4.5 Lakh TCS Employees Still Working From Home; COO Says Zero Impact On Productivity!
Majority of employees at the country’s second most profitable company and largest software major TCS continue to work from home despite the imminent vaccine rollout.
During the company’s media briefing after its third-quarter results, Chief Human Resources Officer Milind Lakkad said that 3.4% of employees are currently working out of office.
It means a whopping of 4.53 lakh employees are currently working from home as the consolidated headcount of TCS stands at 4,69,261 employees.
No Impact on Productivity, Says COO :-
The story is similar for its rivals like Infosys and Wipro, as these IT majors also have 98% of their employees working from home. When the COO of TCS was asked whether or not WFH has affected the productivity, COO N Ganapathy Subramaniam quipped, “I am also working from home and feel I am not doing much so I end up working more. There is no impact on productivity.”
Despite the October-December quarter being a seasonally weak one for IT companies due to furloughs and the holiday season, TCS has reported better than expected numbers in the same. This is evident from the third-quarter revenue which was the best in previous 9 years and also the EBIT Margins which were best in 5 years for the same period.
Rajesh Gopinathan, CEO, TCS told journalists he was very confident about 2021 and that the software major is aspiring to grow in double-digits again. Notably, the attrition rate for the organization too touched an all-time low of 7.6%.
Growing Demand For Transformational Services & Government’s Measures:-
In the earnings release, he added that “Growing demand for core transformation services and strong revenue conversion from earlier deals have driven a powerful momentum that helped us overcome seasonal headwinds and post one of our best performances in a December quarter. We are entering the new year on an optimistic note, our market position stronger than ever before, and our confidence reinforced by the continued strength in our order book and deal pipeline”.
A series of measures aimed at furthering ‘ease of doing business’ and making India a tech hub, were announced by Prime Minister Modi in November. In a move to reduce the compliance burdens of the IT and BPO industry, the Government simplified the Other Service Provider or OSP guidelines of the Telecom Department.
The government’s move to relax guidelines in order to enable IT and BPO companies to adopt permanent work from home/work from anywhere, has been lionized by the leaders of the IT and BPO industry in India. They are calling it a game-changer that could create millions of jobs in small towns and cities.