Tata Consultancy Services has already hired about 50,000 personnel by the third quarter, almost achieving its target for the financial year.
“Our target for this fiscal was 50,000 personnel, and we have so far hired 49,600, almost meeting our target. We continue to forecast a healthy growth in the workforce numbers going forward,” Executive Vice-President and Global Head for Human Resources AjoyMukherjee said.
TCS’ overall attrition rate, or employees leaving the firm, including that for outsourcing business, stood at 11.2 per cent. The attrition for IT services fell to 9.8 per cent, which was the “best in the industry and a significant achievement” for the company, said Mukherjee.
Campus hiring
TCS will stick to its plans of hiring 25,000 new employees from campuses. Of these, about 24,000 offer letters have been already rolled out as of the December quarter. The new employees would be joining the company in July. This quarter, TCS saw a gross addition of 17,145 personnel taking its total employee count to 2,63,637. This includes 9,831 trainees and 5,072 laterals in India and 2,242 employees across international locations. The net addition this quarter stood at 9,561 employees.
The utilisation rate (excluding trainees) during this quarter was at 81.7 per cent. “There is scope for expansion on the utilisation front. We have always been comfortable with 81-83 per cent utilisation rate,” said TCS Chief Executive Officer and Managing Director N. Chandrasekaran.
The Mumbai-based software firm’s utilisation rate, including trainees, stood at 72.1 per cent.
Non-Indian nationals formed 7.6 per cent of the total employee base of the company and women formed 32 per cent of the total workforce.
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