TCS workforce crosses 600K milestone, attrition rate rises
India’s largest information technology (IT) services firm Tata Consultancy Services (TCS) on Friday said its workforce stood at 606,331 as of 30 June, a net addition of 14,136 in the quarter.
The workforce continues to be very diverse, comprising 153 nationalities and with women making up 35.5% of the base, the company said in a statement.
“Our investment in strategic talent development initiatives and the linking of learning to career development have energised our workforce. Following our annual compensation review, employees received salary increases of 5% to 8%, with top performers getting even bigger hikes,” said Milind Lakkad, chief HR officer, TCS.
“Our empowering, performance-driven work culture is helping us attract local talent across all our key markets. Continued hiring momentum resulted in a milestone quarter, with the employee strength crossing the 600,000 mark,” he added.
The company gradually accelerated its return-to-office program in Q1, with about 20% of the workforce now working from office.
Despite the increase in workforce size, however, IT services attrition rose to 19.7% based on figures from the past 12 months.
"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, helped manage the talent turnover with minimum impact on our operations," said N Ganapathy Subramaniam, chief operating officer and executive director, TCS.
"During the quarter, we resumed in-person meetings, and hosted several clients at our facilities. We are bringing in more of our associates back to our development centres, and it is steadily increasing at all levels."
The company said that it continues to invest in organic talent development as part of its expansion into the growth and transformation opportunity. In Q1, TCSers clocked in 12 million learning hours, resulting in the acquisition of 1.7 million competencies.