TCS Launches Mega Hiring Drive: 40,000 Freshers To Be Hired Directly From Campuses
TCS announced its plans to hire 40,000 candidates directly from campuses in the coming months.
Expanding Workforce And Profits
It onboarded 19,690 employees in the previous quarter, taking the total workforce strength to 528,748- 36.2% of which are women.
The company also posted record profits for the second quarter of the ongoing financial year.
It achieved a revenue growth of 3.2% quarter-on-quarter to Rs 46,867 crore in the September quarter.
Need People For Projects
However, it currently faces a war for talent against other IT companies and tech startups.
It also needs to keep hiring in large volumes in order to execute the 14 new deals it has signed in the last 3 months, reflecting growing demand from global customers.
Attrition rate increased to 11.9% in July-September quarter from 8.60% in April-June period.
This is a concerning figure compared to the average attrition rate of 8.67% in the IT industry for the September quarter.
Chief HR Officer Milind Lakkad said that high attrition will continue for the next two to three quarters.
Therefore, in the face of an ever increasing demand for IT talent along with concerning attrition levels, the firm has to ramp up its hiring efforts.
In the first half of FY22, the company hired 43,000 fresh graduates surpassing the target announced in July.
The figure is its highest ever intake of freshers in a six-month period.
It will hire a further 35,000 individuals in the next six months.
This sums up to the recruitment of a total of 78,000 fresh graduates by the end of the FY22 if it meets its target.
Honing Its Own Talent
Lakkad spoke about the company’s strategy of proactively investing in building up its own talent.
This has helped it “overcome supply-side challenges, and meet the execution timelines of [its] customers’ growth and transformation programs”.
By turning its focus inward on organic talent development and training, it has also managed to keep employee satisfaction levels high.
Office Return By Year End?
Lakkad added that 70% of its employees are now fully vaccinated and 95% with at least one dose.
It is gearing up to call back its workers to offices by the end of this year.
Fully vaccinated senior level employees have already been invited to rejoin offices.