TCS’ attrition price continues to say no and stood at 12.5 per cent throughout the March 2024 quarter.
TCS wage hikes will probably be within the vary of 4.5-7 per cent primarily based on efficiency, with high-performers receiving double-digit will increase, says its chief HR officer Milind Lakkad
Tata Consultancy Companies (TCS), India’s largest IT providers firm, has introduced annual wage hikes for its workforce, with high performers receiving double-digit increments. Its Chief HR Officer Milind Lakkad mentioned wage hikes will probably be within the vary of 4.5-7 per cent primarily based on efficiency, with high-performers receiving double-digit will increase.
Lakkad in an organization assertion on April 12 mentioned, “We’re happy to announce the annual increments for our workforce, as we’ve got carried out persistently yearly, with high performers receiving double-digit hikes.”
In keeping with an ET report, TCS plans so as to add about 40,000 freshers this 12 months, lots of whom have already joined from the earlier cycles.
TCS has reported a web discount of 1,759 workers throughout January-March 2024. With this, the corporate’s workforce as of March 31, 2024, stood at 6,01,546. The full headcount of TCS is the bottom within the final two years.
The March 2024 quarter can also be the third consecutive quarter of declining whole headcount on the firm. Within the previous October-December 2023 quarter, TCS’ workforce fell by 5,680 workers, bringing the overall headcount to 603,305. Total, within the fiscal 12 months 2023-24, TCS has diminished its workforce by 13,249 workers.
The attrition price in IT providers continues a declining development and stood at 12.5 per cent throughout the March 2024 quarter.
Milind Lakkad, chief HR officer of TCS, mentioned, “The diminished attrition price of 12.5 per cent, together with a optimistic response to our campus hiring, elevated buyer engagements, and workers returning to the workplace, has fostered a vibrant environment in our supply centres and boosted the morale of our associates.”
Tata Consultancy Companies on Friday reported a 9.1 per cent development in its March quarter web revenue at Rs 12,434 crore. Within the fiscal 12 months 2023-24, the corporate’s web revenue grew 9 per cent to Rs 45,908 crore, as per an change submitting.
The Tata Group firm’s post-tax revenue throughout the January-March interval final 12 months stood at Rs 11,392 crore. Within the March quarter, its income grew 3.5 per cent to Rs 61,237 crore 12 months on 12 months.
Its working revenue margin expanded by 1.50 per cent to 26 per cent.
