The Mumbai-based IT giant Tata Consultancy Services (TCS) has confirmed that it will hire over 40,000 freshers from Indian campuses in the current fiscal year.
Trak.in has earlier this year informed its readers that TCS will be hiring about 40,000 freshers in India in FY22, continuing its hiring spree of about 40,000 freshers in FY21.
Trak.in also extensively covered the FY21 fourth quarter results and performances of India’s top three IT services, Infosys, Wipro and TCS.
The company’s chief of global human resources, Milind Lakkad has also added the pandemic-induced lockdown has not come in the way of fresher hirings, as a total of 3.60 lakh freshers appeared for TCS’ entrance test online.
TCS to Hire 40,000+ Freshers
In FY21, TCS hired about 40,000 freshers and according to Lakkad, 2021 will see more number of hirings from Indian campuses.
Along with fresher hirings, TCS will also conduct a healthy number of lateral hirings in this season.
As per a PTI report, Lakkad was quoted saying that a lot of planning goes into hiring from campuses and it is not ‘just-in-time’ hiring when a business deal gets signed up, and typically it takes over three months before a resource gets on a project.
Compared to its competitors, Infosys and Wipro, TCS reported the lowest attrition rate in Q4 FY21, of only 7.2% when Infosys’ attrition rate touched its peak at 15.2% and Wipro at 12.1%.
In fact, in Q4FY21 alone, the company added 19,388 employees, its highest ever addition in any quarter, taking the total additions in the year to 40,185.
Lakkad has also informed that while TCS is operating at a very low attrition rate of almost 8% currently, it can rise to its normal levels at 11-12% once the pandemic normalises.
However, he ensures that even then the company’s operating model will continue to maintain its work and margins.
It has also been reported that the employee headcount at TCS crossed the 500,000 mark in the June quarter, with a total workforce of 509,058 as of 30 June. TCS saw a net addition of 20,409, its highest quarterly net addition ever.
“The workforce continues to be very diverse, comprising 155 nationalities and with women making up 36.2% of the workforce,” added the Tata Group.