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<ul><li>Tata Consultancy Services (TCS) will add 18,000 freshers in the next three months </li><li>Its profits too grew by 10.8% to ₹8,131 crore as compared to Rs 7,340 crore in the first quarter last year. </li><li>TCS has trained over 315,000 employees in new digital technologies. </li></ul>The country’s largest company by value, Tata Consultancy Services (TCS) will add 18,000 freshers in the next three months, according to a press release. This is after they added 12,356 employees during the first quarter of the year, which is the highest ever addition in the last five years. They had given out 30,000 joining letters to freshers and 40% of them have come onboard already. This hiring plan comes on the back of strong growth in revenues at 10% in the first quarter ending June 2019. Its profits too grew by 10.8% to ₹8,131 crore as compared to ₹7,340 crore in the first quarter last year. The company also said that its attrition is at 11.5%. “TCS account teams are better placed to retain the contextual knowledge gained over time, and use that to build differentiated solutions tailored to each customer’s unique requirements,” said Milind Lakkad, Global Head, Human Resources in a press release. Digital Transformations TCS also said that more of its customers are undertaking digital transformation projects, swelling its orderbook. “We have had a steady start to the new fiscal year. We see customers continuing to spend on their growth and transformation initiatives, and that is showing in our strong order book and deal pipeline this quarter,” said Rajesh Gopinathan, Chief Executive Officer and Managing Director of TCS. During the quarter, the company gained two large financial sector clients during the quarter. “We are confident of the future as we embrace deeply the Machine First philosophy in delivering experiential and modern solutions to our clients,” said N Ganapathy Subramaniam, Chief Operating Officer &amp; Executive Director. To be able to deliver these services, TCS has also trained over 315,000 employees in new digital technologies.

TCS to add 18,000 freshers in the next three months

<ul><li>An India capital markets and investment group, CLSA, has said that hiring in the IT sector that grown for 12 successive months.</li><li>Hiring in Infosys and Tata Consultancy Services, two of the largest IT firms in India, increased 350% in FY19.</li><li>IT employment isn’t just growing in the tech sector but also in the non-traditional</li></ul> Among growing concerns around employment in India, CLSA — a capital markets and investment group — claims that hiring in information and technology (IT) sector is continuing to grow in double digits for the fourth consecutive month. 
 
 
 <div type="ExtQuote" text="Indian IT hiring grew for the 12th successive month and was up 38% YoY in Mar. This is the fourth successive month of double-digit growth." auname="CLSA said in a report"></div>







 The finding comes in the backdrop of an ongoing job crisis in the country in an election year during slowdown in job growth across all sectors. Nonetheless, two leading IT firms in India — Tata Consultancy Services (TCS) and Infosys — <a href="https://www.businessinsider.in/These-2-Indian-IT-majors-hired-more-than-42000-techies-in-fiscal-year-2019/articleshow/69000671.cms">reportedly</a> increased their hiring by 350% in FY19. The IT sector faced some troubled waters back in 2017, when tech firms all over India laid off around 56,000 workers allegedly due to digitisation and automation. A recent <a href="https://www.hindustantimes.com/education/five-million-jobs-lost-between-2016-18-says-report/story-9OsA2pHxyvto4qoiDUSLMI.html">analysis</a> by a research team at Azim Premji University painted a grim picture, saying over 5 million jobs were lost in India between the years of 2016 and 2018. The IT sector, nonetheless, seems to have turned a corner in the last two quarters. And, the Experis IT Employment Outlook Survey <a href="https://www.experisindia.com/outlook_survey.php">predicted</a> as much, expecting a positive net employment outlook of 53% between October 2018 and March 2019. But, the survey also pointed out how most of the employment will be generated by non-IT companies looking to transform digitally. As much as 45% of the demand for IT professionals would come from companies involved in utilities, finance, manufacturing and retail. The rapid evolution of machines and algorithms in the workplace could create 133 million new roles in place of 75 million that will be displaced between now and 2022, Even NASSCOM backed that claim with their own <a href="https://www.nasscom.in/newsline/envisioning-future-jobs">study</a> indicating how <keyword id="107950" type="TECHNOLOGY" weightage="20" keywordseo="artificial-intelligence">artificial intelligence</keyword> (AI), internet of things (IoT) and big data analytics would drive <keyword id="59516" type="PERSON" weightage="20" keywordseo="IT-hiring">IT hiring</keyword> in the future. And, while the change in the nature of IT jobs will create 133 million new opportunities, it will also result in the displacement of 75 million jobs by 2022 <a href="https://www.weforum.org/press/2018/09/machines-will-do-more-tasks-than-humans-by-2025-but-robot-revolution-will-still-create-58-million-net-new-jobs-in-next-five-years/">according</a> to the World Economic Forum. This phenomenon can be observed in India where the overall number of employees in the top two IT firms in India — TCS and Infosys — has increased, but the net addition per quarter has been dipping in the past two quarters. Even though, for FY19, hiring between the two has grown 350%. 
 
