TCS to dole out hikes for staff, recruit 30,000 next fiscal

Tata Consultancy Services (TCS) will be effecting a wage hike for its employees in the wake of the turnaround in the IT sector.
TCS Chief Financial Officer and Executive Director S. Mahalingam told reporters that the company would stick to its earlier statement that it would be announcing increments around April.

The last salary increment was given to TCS staff in April 2008. Asked whether the high attrition rate was back to haunt the IT industry, he said the company's current rate was 11.5 per cent.

While compensation was certainly a factor for attrition, he, however, felt that the wage hike alone was not a factor to address it. Several other work related incentives, challenging assignments and other HR related factors were also important, he said.
“We will be recruiting 30,000 people in the next fiscal. At the moment, the market has talented people and therefore it should not be difficult to hire,'' he said.

Mr. Mahalingam said TCS was now focusing on emerging markets like Brazil.