50% TCS Employees Want To Return To Office & End WFH; 90% TCS Employees Will Work From Office Now?
After 18 months of working remotely, Tata Consultancy Services (TCS) is bringing its employees back to the office.
500,000 of its employees are being brought back to offices now that 90% of the staff has received at least one dose of vaccination.
Chief Operating Officer NG Subramaniam says that half of the staff are in favor of returning to offices.
Amidst ease of pandemic induced restrictions, Infosys and Wipro are also looking to bring their employees back.
TCS will initially ask 80-90% of its employees to return.
Eventually, it will turn to a hybrid model under which only 25% of its staff will work from office by 2025, which it calls its Vision 25×25.
Hybrid Here To Stay
The situation is still precarious given the looming threat of the contagion’s third wave.
However, one certainty is that hybrid or flexible models will not be scrapped anytime soon.
Companies use the term varyingly, however one commonality is that it will have people working from different locations with flexible hours.
Real Estate And Ancillary Industries Suffer
Supporting industries such as real estate and hospitality are looking at tough times ahead.
As more and more staff opt to work remotely, the requirement of commercial real estate keeps declining.
The IT sector accounts for 40% of India’s office leases.
Some companies have canceled their leases, and others considering long-term needs means the future demand will likely be 40% below pre-pandemic levels.
Other businesses, which hinge on the employees coming back to campuses, such as food and beverage, hospitality, retail and maintenance are also dealt a massive blow.
Talent Shifted To Cloud
Earlier, India was a major offshore destination.
Now with the switch to remote work, talent is being sourced across the world and is not limited to certain locations.
TCS’ Mr Subramaniam is calling this “cloud-shoring”, a concept the future of software services will rest on.
Using cloud technology, TCS wants to build the world’s largest distributed virtual talent marketplace.
Certain roles will require in-office work.
TCS will also continue physical recruitment.
In the UK, where it has become the largest IT services company, it will hire 1,500 people including 500 local graduates this year.
In the US, it will create 5,000 jobs.
Subramaniam says that TCS will continue hiring wherever it is located and will not shift its dependence to cloud.