Tata Consultancy Services (TCS) on Friday posted results for the second quarter of the financial year 2021-22 and the company’s attrition rate for the September quarter came in at 11.9 percent, which it said is the lowest in the industry.
“TCS’ philosophy of investing in people and its progressive workplace policies have resulted in industry-leading talent retention. IT Services attrition rate (LTM) was at 11.9%, the lowest in the industry,” the company said.
TCS added 19,690 employees on a net basis in Q2, taking its total employee base to 528,748 as of September 30. It continues to be a very diverse workforce, comprising 157 nationalities and with women making up 36.2% of the base,” the company statement added.
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The firm’s chief HR Officer Milind Lakkad said TCS onboarded a record number of 43,000 fresh graduates in the last six months. According to him, the company’s Shift-Left training strategy has helped accelerate the freshers’ deployment.
“By focusing on organic talent development and by linking learning with careers, we have kept employee satisfaction levels high,” he added.
Rajesh Gopinathan, CEO of Tata Consultancy Services, said the firm saw an advantage of proactive hiring in H2FY21 that gave it the ability to overcome supply side challenges in Q2.
He added that for FY22, the company has already crossed the earlier projected target of 43,000 onboarding freshers, the highest ever in just the first six months.
TCS expects to hire another 35,000 in H2FY22, Gopinathan said, adding that the fresher hiring target for this year has almost doubled.
Sharing an update on how TCS plans to bring its employees back to onsite work, Lakkad 70 percent of the company’s employees have been fully vaccinated and over 95 percent have received at least one dose, so the firm plans to gradually get its workforce back in the office by the end of 2021.
Tata Consultancy Services reported a net profit of Rs 9,624 crore for the quarter ended September, missing Street estimates. That marked growth of 6.8 percent compared with the previous quarter, and 28.7 percent against the three-month period ended September 2020.
India’s largest IT company posted revenue of Rs 46,867 crore for the July-September period, up 3.2 percent on a quarter-on-quarter basis and 16.8 percent on a year-on-year basis.
(Edited by : Kanishka Sarkar)
First Published: IST