 
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 But, it’s not that jobs don’t exist — the problem is more about the growing skill gap that is indicative of a much more severe issue at an education level. Employers are looking to hire individuals for very specific tasks that require a specialised skill set meanwhile higher education institutes are still giving out generic and broad degrees. In October 2018, more than 50,000 data science and machine learning (ML) jobs were <a href="https://www.businesstoday.in/latest/trends/jobs-in-data-science-machine-learning-vacant-in-india/story/285446.html">vacant</a> in India. And, as companies look for highly skilled workers, the unskilled and low-skilled portion of the workforce will suffer further. Even when it comes to artificial intelligence (AI) there were <a href="https://www.businessinsider.in/india-has-a-booming-artificial-intelligence-sectorand-its-struggling-to-fill-over-4000-vacant-positions/articleshow/67154961.cms">reportedly</a> 4,000 vacant positions in December 2018 according to Analytics India Magazine study. Big data analytics is currently the ‘<a href="https://www.businessinsider.in/big-data-and-analytics-may-be-the-hottest-sector-but-india-has-a-serious-dearth-of-data-scientists/articleshow/66860305.cms">hottest</a>’ sectors in IT, but India only has fewer than 10% of data scientists available globally. LinkedIn estimates that the demand for big data professionals will only increase in the future, hitting nearly 40% over the next two years. The situation is already so severe that earlier this year in February, over 150 individuals with Masters in Business Administration (MBA) and engineering degrees <a href="https://www.businessinsider.in/in-india-mbas-and-engineering-graduates-compete-for-sanitation-jobs/articleshow/67866169.cms">applied</a> for the 14 available posts at the Sanitation Department in the south Indian state of Tamil Nadu.

Hiring by Indian IT companies has grown 12 months in a row, up over three-fold

<ul><li>The company has earlier intended to hire 34,000 employees by March 2022 but it has completed that target by December itself.</li><li>TCS has reported an attrition rate of 15.3%, which is lowest when compared to peers <keyword id="10862" type="General" weightage="50" keywordseo="wipro" source="Orion">Wipro</keyword> and <keyword id="6354512" type="General" weightage="50" keywordseo="infosys" source="Orion">Infosys</keyword>.</li><li>To retain top talent, TCS has ramped up promotions. After 110,000 promotions till December 2021, it plans another 40,000 before March.</li><li>Check out our <a href="https://www.businessinsider.in/bi-newsletter">weekly explainers</a> on the hottest topics and <a href="https://www.businessinsider.in/newsletters_signup.cms">sign up</a> if you like them.</li></ul>India’s largest software exporter, <keyword id="6357585" type="General" weightage="20" keywordseo="tata-consultancy-services" source="Orion">Tata Consultancy Services</keyword> (TCS), whose employee count recently completed a milestone of 2,00,000, continues to be aggressive in hiring amidst a crazy battle for technology talent . TCS had earlier said that it would hire an additional 34,000 freshers by March but it has already met that target by December. The company will continue to hire between January to March quarter as well, however, no particular target has been set. “Our hiring intensity will continue but we don’t have any particular number for the coming quarter,” Milind Lakkad, Chief Human Resources Officer at TCS, highlighted during the media briefing. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quarter </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of freshers hired </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April to September </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">43,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">October to December </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">34,000 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> TCS has reported an attrition rate of 15.3%, which is lowest when compared to peers <a href="https://www.businessinsider.in/careers/news/wipro-plans-to-hire-30000-freshers-in-2023-as-attrition-rate-increases-to-22/articleshow/88855676.cms" data-type="tilCustomLink">Wipro</a> (22.7%) and <a href="https://www.businessinsider.in/careers/news/the-attrition-at-infosys-is-worse-than-that-[…]s-increased-hiring-plan-by-10000/articleshow/88856648.cms" data-type="tilCustomLink">Infosys</a> (25%), in the quarter ending December 2021. However, it hired a net of 28,000 new employees in the last three months, the highest ever in the company’s history. <div type="image" title="TCS attrition rate" msid="88858294" hostid="261" caption="&amp;lt;p&amp;gt;TCS attrition rate&amp;lt;/p&amp;gt;"></div> Attrition is used to describe the rate at which employees are leaving the company. To battle the fast pace at which employees are moving on for better opportunities, TCS has increased the pace of promotions as well. As part of its earnings release, the management said that it had given 110,000 promotions this financial year till December, and another 40,000 are on the cards in the remaining three months. <div type="Video" msid="85123846" hostid="261" title="There was never a better time to be a techie in India" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=85123846"></div> The higher salaries, incentives and cost of hiring and retaining top talent has taken a toll on the profit margins of TCS, just as in the case of Infosys and <a href="https://www.businessinsider.in/careers/news/wipro-plans-to-hire-30000-freshers-in-2023-as-attrition-rate-increases-to-22/articleshow/88855676.cms" data-type="tilCustomLink">Wipro</a>. Operating margin fell to 25% compared to 26.6% three months ago. The company believes that the attrition pressure may be bottoming out. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/the-attrition-at-infosys-is-worse-than-that-at-wipro-ceo-salil-parekh-has-increased-hiring-plan-by-10000/articleshow/88856648.cms">The attrition at Infosys is worse than that at Wipro, Salil Parekh has increased hiring plan by 10,000</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/wipro-plans-to-hire-30000-freshers-in-2023-as-attrition-rate-increases-to-22/articleshow/88855676.cms">Wipro increases hiring plan to 30,000 as attrition hits a new high</a>

TCS completes its fresher hiring target three months ahead of schedule but it’s not done yet

