Over 1,00,000 freshers were hired by Tata Consultancy Services (TCS) in FY22, and 40,000 will be hired in FY23.
Additionally, the company hired 1,03,546 new employees for the year ending March 2022, an increase of over 40,000 from FY21. In the third quarter, the company hired 35,209 new employees, its highest ever.
Attrition for the company was 17.4% in Q4FY22. Nevertheless, 17.4% may be less than peers who will announce their numbers soon. As of Q4FY21, the company had reported an attrition rate of 7.3%. TCS attrition in Q3FY22 was 15.3%.
Going forward, the company says its hiring momentum will be similar to last fiscal year. “We will start with 40,000 campus hires for Q1 of FY23,” says N Ganapathy Subramaniam, COO, and executive director of TCS.
Net employee growth for the fourth quarter ended on March 31, 2022 was 35,209. At the biggest employer in India, there were 592,195 employees.
In response to Q4FY22, TCS’ Global HR Head, Milind Lakkad, said: “With the highest net addition this year, highest talent retention, benchmark talent development metrics, and numerous industry awards, we have reaffirmed TCS’ position as the #1 employer of choice.”
During the quarter under review, TCS’s consolidated revenue increased 16 per cent year-over-year to Rs 50,591 crore. In the corresponding quarter a year ago, it was Rs 43,705 crore. TCS Will Hire 40,000 Freshers In FY23, Added Over 1 Lakh Freshers In FY22