IT services giant Tata Consultancy Services (TCS) Gen-AI ready workforce was over 100,000 strong at the end of the September quarter of the fiscal.
The company is proactively hiring bright freshers and investing in training them with the right skills is paying off. Additionally, it has reported a dip of 6,333 employees.
N Ganapathy Subramaniam, Chief Operating Officer, and Executive Director said, “We continue to make investments in our people and new technologies.”
“We now have a 100,000-strong pool of Gen-AI Ready consultants and prompt engineers who are engaged in hundreds of Gen-AI projects for our clients across segments”, N Ganapathy added.
Milind Lakkad, Chief HR Officer, said, “Our strategy of proactively hiring bright freshers and investing in training them with the right skills is paying off.”
“With that talent coming on stream and with reduced attrition, we were able to recalibrate our gross additions, keeping it below the departures during the quarter, driving up productivity and enhancing project outcomes”, Milind Lakkad added.
CHRO Milind Lakkad explained, “We are going to have 100 per cent variable pay for 70 per cent of our workforce. The rest of the workforce will get paid based on the business unit performance.”
With gross additions held below departures, TCS’ workforce stood at 608,985 as of September 30th, reflecting the company’s focus on improving workforce utilization and productivity. The employee base continues to be very diverse, with 35.8% women and with 152 nationalities.
Year to date, TCSers have clocked 26.4 million learning hours and acquired 2.6 million competencies including 350,000 high-demand competencies. IT services’ attrition was at 14.9% for the last twelve months.
In financial results for Q1FY24 the quarter ending June 30, 2023, TCS LTM IT Services attrition rate this quarter is 17.8% with a workforce strength of 615,318. The company’s net headcount addition of 523 and the contribution of women in the workforce is 35.8%.
The company’s headcount as of March 31, 2023, stood at 6,14,795. In the previous quarter, TCS in Q3FY23 posted a decline of 2,197 people in its employee base, and TCS headcount stood at 613,974 as of December 31, 2022.
Note: (We are on WhatsApp. To get the latest news updates, Join our Channel. Click here)