<ul><li>Over 100 employees in TCS received over ₹ 10 million in annual remuneration in the last fiscal, ET reported. </li><li>In comparison, Infosys extended ₹10.2 million to nearly 60 employees in India, including variable stock component. </li><li>The two IT companies reportedly increased their hirings by 350% in FY19. </li></ul>Homegrown IT major Tata Consultancy Services(TCS) reportedly extended nearly ₹10 million in annual remuneration to over 100 employees in the previous fiscal. Of this, nearly one-third of the employees started their careers with the IT company, according to an<a href="https://economictimes.indiatimes.com/news/company/corporate-trends/more-than-100-tcs-employees-earn-more-than-rs-1-crore-annually/articleshow/69764584.cms?from=mdr"> ET report</a>. In comparison, TCS has 91 employees having annual salary above ₹10 million in FY17, and the count has increased to 103 in 2019. However, this excludes the salaries of employees based outside India, and top-notch employees — CEO Rajesh Gopinathan and COO NG Subramaniam. The annual remuneration includes salary, cash incentives, allowances and the company’s provident fund component. In comparison to<a href="https://www.businessinsider.in/wipro-campus-placements-to-double/articleshow/67719782.cms"> TCS, Infosys</a> offered over ₹10.2 million salary to nearly 60 employees. This, however, includes the variable stock component. The youngest employees(earning over ₹10 million) in the company are in their early 40s, while the oldest employee in the company is 72 years old. TCS has a good retention rate among the senior employees. According to analysts, TCS’ success is due to the stable and consistent senior talent pool and its ability to give people leadership roles without losing them to rivals, ET reported. Strengthening the employee base, the two IT companies reportedly increased their hiring by 350% in FY19. In its recent achievement, <a href="https://www.businessinsider.in/after-becoming-the-third-largest-it-service-brand-in-the-world-tcs-surpasses-ibm-in-market-cap/articleshow/69741769.cms">TCS surpassed IBM</a>, in terms of market capitalisation, which stood at $120.5 billion. See also: <a href="https://www.businessinsider.in/60-iimc-students-had-their-salaries-doubled-after-an-executive-mba/articleshow/69750286.cms">60 IIMC students had their salaries doubled after an Executive MBA</a> <a href="https://www.businessinsider.in/hiring-tcs-infosys-wipro-and-others-up-12-months-in-a-row/articleshow/69019342.cms">Hiring by Indian IT companies has grown 12 months in a row, up over three-fold</a> <a href="https://www.businessinsider.in/after-becoming-the-third-largest-it-service-brand-in-the-world-tcs-surpasses-ibm-in-market-cap/articleshow/69741769.cms">After becoming the third largest IT service brand in the world, TCS surpasses IBM in market cap</a>

TCS has 100 people earning over ₹10 million-- and a third of them started their careers in the company

<ul><li>American multinational <keyword id="28721" type="COMPANY" weightage="20" keywordseo="Cognizant">Cognizant</keyword> is expected to lay-off some hundreds of working employees as a part of its structural rejig and growth measures. </li><li>According to an ET report, several fresh graduates hired by the company are still waiting to get their joining date. </li><li>IT firms like Infosys, TCS and HCL have also stepped up campus hirings to expand its entry-level workforce.</li></ul>American multinational Cognizant is expected to lay off hundreds of employees to cut costs, according to an <a href="https://economictimes.indiatimes.com/tech/ites/techies-are-highlighting-workplace-woes-through-memes-and-confession-pages/articleshow/70694556.cms">ET report</a>. The IT major is also trying to boost its revenue by making other changes like tightening travel budgets. It is increasing variable pay as a part of its structural rejig. “It is part of the appraisal process; it is getting stricter. If you were a marginal performer or have not been allocated (a project), then they would look at beginning a separation process,” ET reported citing sources. Cognizant CFO Karen McLoughlin said that the company will focus on higher margins. The report also said that offers made to fresh graduates have been put on hold as well. The company however denied this move. Cognizant has a long history of honouring all campus offers and there is no reason to believe that this year will be any different,” the company said in response. The company also introduced a ‘<a href="https://www.businessinsider.in/cognizant-begins-voluntary-separation-program-for-senior-staff-report/articleshow/69515809.cms">voluntary separation scheme</a>’ for senior executives. Under this, it offers 12-month salary and stock benefits depending on the employee’s tenure in the organisation. As of June, the technology major had 288,200 employees — and over half of them are in India. Fresher Hiring grows Meanwhile, IT firms like Infosys, TCS and HCL stepped up campus hiring to expand entry-level workforce. Infosys — second largest software exporter in India — is planning to hire nearly <a href="https://www.businessinsider.in/infosys-is-hiring-18000-freshers-from-campus-placements/articleshow/70223097.cms">18,000 freshers</a> during this financial year, according to reports. In the 2018-19, the IT giant hired around 8,000 employees — including 2,500 freshers. TCS extended nearly 30,000 offer letters to fresh graduates. It plans to further increase the count by adding <a href="https://www.businessinsider.in/tcs-plans-to-hire-18000-freshers-in-next-3-months/articleshow/70146189.cms">18,000 more</a> over the next three years. <keyword id="30331" type="COMPANY" weightage="20" keywordseo="HCL-Technologies">HCL Technologies</keyword> recently launched its <a href="https://www.businessinsider.in/hcl-technologies-is-hiring-10000-freshers-including-class-12th-passouts/articleshow/69971601.cms">work-integrated programme</a> focussed to create a deployment-ready talent pool. With this, the company plans to hire 10,000 freshers in 2019-20 — including high-school passouts. See also: <a href="https://www.businessinsider.in/infosys-is-hiring-18000-freshers-from-campus-placements/articleshow/70223097.cms">After TCS, Infosys on a hiring spree — plans to add 18,000 freshers via campus placements</a> <a href="https://www.businessinsider.in/tcs-has-36-women-employees-in-the-workforce/articleshow/70190643.cms">TCS is running on women power, with over 150,000 permanent employees</a> <a href="https://www.businessinsider.in/tcs-plans-to-hire-18000-freshers-in-next-3-months/articleshow/70146189.cms">TCS to add 18,000 freshers in the next three months</a>

