According to a recent report by TechGig, Tata Consultancy Services (TCS) is planning to hire a significant number of freshers in the fiscal year 2024 (FY24). The company’s chief human resources officer, Milind Lakadd, stated that the hiring decisions for the upcoming year will be contingent on the company’s business performance in each quarter. He emphasised the continued importance of campus recruitment drives to onboard trainees.
Although TCS has set a target of hiring 40,000 freshers in FY24, the number of freshers hired during the current fiscal year is expected to be lower than last year’s count of 44,000. However, this decline in hiring does not indicate a halt in hiring trainees or rescinding job offers, as the company remains committed to campus recruitment.
TCS CEO, K Kritihivasan, confirmed the ongoing hiring of freshers, assuring that the practice will continue this quarter and beyond. Additionally, the company reaffirmed its commitment to honouring all job offers made to candidates.
Krithivasan highlighted TCS’s focus on utilising the capacity already built up within the organisation while ensuring that all job offers are fulfilled. Notably, the company achieved a remarkable reduction in attrition in its IT services, which fell further to 17.8% over the last twelve months.
TCS’s dedication to employee growth and development was evident as it rolled out an annual salary increase across its workforce from April 1, 2023. Furthermore, the company invested significantly in training, with 103,000 employees upskilled in high-demand competencies. Collectively, TCS employees spent 12.7 million hours on learning and acquired 1.3 million new competencies.
Overall, TCS remains optimistic about its freshers’ hiring targets for FY24, despite the anticipated dip in hiring for the current fiscal year. The company continues to prioritise campus recruitment and skill development to maintain its growth trajectory.