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TCS jobs: Record 28,238 hirings in third quarter & 1.1 lakh promotions; attrition 15.3%

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TCS also handed out a record 1,10,000 promotions in the nine months of this fiscal, with a further 40,000 planned for the final quarter of the 2021-22 fiscal. 

TCS jobs: Record 28,238 hirings in third quarter & 1.1 lakh promotions; attrition 15.3%
Tata Consultancy Services (TCS), which released its quarterly earnings report today, posted a confident headcount report, claiming its hiring engine fired "on all cylinders, supported by strong brand pull".
According to the earnings report, TCS--the country's largest Information Technology services provider--said it hired 28,238 people in the third quarter of the ongoing fiscal, the highest ever added in a single quarter.
The company boasted that it currently has a total strength of 5,56,986, including 2,00,271--or over 36 percent-- women. The company also said there was a 68 percent growth in woman at senior levels in the past five years. Further, TCS said 156 nationalities were represented in its workforce.
"Our approach has been to build leadership from within and we’re happy to report that we’re closer to the halfway mark with 44% women associates among the junior cadre," the company said in the report.

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Per the report, TCS handed out a record 1,10,000 promotions in the nine months of this fiscal, with a further 40,000 planned for the final quarter of FY22.
The company said it hired 43,000 freshers in the first half of FY22, and that it will hire a further 34,000 by the end of the financial year. As per the earnings report, TCS hired 34,000 freshers just in the latest quarter.
The IT services giant reported an attrition rate of 15.3 percent, which it claimed was lower than industry standards. The company said it is seeing signs of attrition bottoming out. Its competition, such as Infosys and Wipro, both reported attrition levels of over 20 percent.


“Our sustained investment in our talent has helped us power strong growth despite a challenging supply environment. We remain focused on long-term talent development as well as on tactical measures to mitigate the talent churn. We have exercised various operating levers in Q3 to mitigate the higher costs and manage our employee expense," said Samir Seksaria, Chief Financial Officer, TCS.
The company reported EBIT of 25 percent, with margins impacted by increased focus on hiring and retention of talent. "This quarter has been an example of sheer focus on investing in our talent, which has reflected in our attrition figure coming in well below industry benchmarks. Retention has been powered by improved rewards & recognition & a record 1,10,000 promotions," said TCS.
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