Cognizant may layoff hundreds of employees sitting on the bench

<ul><li>Tata Consultancy Services (TCS), Infosys, HCL Technologies and Wipro plan to open up lateral hiring further in the next three months. </li><li>In April to June, the attrition rate — number of employees that continue with the company — have dipped for all four of them. </li><li>Although hiring will not be done to replace them immediately, aside from freshers who already have promises to come onboard, Indian IT companies will be hiring laterally to meet deal requirements.</li></ul>Every major Indian IT tech company decided to go slow on hiring or suspended hiring altogether at end of the last quarter in March. However, despite these assertions, they have continued to bring on lateral hires. <div type="Article" hostid="261" msid="77082427" title="Why TCS, Infosys, Wipro and HCL Tech can expect better earnings this year ⁠— here’s what’s working for each one of them" mstype="2" mssubtype="0"></div> <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lateral hires </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,000 </td></tr></tbody></table>Source: Company earnings call One of the big reasons is attrition. Attrition rates present the speed at which employees are leaving the organisation. The lower the attrition rate, the fewer employees a company has been able to retain. <div type="image" title="Attrition rates" msid="77046033" hostid="261" caption="&amp;lt;p&amp;gt;Attrition rates across TCS, Infosys, HCL Tech and Wipro for the last five quarters&amp;lt;/p&amp;gt;"></div> Lateral hiring continues driven by demand Any freshers on-boarded before the pandemic will continue to come through albeit at a slower rate with training facilities caught in the coronavirus pandemic lurch. Meanwhile, offering any new freshers to come on board isn’t a part of the plan. <div type="Article" hostid="261" msid="76995155" title="Infosys is still on the fence when it comes to making work from home a permanent change" mstype="2" mssubtype="0"></div> Instead, the companies are looking at lateral hires to fill the gaps where skill is needed to fulfil current deals and projects. Even at Wipro’s chief human resources officer (CHRO) Saurabh Govil claims that lateral hiring never stopped at the company. “We will continue to hire in Q2 based on demand.” “The downward trend in attrition continues. Expected to continue in the next quarter as well,” said HCL Technologies chief human resources officer (CHRO) Apparao VV. “Attrition has significantly come down but we will not be hiring significant numbers for immediate replacement,” he added. Tata Consultancy Services (TCS) didn’t hire in Q1FY21 but filled in over 4,500 positions by reskilling, cross-skilling and multiskilling the company’s existing employees. CEO Rajesh Gopinathan claims that learning intensity at the company has increased by nearly 25% between April to June. <div type="Article" hostid="261" msid="76887172" title="TCS to kickstart lateral hiring and bring back 5% of its employees to offices" mstype="2" mssubtype="0"></div> The company is now revising its freeze on lateral hiring to meet the demand environment. “We decided to open up on the lateral hiring side and have started onboarding new associates into the TCS ecosystem,” said Gopinathan. Indian IT services companies — like Tata Consultancy Services (TCS), Infosys, Wipro and HCL Technologies — has been launching new initiatives for their staff. Infosys, for instance, increased the variable pay for their staffers in the first quarter of 2020-21. TCS, on the other hand, rejigged their learning module to promote employees already within the organisation. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-and-tech-mahindra-what-to-expect-from-earnings/articleshow/76865753.cms">TCS and Infosys to face least impact — Indian IT companies likely to report sharp decline in revenue during first quarter</a> <a href="https://www.businessinsider.in/careers/news/infosys-work-from-home-not-permanent-says-coo-pravin-rao/articleshow/76995155.cms">Infosys is still on the fence when it comes to making work from home a permanent change</a> <a href="https://www.businessinsider.in/business/corporates/news/h1-b-visa-impact-on-tcs-hcl-tech-infosys-wipro-and-cognizant-after-december-2020/articleshow/76681640.cms">Two ways the H1-B visa freeze could change things for TCS, HCL Tech, Infosys and other Indian IT companies</a>

TCS, Infosys, HCL Tech and Wipro open up lateral hiring as more people walk out the door during the COVID-19 pandemic

