TCS News: IT Giant to Stop Tracking Work from Office Numbers, Will Hire 40k Freshers This Year
Tata Consultancy Services (TCS), India’s largest IT services exporter, is set to stop tracking the number of employees working from the office, as the company has reached pre-pandemic levels of office attendance.
Milind Lakkad, TCS’s Chief Human Resources Officer, shared that this decision comes after 18 months of rigorous efforts to bring employees back to the office. “We have come to the point where we believe we are coming back to almost the same levels as we were pre-pandemic times,” Lakkad told PTI.
Business as Usual
Lakkad stated that it is now “business as usual” for TCS, which employs over 600,000 people. He noted that the percentage of employees working from the office five days a week is higher than the 70% previously announced. This shift marks a significant milestone for the company, which, like many in the IT industry, had to adapt to remote work during the pandemic.
Fresh Recruitment Drive
In addition to changes in work-from-office policies, TCS is set to hire approximately 40,000 freshers in the current financial year. This move aligns with the company’s continued growth and its strategy to maintain a robust recruitment drive. Despite the challenges faced by the global IT sector, TCS remains optimistic about its talent acquisition and retention strategies.
- Employee Headcount: In the June quarter alone, TCS added 5,452 employees, bringing its total headcount to 606,998.
- Hiring Goals: The company aims to hire 40,000 freshers by the end of the fiscal year 2024-25.
Women in the Workforce
TCS reported a slight decline in the number of women employees, with the figure standing at 35.5% as of June 2024. However, Lakkad emphasized that this is not a concern for the company, highlighting TCS’s flexible policies and measures in place to support employees’ needs.
Addressing Attrition and Ethics
When asked about involuntary attrition, Lakkad noted that it is not a core part of TCS’s HR strategy. The company focuses on ensuring that hired talent is productive and only resorts to involuntary attrition in cases of skill mismatches or persistent productivity issues.
On the topic of governance and ethics, Lakkad stressed the importance of technology in maintaining the integrity of professional examinations and assessments. He highlighted TCS’s commitment to ethical practices and robust background verification processes.
Compensation and Career Growth
TCS has implemented salary increments ranging from 4.5% to 7%, with high performers receiving 10-12%. The Elevate Runway program, designed to incentivize career growth, has seen significant participation, with over 400,000 employees enrolled. This program focuses on financial rewards and career advancement aligned with individual aspirations.
The mid-level Transformation program (MLT) supports employees in acquiring market-relevant skills, enabling them to take on new roles within the organization. Additionally, TCS recently updated its variable pay policy to integrate office attendance as a critical factor, aiming to maintain discipline and foster positive workplace energy.
Future Prospects
As India continues to be a pivotal hub for IT talent, TCS is well-positioned to navigate the evolving technological landscape. Lakkad reaffirmed the company’s commitment to bridging academia-industry gaps through extensive reskilling and upskilling programs.
In summary, TCS’s decision to stop tracking work from office numbers and its ambitious hiring plans underscore its adaptability and forward-looking approach in the dynamic IT industry.
(Based on reports by ET, The Hindu and PTI.)
