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TCS on a high, to hire over 17,000 hands in 3 months
On a high after a good first quarter result and with a good set of deals in the pipeline Tata Consultancy Services is set to hire 17,000-20,000 hands between July and September this year. HT reports. Scouting for brain power
On a high after a good first quarter result and with a good set of deals in the pipeline Tata Consultancy Services (TCS) is set to hire 17,000-20,000 hands between July and September this year. It has added close to 12,000 people to its workforce since April 1.
The company had announced in April that it plans to hire 60,000 workers this fiscal.
"Most of the hiring will be in India while the business demand is coming from different geographies," said Ajoyendra Mukherjee, VP and global head for HR at TCS. "Half of these will be trainees and freshers, and the rest will come from a talent pool of experienced professionals."
The software services behemoth employs close to 2 lakh people across the world.
In the April-June financials announced on Thursday, TCS had reported a dip of 251 basis points on account of a 12-14% wage hikes for employees. However, the company expects that fresh recruitments will not hit the bottomline as the volume of work and revenues will also rise proportionately, Mukherjee said.
"The absolute cost will increase but the revenue will also go up, so our profits won’t be hurt," Mukherjee said.
Traditionally, TCS sees an influx of trainees between July and December, and they undergo three months of training. BSc-holders undergo a longer training programme.
"Since a lot of our new recruits are in training between July and December our utilisation rate dips a bit," Mukherjee said. "TCS' current utilisation excluding trainees is 83% and when trainees are included it falls to 76%. Our focus on achieving an utilisation rate of 82-84% minus trainees will remain high (on priority list)."