<ul><li><keyword id="6357585" type="COMPANY" weightage="20" keywordseo="tata-consultancy-services">Tata Consultancy Services</keyword> (TCS) plans to open up lateral hiring again which had been temporarily suspended due to the coronavirus pandemic. </li><li>It also plans to bring back 5% of its employees to offices by the end of the month. </li><li>In the last quarter, TCS chief human resources officer claims that over 4,500 positions were filled as a result of learning intensity increasing by 25%.</li></ul>India’s largest IT services company, Tata Consultancy Services (TCS), is planning to open up lateral hiring again and things begin to return to normal after the coronavirus pandemic affected its operations worldwide. It also plans to bring back employees into offices to up to 5%. <div type="Article" hostid="261" msid="76875445" title="TCS revenue dips by 6.3% ⁠— CEO says nearly all verticals were hit by COVID-19 crisis" mstype="2" mssubtype="0"></div> TCS claims that its plans to restart lateral hiring are going to come into picture again due to increased demand. “We have decided to open up on the lateral hiring side and have started onboarding new associates into the TCS ecosystem,” said CEO Rajesh Gopinathan. Since they weren’t hiring, TCS chief human resources officer Milind Lakkad says that the company has been filling in positions using ‘strategic talent development’. “Our learning intensity has gone up by nearly 25%,” he said. As a result, over 4,500 positions in the company were filled even though there was no junior recruitment happening over the last quarter. Coming back to work “We are still very conservative in bringing people back to work. Our strategy varies according to the COVID situation in each country, in each city,” said TCS chief human resources officer Milind Lakkad. Currently only has 1% of TCS employees are in offices across the globe. <div type="Article" hostid="261" msid="76865753" title="TCS and Infosys to face least impact — Indian IT companies likely to report sharp decline in revenue during first quarter" mstype="2" mssubtype="0"></div> The company says it will employ a campus-specific approach to bring employees back into the office in line with their 25/25 vision for 2025, which entail only 25% of employees in offices spending 25% of their time to deliver 100% productivity. "The location-independent way of working is gaining traction. Our customers are quite comfortable integrating the remote workforce, using new collaborative technologies to get work done,” said TCS COO N. Ganapathy Subramaniam during the first-quarter earnings call. “It was extremely important for us to connect with fresher recruits during this period,” explained Lakkad since onboarding has been delayed due to delays in academic terms. TCS plans to honour all existing offers. Gopinathan believes that the road to recovery for TCS will be better than it was after the Global Financial Crisis (GFC). According to him, the recovery trajectory was one step ahead this time around due to early response and better coordination. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tcs-reported-revenue-dips-but-profit-grows-in-q1-fy21-results/articleshow/76875445.cms">TCS revenue dips by 6.3% ⁠— CEO says nearly all verticals were hit by COVID-19 crisis</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-and-microsoft-execs-share-ideas-on-world-productivity-day/articleshow/76462291.cms">From TCS and Infosys to Microsoft and Kissflow ⁠— this is what top execs have to say about productivity in remote working</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-and-tech-mahindra-what-to-expect-from-earnings/articleshow/76865753.cms">TCS and Infosys to face least impact — Indian IT companies likely to report sharp decline in revenue during first quarter</a>

TCS to kickstart lateral hiring and bring back 5% of its employees to offices

<ul><li>Technology major <keyword id="28721" type="COMPANY" weightage="20" keywordseo="Cognizant">Cognizant</keyword> is hiring 500 sales professionals, skilled in digital technologies. </li><li>This would include sales staff at <keyword id="10875" type="COMPANY" weightage="20" keywordseo="IBM">IBM</keyword>, TCS, Infosys, Wipro and Tech Mahindra. </li><li>According to Cognizant’s website, there are over 80 job openings in the sales and marketing domain.</li></ul>Technology major Cognizant is hiring 500 sales professionals who are skilled in digital technologies. Cognizant CEO Brian Humphries recently said that they are analysing hiring trends. In fact, the company is looking to poach from TCS, IBM, Infosys and Wipro. “This would include sales staff at IBM disillusioned with the changes at that firm, and also from the likes of TCS, Infosys, Wipro and Tech Mahindra who want to increase earning potential and want a new challenge,” Phil Fersht, chief executive officer, HfS Research <a href="https://m.economictimes.com/tech/ites/cognizants-aggressive-hunt-for-sales-executives-may-set-off-a-talent-war/amp_articleshow/70953335.cms">told </a>ET. According to Cognizant’s website, there are over 80 job openings in the sales and marketing domain. This move is surprising as the company has been <a href="https://www.businessinsider.in/cognizant-may-layoff-hundreds-of-employees-sitting-on-the-bench/articleshow/70696484.cms">laying off its staff</a>. The IT giant has been cutting its mid and senior level talent pool to cut costs. At the same time, it is trying to boost revenues by tightening travel budgets, and increasing variable pay. Cognizant also introduced a ‘<a href="https://www.businessinsider.in/cognizant-begins-voluntary-separation-program-for-senior-staff-report/articleshow/69515809.cms">voluntary separation scheme</a>’ for senior executives. Under this, it offers 12-month salary and stock benefits depending on the employee’s tenure in the organisation. According to a report titled ‘<a href="https://www.businessinsider.in/a-survey-of-sales-professionals-shows-trust-is-as-important-as-tech/articleshow/70263159.cms">The State of Sales 2019 - India Report</a>’ released by LinkedIn, sales professionals are now adopting modern and digital selling tactics. In fact, most new employees spend time on sales technology. This includes using cloud-based software to enhance efficiency by automating tiresome tasks. See also: <a href="https://www.businessinsider.in/infosys-is-hiring-18000-freshers-from-campus-placements/articleshow/70223097.cms">After TCS, Infosys on a hiring spree — plans to add 18,000 freshers via campus placements</a> <a href="https://www.businessinsider.in/tcs-has-36-women-employees-in-the-workforce/articleshow/70190643.cms">TCS is running on women power, with over 150,000 permanent employees</a> <a href="https://www.businessinsider.in/tcs-plans-to-hire-18000-freshers-in-next-3-months/articleshow/70146189.cms">TCS to add 18,000 freshers in the next three months</a>

Cognizant will hire 500 sales staff and looks to poach ‘disillusioned’ IBM employees

