On 8 July 2022, Indian multinational company, Tata Consultancy Services revealed that its employees have been given increments between five to eight per cent, with the best performers enjoying bigger hikes, post their yearly review. That is not all, TCS has employees from about 153 nationalities as part of its workforce, which comprises 35.5 per cent women. It is clearly doing well on the diversity front too.
Having hired over 14,000 people in the first quarter, the workforce strength of the IT major was about 606,331 at the end of June, 2022, while its attrition had gone up to 19.7 per cent over the last one year, which is reportedly the highest in six quarters. The addition of people to the workforce means demand is going to be strong in the near future.
Clearly, the Company’s “empowering, performance-driven work culture” has drawn local talent across its primary markets worldwide. The Company is also known for investing significantly in developing its talent and offering learning and career-development opportunities.
As the Company is working towards a permanent hybrid model, it is trying to first encourage more employees to return to office. Right now, 20 per cent of TCS employees are working from home. The Company is hoping to get this figure up to 80 per cent, but in a gradual and steady manner.
Amidst the pandemic, the Company had decided to work towards a 25/25 model. That is, by 2025, the multinational expected only 25 per cent of its employees to work from physical offices at any given point.