Tata Consultancy Services, popularly known as TCS, the company that flourished under the aegis of Ratan Tata, is recruiting 28,000 freshers this year. This is the highest number of recruits that the company will do in the last 3 years, clearly indicating an increased demand for services in pipeline.
In the last two years, TCS has hired 20,000 freshers every year. Speaking about the increased demand for freshers this year, Ajoy Mukherjee, executive VP and head of global human resources at TCS said, “We are seeing good demand in terms of business and growth. We have already hired 16,000 people in the first half of the year.”
The September quarter saw an addition of the highest number of people, 10,227, which is the highest in the last 12 quarters. With such huge numbers of recruitment, the attrition rate stands at 10.9 per cent, which is relatively low. With the statistics present, CEO Rajesh Gopinathan mentioned that the talent retention at the company. Given that, the new hiring that will be done by the company will be fresh and not to fill up the gaps at the company.
The two sectors, BFSI (banking, financial services and insurance) and retail, which had been weak till now, are picking up and hence the increase in demand for new talent.
TCS has given 100 per cent quarterly variable allowance (QVA) to the employees for the September quarter. In an email to the employees, Mukherjee mentioned that the individual payout for the grades equivalent to C3A (mid-level) and above may vary depending on the business unit and performance. The November payroll will reflect the QVA. IN the last four quarters as well, TCS has offered 100 per cent or higher variable payouts.
The onsite hiring for the company has so far been successful. “We want to highlight our journey on multi-location agile teams. TCS follows a location-independent agile strategy. We are hiring onsite and our hiring has been net positive,” said Mukherjee. When enquired about increasing the compensation for regular entry-level hires, Mukherjee said it was too early to say.