<ul><li>While the demand for IT services companies remains robust with the evolving digital environment, high attrition rates remain a top concern for IT firms.</li><li><keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword>, <keyword id="6354512" type="General" weightage="20" keywordseo="infosys" source="Orion">Infosys</keyword> and <keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword> will together hire 1.53 lakh employees in FY22 to hedge against employees leaving.</li><li>Wipro’s attrition rate remains highest at 20.5% followed by Infosys at 20.1% and TCS at 11.9%.</li></ul>While the demand for information technology (IT) services companies remains robust with the evolving digital environment, a huge number of employees leaving these organisations remain a top concern for IT firms. Attrition rate of IT companies has been rising consistently and in-line with growing demand for digital talent. With the earnings results available so far for the September quarter, Wipro has the highest attrition rate, among IT firms, at 20.5% followed by Infosys at 20.1% and <keyword id="6357585" type="General" weightage="20" keywordseo="tata-consultancy-services" source="Orion">Tata Consultancy Services</keyword> (TCS) at 11.9%. <div type="image" title="attrition chart" height="900" width="1200" msid="87013677" hostid="261"></div> However, a report by human resource solutions firm TeamLease shows that the average attrition rate in the IT industry was at 8.67% in September quarter, far less than what the big IT firms have reported. One of the key concerns of IT employees for leaving an organisation is muted growth in increments followed by poor employee benefits, rewards, digital skilling and so on, shows a ‘compensation benchmarking survey’ by Deloitte India and software firms’ lobby NASSCOM. The average increments for the technology services sector in India dropped from 9.5% in 2019 to 5.2% in 2020, which later increased to 8.8% in 2021 due to higher attrition rate. Average increments are expected to go up to 9% to 11% in 2022, said the report. <div type="image" title="compensation" height="900" width="1200" msid="87013730" hostid="261"></div> IT companies are all set to hire in bulk from campuses as they struggle to retain employees with the increasing demand for digital talent. TCS, which has already hired 43,000 freshers in the first half of FY22, expects to hire another 35,000 in the next six months. This takes up the total count of FY22 to 78,000 new employees. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IT companies </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY22 hiring </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">45,000 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">30,000 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">78,000 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> “We believe this attrition level will continue for the next 2-3 quarters. Having said that, our strong employer brand and our robust talent acquisition and talent development models will help us significantly overcome the supply side issues…We will continue to hire more and more and keep the supply ready since our model is robust. The attrition level is definitely concerning, but we can manage through that,” said Milind Lakkad, global head of human resources at TCS, in a press conference post earnings. High attrition rate in some of the largest IT companies in the country is expected to continue for the coming quarters and so is the huge hiring process. “In order to harness the full potential of the market opportunity, we are expanding our college graduates hiring program to close to 45,000 for the year. Simultaneously, we continue to strengthen employee value propositions including health and wellness measures, reskilling programs, appropriate compensation interventions and enhanced career growth opportunities,” said Pravin Rao, chief operating officer at Infosys. TCS is one of the biggest employers in the country with 5.28 lakh employees as of September quarter. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Total headcount </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.28 lakh </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.79 lakh </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.21 lakh </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>At 11:12 a.m., on October 14, shares of Wipro were up 7%, Infosys stock was up 2% and TCS stock was down by 0.8%. ALSO WATCH: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/videos/talent-from-large-it-firms-has-been-flowing-towards-indias-tech-startups/videoshow/87014361.cms">Talent from large IT firms has been flowing towards India's tech startups</a> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/three-unicorns-hundreds-of-crore-in-loss-and-very-little-market-share-whats-the-hype-around-online-car-retailers/articleshow/87012417.cms">Three unicorns, hundreds of crore in loss and very little market share — What's the hype around online car retailers?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/infosys-wipro-vodafone-idea-and-other-hot-stocks-in-focus-on-october-14-as-results-season-heats-up/slidelist/87010496.cms">Infosys, Wipro, Vodafone Idea and other hot stocks in focus on October 14 as results season heats up</a>

