TCS is stressing on the work from office policy and the CEO and MD of the company, K Krithivasan, is quite confident about its success.
As of now, 65% of TCS employees are attending office 3 to 5 days a week.
Read on to find out all the details!
TCS’s CEO and MD K Krithivasan Expresses Confidence in Return To Office Policy
TCS introduced the return to office initiative around four months ago, and 65% of employees of the company are attending the office for 3 to 5 days a week.
As per Krithivasan, the return to office approach will offer employees the best value and also preserve the “organisational culture.” He also stated that positive incentives will encourage employees to return to the office within the next couple of quarters.
This return to office policy is a shift from TCS’ 25X25 vision. In this policy, TCS expected that 25 percent of its employees will need to work out of its facilities by the year 2025. This policy was announced in 2020.
TCS Ends Work From Office; Decrease in Headcount
However, in October 2023, TCS ended work from home for most employees and introduced a new five-day office week. The company also issued dress codes for in-office employees.
This resulted in a decrease in the headcount at TCS by 5680 in the third quarter, and this was the second consecutive quarter of decline.
In the third quarter, the attrition rate improved to 13.3%, which was 14.9% in the second quarter. This was credited to multiple factors like market demand, internal deployment, and automation.
In the third quarter, TCS’ reported earnings of net profit of Rs 11,058 crore, a 2% YoY increase. Additionally, the consolidated revenue rose 4% YoY to Rs. 60,583 crore.
In the third quarter, TCS’s deal total contract value was $8.1 billion.
Recently, we reported that India’s top IT services firms Tata Consultancy Services (TCS) and Infosys reported a sharp decline of over 11,000 employees in the October-December 2022 quarter even as attrition rates dropped.
