TCS Earned Rs 100 Crore/Day In Last 90 Days; Crosses 5 Lakh Employees!
TCS said that it received a 28.5% hike in profits amounting to Rs 9,008 crore for the first quarter ended June 30, 2021.
The nation’s largest software services firm had received a consolidated profit of Rs 7,008 crore in the same quarter a year ago.
Its workforce has also increased and has crossed the 5 lakh mark.
The total number of employees now stands at 5,09,058 with the highest-ever quarterly net addition of 20,409 people.
This is an increase of 17.3% year-on-year.
Women now comprise 36.2% of the staff
Attrition rate is at 8.6%.
Chief HR Officer Milind Lakkad said that the attrition rate is artificial given that TCS generally has a rate of 11-12%.
Furthermore, in high demand environments it has gone up to 13-14%, and it is part of the company’s operating model.
It had also earlier announced plans to hire 40,000 freshers, primarily in the first and second quarter of FY22.
Chief Executive Officer and Managing Director Rajesh Gopinathan said that the employees have displayed great character by being there for each other, serving the community and delivering on performance.
Growth Despite Pandemic
The good fortune continues as it has also expanded its business in North America, Banking, financial services and insurance and Retail.
The growth is attributed to the resilience of the company’s operating model, relevance of its offerings and finally the passion and dedication of its associates.
Gopinathan said that the company is also keeping track of the constantly evolving situation of the pandemic and its looming third wave.
Despite being cautious, it is also optimistic regarding opportunities in core markets and verticals.
Private Vaccination Drive
It has added another feather in its cap by arranging one of the largest vaccination drives in the private sector.
Over five lakh associates and their family members have been vaccinated, including 70% of their associates.
Lakkad said that the firm is dedicated to taking into account its workers’ health and wellbeing.
To that effect, it has prioritised vaccinating all associates, their dependents and contract staff.
Transition To New Working Model
It has future plans of executing its ‘25 by 25 model’ which involves 75% of employees at any point working from home by 2025, and only 25% in office.
COO NG Subramanian said that in order to make the plan a reality, a certain chunk of the workforce will have to return to the workforce and will operate under a hybrid work model.
The model will likely remain in place for a longer duration.
He added that Tata’s proprietary SBWS (secure borderless workspaces) model will lay the foundation for a hybrid model of the future.