India’s techies are leaving IT firms in hordes — Here’s why

<ul><li>Technology giant <keyword id="6357585" type="DOMAIN" weightage="20" keywordseo="tata-consultancy-services">Tata Consultancy Services</keyword> has launched TCS National Qualifier Tests (TNQT) — for both campus freshers and experienced employees. </li><li>This will help employees attain higher salary packages and promotions in their job roles. </li><li>The salary of freshers will be double the slated entry-level compensation, if they get through the test. </li><li>In case of experienced employees, the test will be open for employees with upto three years of experience.</li></ul>Technology giant Tata Consultancy Services has launched<a href="https://www.business-standard.com/article/companies/tcs-employees-can-sit-for-exams-to-be-eligible-for-higher-package-119101500045_1.html"> TCS National Qualifier Tests</a> (TNQT) — for both freshers and experienced employees. The company has launched the internal test to help employees to demonstrate their skills and achieve more — from higher salary packages to promotion from their existing job roles. This is applicable to the fresh hires as well, who want to upgrade their starting salaries. These tests can possibly double the slated fresher salary, if they get through the test. The company believes that this investment in skilled employees and bulk hiring will benefit the company in the long run. “With TNQT model for campus hiring, we can find more people who are hungry to prove a point and do well. If someone performs exceedingly well in the test, then we give them the option for a digital test which they can clear to aim for higher compensation,” Milind Lakkad, Global head of Human Resources <a href="https://www.business-standard.com/article/companies/tcs-employees-can-sit-for-exams-to-be-eligible-for-higher-package-119101500045_1.html">told</a> Business Standard. While in case of experienced employees, the test will be open for employees with upto three years of experience. The tech giant has hired nearly 30,000 employees in the first six months of 2020 fiscal. “The revenue was lower than expected but hiring was on target. And, the utilization levels are healthy but can improve,” V Ramakrishnan, chief financial officer of TCS added. In fact, the software employer is also implementing ‘<a href="https://economictimes.indiatimes.com/tech/ites/digital-performance-take-top-floor-in-tcs-new-pyramid/articleshow/71589980.cms">pyramid rationalisation</a>’ to make up for the salary expenses. Under this, it will focus on hiring more employees with maximum four years of experience, as compared to those with significantly higher experience in the industry, ET reported. The company witnessed 11.6% attrition rate during FY19. On Monday, the software exporter was also nominated as the most <a href="https://economictimes.indiatimes.com/news/company/corporate-trends/tcs-named-indias-overall-most-outstanding-company-in-asiamoneys-2019-poll/articleshow/71583467.cms">outstanding company in India</a> and the country’s IT services sector, according to Asia's outstanding companies poll by Asiamoney. See also: <a href="https://www.businessinsider.in/careers/news/tcs-plans-to-add-30000-freshers-to-its-ranks-to-reshape-its-cost-structure/articleshow/71524019.cms">TCS plans to add 30,000 freshers to its ranks to reshape its cost structure</a> <a href="https://www.businessinsider.in/infosys-is-hiring-18000-freshers-from-campus-placements/articleshow/70223097.cms">After TCS, Infosys on a hiring spree — plans to add 18,000 freshers via campus placements</a> <a href="https://www.businessinsider.in/tcs-has-36-women-employees-in-the-workforce/articleshow/70190643.cms">TCS is running on women power, with over 150,000 permanent employee</a>

TCS fresh hires can double their salary if they pass an internal test

<ul><li>India’s largest software exporter posted a revenue growth of 2.9% growth in revenue to $6.3 billion in the September quarter.</li><li>That was less than 3.8% growth, which was the consensus estimate on the street.</li><li>The market ignored the strength in the US dollar, which hit a 2-year high early on Monday.</li><li>For an exporter like <keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword>, which earns in dollars, a rise in the value of the American currency results in higher profit in rupee terms.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul>Revenue for India’s largest software exporter Tata Consultancy Services (TCS) grew 2.9% to $6.3 billion in the September quarter, when compared to the preceding three months. That was less than 3.8%, which was the consensus estimate on the street. Even the net margin at 25.6% was less than what the market had hoped for. The stock fell to near ₹3,670 in early morning trade on October 11, wiping out the gains since mid-August. The disappointment was so strong that the market ignored the strength in the US Dollar, which hit a 2-year high early on Monday. <div type="image" title="TCS stock chart" height="900" width="1200" msid="86929363" hostid="261"></div> For an exporter like TCS, which earns in dollars, a rise in the value of the American currency results in higher profit in rupee terms. “We believe demand for core transformation remains strong, and this coupled with exemplary execution is likely to drive strong earnings,” said Edelweiss in its report post earnings and the broking firm kept the rating at ‘buy’ and the target price at ₹5,000 in the next one year. Analysts at Motilal Oswal who cut the share price target by 4% to ₹3770 ⁠— not very far where the stock is right now ⁠— are a bit more circumspect. “The management has indicated that margin in the near term can be soft, led by ongoing supply-side challenges,” said their report. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Broking firm </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price for TCS </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Edelweiss </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,774 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Goldman Sachs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,657 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UBS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,936 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CLSA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,050 </td></tr></tbody><tbody></tbody><tbody></tbody></table>Source: Analyst reports and media reports TCS hired 43,000 freshers in the first half of 2021 and <a href="https://www.businessinsider.in/business/corporates/news/tcs-will-hire-35000-freshers-in-the-next-six-months/articleshow/86871159.cms">expects to hire another 35,000</a> in the next six months. That’s almost twice the hiring target the tech bellwether set for itself at the start of the financial year in April. The churn in the information technology (IT) industry has reportedly cooled off, but in the case of TCS, attrition, increased to 11.9% in July-September quarter from 8.60% in April-June period. This is the highest churn at TCS in at least six quarters. <div type="image" title="TCS attrition" height="900" width="1200" msid="86929922" hostid="261"></div> “We believe this attrition level will continue for the next 2-3 quarters. Having said that, our strong employer brand and our robust talent acquisition and talent development models will help us significantly overcome the supply side issues…We will continue to hire more and more and keep the supply ready since our model is robust. The attrition level is definitely concerning, but we can manage through that,” Milind Lakkad, global head of human resources at TCS, told the media after the earnings announcement on Friday. These are the growth rates of the different industry verticals that TCS provides technology services to: <div type="image" title="TCS vertical chart" height="900" width="1200" msid="86930176" hostid="261"></div> SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/opinion-rbi-sticks-to-its-stated-trajectory-but-stands-ready-to-act/articleshow/86908652.cms">OPINION: RBI sticks to its stated trajectory but stands ready to act</a> <a href="https://www.businessinsider.in/advertising/brands/news/koo-is-spending-2-6-lakh-a-day-on-facebook-to-beat-twitter/articleshow/86868706.cms">Koo is spending ₹2.6 lakh a day on Facebook to beat Twitter</a> <a href="https://www.businessinsider.in/stock-market/news/aditya-birla-sun-life-amc-ipo-list-at-2-premium-only/articleshow/86929156.cms">Shares of Aditya Birla Sun Life AMC sees a tepid listing, opens at 2% premium</a>

