It takes a great effort to make a workplace where people like to build their careers. You need to have the right balance of a great numeration policy, awesome work culture, numerous perquisites, a high number of growth opportunities, and whatnot. And once you have achieved this mammoth task, maybe people will stick around your company. We are saying, just maybe. So, during these tumultuous times when IT talent is in high demand, we are seeing a large number of people jumping the ship. In that environment, if you can make people stick around, you might have cracked the right formula. And it seems like IT giant Tata Consultancy Services might have just cracked it.
Among IT leaders, TCS has the lowest attrition rate of 8.63%
In its results for the first quarter of the financial year, Indian IT major Tata Consultancy Services (TCS) reported an 8.6% attrition in the year gone by.
As per the report published by the company the attrition rate rose from 7.2% in the quarter ended in March 2021. Even though the attrition rate has increased from the previous quarter it is being considered as lowest in the county.
While the attrition rate of TCS has decreased year on year, the rest of the industry is seeing a reverse scenario. Another IT giant Accenture announced a rise in attrition rate from a year ago. The company had announced an attrition rate of 11% in the June 2020 quarter. That attrition rate has risen to 17% in this year during the same period. Infosys and Wipro’s attrition rates were reported to be 15.2% and 12.1% in the fourth quarter of the 2020-21 financial year.
According to TCS, its employee headcount crossed the 500,000-mark in the quarter ending June 2021. Now the company has a total workforce of 509,058.
Increase in profits as well
As the pandemic has pushed the demand for IT-related services, TCS has experienced considerable growth. In July, TCS announced a 29% rise year-on-year in quarterly profit. Between April and June, The IT giant’s net profit rose to ?9,008 crores, up from ?7,008 crores a year earlier. Revenue from operations has also seen considerable growth. It increased by 18.5% to ?45,411 crores.