TCS To Hire Over 40,000 Freshers From Indian Campuses In FY22
- ByStartupStory | July 9, 2021
Tata Consultancy Services, Largest software exporter, will be hiring more than 40,000 freshers from campuses in the country in the financial year 2021-22 , a top executive said on Friday. The Chief of global human resources Milind Lakkad told reporters The company, the largest employer in the private sector with a base of over 5 lakh employees, had hired 40,000 graduates from campuses last year and will do better on that number. He further added, “the COVID pandemic-related restrictions do not pose any difficulties in hiring and added that last year, a total of 3.60 lakh freshers had appeared for an entrance test virtually. From the campus in India, we hired 40,000 last year. We will continue to hire and hire 40,000 or more this year in India, Lakkad told reporters, adding that lateral hiring will also be robust this year. Similarly, the company will also do better on the 2,000 trainees hired from American campuses last year, he said, without sharing an exact number.”
Furthermore, Lakkad said 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. The company expects the very low attrition of 8 per cent levels to go up once the situation normalizes, adding that the normal levels are between 11-12 per cent. Even if the attrition goes up, the company’s operating model can ensure that the work or margins are not impacted, he added.
Its newly appointed chief financial officer Samir Seksaria said even though the company expects discretionary spending to normalise by the end of the fiscal, they are a small subset of its overall expenditure. There are other levers to compress costs as well, he said, stressing that structurally there are no deterrents to the aspired operating profit margin band of 26-28 per cent, which was missed in the first quarter. The company scrip closed 1.52% down at ₹3,207.75 apiece on the BSE.Meanwhile, the employee headcount at TCS crossed the 500,000 marks 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,” the Tata group firm said. “Employees logged over 10 million learning hours in Q1. Over 478,000 employees have been trained in Agile methods and over 407,000 employees have been trained on multiple new technologies.”
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