India’s largest IT major, Tata Consultancy Services (TCS) has announced its Q3FY23 results for the quarter ending on December 31, 2022.
The company said that it will be hiring 1.25 lakh to 1.5 lakh employees in the financial year 2023-24 (FY24).
Since the company posted a decline of 2,197 people in its employee base, TCS headcount stood at 613,974 as on December 31, 2022. The company also clarified that none of these headcount reductions are influenced by the demand environment, and were simply a result of mass hiring.
TCS has reported attrition in Q3FY23 stood at 21.3 percent, a slight decline from 21.5 percent in Q2FY23 on a last-twelve-month basis. In Q3, TCSers clocked 11.4 million learning hours, resulting in the acquisition of 1.3 million competencies.
TCS workforce continues to be very diverse, comprising 153 nationalities and with women making up 35.7% of the base.
Commenting on the Q3FY23, N Ganapathy Subramaniam, Chief Operating Officer, and Executive Director said, “As I look back at 2022, it’s gratifying to see the privileged partnership that we continue to enjoy with our clients globally.”
“In a hybrid working model, we delivered many complex transformation programs tailored to the specific needs of our clients’ ecosystem with speed and agility. It’s also refreshing to see our delivery centers and PacePort labs busy with our consultants and client executives jointly reimagining solutions to deliver the future, now”, N Ganapathy Subramaniam said.
N Ganapathy Subramaniam further said, “The year also saw us embracing data, AI, and ML holistically to disrupt ourselves and drive competitive advantage to our client’s businesses. All these augurs well for our future as we step into 2023.”
Milind Lakkad, Chief HR Officer said, “Our focus over the last few quarters on bringing in fresh talent at scale, training them on new technologies, and making them productive is paying off.”
“We are particularly proud of having 125,000 TCSers at middle and senior levels who have been with the company for more than 10 years on average”, Milind Lakkad said.
Milind Lakkad further said, “They have been central to the successful cultural integration of all the fresh talent we have onboarded in the last couple of years, and their contextual knowledge and customer-centricity have been key to the high level of customer satisfaction that TCS is known for.”
