental beliefs and ethos. Our policy is being explained to the staff.