Tata Consultancy Services (TCS) witnessed record low attrition in the third quarter. The information technology company recorded an attrition of 7.6 per cent in IT services in December 2020, that is, the third quarter of FY21. That is not all, the IT major has paid its employees 100 per cent quarterly variable allowance (QVA) for the quarter ending December 2020, across all grades.
The overall headcount at the Company stood at about 469,261, with a net addition of 15,721.
Having sustained its spend on developing talent, the Company is actually gearing for growth. It is focussing on using technology to innovate and digitise processes, especially in HR, with increased virtual interactions. More than 3,66,000 staff members have been given training on emerging technologies and over four lakh have received training in agile techniques.
The Company prides itself in its people culture and globally-renowned HR practices that have come to be considered a benchmark in talent retention. People from about 147 nationalities are part of the workforce with women comprising 36.5 per cent of it.
Presently, 3.4 per cent of TCS staff are working out of office, while about 96 per cent (over 4.5 lakh) are working remotely or from home.
The Indian IT company experienced the strongest Q3 growth in nine years in spite of the pandemic slowing down the economy worldwide. Not surprisingly, TCS is now hoping for double-digit growth in the next financial year.