In the last quarter of FY22, employees at India’s leading IT services company, Tata Consultancy Services (TCS) logged 22 million learning hours.
The Company claimed in an official communique, that it has been heavily investing in learning and development (L&D), and that has resulted in 3.5 million digital competencies in the full year.
The number of contextual masters crossed 50,000 – another key milestone in the journey to scale growth and transformation capabilities within the organisation.
The Indian multinational also claimed that its philosophy of investing in people, and its progressive workplace policies have resulted in industry-leading retention in an environment of increased churn.
While attrition in IT services continued to climb, reaching 17.4 per cent, incremental attrition has moderated.
In the fourth quarter of FY22, TCS added 35,209 employees on a net basis, which is the highest ever net addition in a quarter for the Company.
Its employee headcount now stands at 592195, with a net addition of 103546 during the year. Boasting of a diverse workforce, with 153 nationalities, women make up 35.6 per cent of the population at TCS offices.
Milind Lakkad, CHRO, TCS, says in the official communique, “With the highest ever net addition this year, consistently highest talent retention, benchmark talent development metrics, continued focus on health and wellbeing and numerous industry awards, we have reaffirmed TCS’ position as the #1 employer of choice.”
Tata Consultancy Services has seen a seven per cent surge in its net profit to Rs 9,926 crore, with the revenue surpassing the Rs 50,000-crore mark for the first time in the Indian multinational’s history. Its revenue for March also saw an increase of nearly 16 per cent from a year ago to Rs 50,591 crore this year.
Rajesh Gopinathan, CEO, TCS, and managing director (MD) noted that the Company provided a salary hike of six to eight per cent to its employees in FY22 and is going to go forward with similar raises in FY23 as well.
He admitted that the Company is “closing FY 22 on a strong note, with mid-teen growth and adding the maximum incremental revenue ever”. He attributes this to the “increasing participation in our customers’ growth and transformation journeys, and an all-time high order book” which further ensure “a strong and sustainable foundation for continued growth ahead”.