1 Lakh TCS Employees Are Now Working From Office; TCS Accelerates Plan To End Work From Home For 6 Lakh Employees
Indian IT major, Tata Consultancy Services(TCS) has gradually accelerated its return to office program for the first quarter ending June 30, 2022 (Q1FY23).
TCS Return To Office Program
Reportedly, almost 20% of the company’s workforce is now working from the office.
It appears that the service provider has gradually accelerated its return to office program in Q1.
Presently, about 20% of the workforce is working from office, as per TCS in its result filing.
The company’s attrition was 19.7% on the last twelve months basis, in the quarter under review.
Coming to the total employees strength, TCS has touched a milestone with employees headcount crossing the 6 lakh mark.
With a net addition of 14,136 during the quarter, the IT firm’s headcount stood at 606,331 as of June 31, 2022.
Further, the workforce continues to be very diverse, comprising 153 nationalities and with women making up 35.5% of the base.
TCS Bringing Associates Back
The Chief Operating Officer, and Executive Director, N Ganapathy Subramaniam said, “We are pleased with our execution during the quarter wherein we successfully delivered several transformation programs. The investments we made on people, upskilling efforts, and select lateral hiring et al helped manage the talent turnover with minimum impact on our operations,” on the quarterly result.
Further adding, “During the quarter, we have resumed in-person meetings and hosted several clients at our facilities. We are bringing in more of our associates back to our development centers, and it is steadily increasing at all levels,”.
“On the sustainability front, we have signed our commitment to SBTi version 5 standards during the quarter and are making steady progress towards our net-zero journey with tremendous alignment to this initiative across our associates,” said Subramaniam.
In the meantime, Chief HR Officer of TCS, Milind Lakkad said, “our investment in strategic talent development initiatives and the linking of learning to career development have energized our workforce. Following our annual compensation review, employees received salary increases of 5 to 8%, with top performers getting even bigger hikes.”
The TCS employees’ costs stood at Rs 30,327 crore in Q1FY23, rising from Rs 25,649 crore in the same quarter last year.
TCS recorded a consolidated net profit of Rs 9,519 crore in Q1FY23 up from Rs 9,031 crore in the same quarter last year.
At the same time, Q1 PAT declined compared to Rs 9,959 crore in the previous quarter.
Coming to the consolidated revenue, it climbed to Rs 52,758 crore up from Rs 45,411 crore in Q1FY22 and Rs 50,591 crore in Q4FY22.