TCS shares plunge more than 6% despite a stronger dollar that’s good for future profits

<ul><li>Wipro reported that it added 7,000 employees to the company over the last three months during its first-quarter earnings call. </li><li>Saurabh Govil, Wipro’s Chief Human Resources Officer (CHRO), said the company will continue hiring in Q2. </li><li>Even though Wipro doubled its hiring in 2019-20, its net addition of employees was in the red suggesting low attrition. </li></ul>Wipro has hired new 7,000 employees in the last three months, their first quarter, between April to June. And, they plan to keep on hiring, according to Wipro’s Chief Human Resources Officer (CHRO) Saurabh Govil. This comes in the backdrop Wipro reporting the largest decline in employees during the last quarter in comparison to its peers Tata Consultancy Services (TCS), Infosys and other Indian IT services companies.“Lateral hiring never stopped,” said Govil during the first-quarter earnings call. “We will continue to hire in Q2 based on demand,” he added. <div type="Article" hostid="261" msid="76960126" title="Wipro management pins hope on wider margin and new clients while revenue takes a dip" mstype="2" mssubtype="0"></div> Govil added that the company has started on-boarding freshers as per earlier offers. “It would be staggered and delayed based on business requirements,” he said. Even last quarter, Govil asserted that hiring would not be suspended at Wipro in lieu of the coronavirus pandemic. However, the company did not rule out furloughs and leaves at the time. <div type="Article" hostid="261" msid="75173292" title="Wipro's hiring will be slower in the coming months and current employees may be asked to go on leave without pay" mstype="2" mssubtype="0"></div> Wipro in comparison to top Indian IT companies Indian IT services companies have been pushing on fresh hiring as the industry’s attrition rate continues to remain flat. Despite new hires being on the rise, companies across the board reported a dip in total employees. Even Wipro doubled its hiring in 2019-20, however, its total employee count was lower than the year before. Even its net addition of new employees has been the lowest in comparison to TCS and Infosys. While TCS’ numbers were in the ten-thousands, Wipro was still in single digits if not bleeding employees. <div type="Article" hostid="261" msid="75669358" title="Hiring at Infosys and Tech Mahindra is down at least 40% in line with the trend in top five IT firms⁠— and it's not just because of COVID-19" mstype="2" mssubtype="0"></div> Last quarter, while Infosys also reported a dip in employees, Wipro’s drop in net addition was four times higher. <div type="image" title="Hiring IT" msid="76972636" hostid="261" caption="&amp;lt;p&amp;gt;Hiring across top 3 Indian IT services companies&amp;lt;/p&amp;gt;"></div> Even though Wipro plans to keep hiring in the coming quarter, Govil pointed out that all hiring will happen depending on demand. Its utilisation levels this quarter also stood at 75% — 1.6% higher than the previous quarter. According to Wipro Chief Financial Officer (CFO), Jatin Dalal, higher utilisation was one of the factors behind Wipro’s margin expansion this quarter. “We also kept a tight watch on incremental spend… Third is foreign exchange,” he said. Wipro Chairman Rishad Premji disclosed that the company hasn’t laid off a single employee during the coronavirus pandemic during the Annual General Meeting (AGM) on Monday. The National Information Technology Senate (NITES) has alleged in May that Wipro was benching many employees, mainly those at its Pune office, who were subsequently laid off. A claim that Wipro denies. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/hiring-at-infosys-and-tech-mahindra-is-down-40-in-line-with-the-trend-in-top-five-it-firms-and-its-not-just-because-of-covid-19/articleshow/75669358.cms">Hiring at Infosys and Tech Mahindra is down at least 40% in line with the trend in top five IT firms⁠— and it's not just because of COVID-19</a> <a href="https://www.businessinsider.in/careers/news/tcs-hiring-again-with-5-employees-to-return-to-offices/articleshow/76887172.cms">TCS to kickstart lateral hiring and bring back 5% of its employees to offices</a>

You Searched For "Hiring report of TCS" and got 12 results

TCS to add 18,000 freshers in the next three months

BI India Bureau

Hiring by Indian IT companies has grown 12 months in a row, up over three-fold

Prabhjote Gill

TCS completes its fresher hiring target three months ahead of schedule but it’s not done yet

BI India Bureau

TCS has 100 people earning over ₹10 million-- and a third of them started their careers in the company

Prerna Sindwani

Cognizant may layoff hundreds of employees sitting on the bench

Prerna Sindwani

TCS, Infosys, HCL Tech and Wipro open up lateral hiring as more people walk out the door during the COVID-19 pandemic

Prabhjote Gill

TCS to kickstart lateral hiring and bring back 5% of its employees to offices

Prabhjote Gill

Cognizant will hire 500 sales staff and looks to poach ‘disillusioned’ IBM employees

Prerna Sindwani

India’s techies are leaving IT firms in hordes — Here’s why

Bhakti Makwana

TCS fresh hires can double their salary if they pass an internal test

Prerna Sindwani

TCS shares plunge more than 6% despite a stronger dollar that’s good for future profits

Sriram Iyer

After last quarter’s massive dip, Wipro adds 7,000 employees with plans to continue hiring in Q2

Prabhjote Gill

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