The IT company has been trying to strengthen its middle level of employees to ensure better performance in the year 2020-21.
Tata Consultancy Services (TCS) has revealed that it has hired about 39,000 freshers in FY 20. This is part of the information technology company’s measures to ensure better performance in 2020-21, even though growth has been far from satisfactory in the banking, financial services, and insurance (BFSI) space. However, TCS is optimistic about growth in this sector in the coming quarters.
Through its national qualifier test for FY21, the multinational company has already offered jobs to 39,000 candidates. The initiative to hire freshers began in 2018, in order to provide opportunities to the best of talent from across the engineering colleges of India. Applications were sought online. Till now, in FY20, over 93 per cent of the 30,000 associates who were offered jobs in FY19 have been inducted in the first two quarters. The remaining will be onboarded in the coming months.
In the nine months that ended in December, the Indian MNC had added 22,400 associates. However, its headcount was reduced by 4,063 in December, which was the first ever round of downsizing in 10 quarters.
The Company is expected to witness a growth in earnings, even better than was predicted by analysts, and may even perform better than competitors. The company is trying to set a limit to the duration of long-term projects, to about five years, so that revenue visibility can be enhanced.