India’s largest IT employer, Tata Consultancy Services, has a total headcount of 4.8 lakhs, and the company is managing them all remotely during the pandemic.
TCS conducted over 1 lakh interviews virtually pivoted the TCS NQT platform to a complete virtual and remote model.
The company’s annual report FY21 revealed its strategy for engaging with the employees and recruiting the freshers remotely from college campuses.
The company can retain its talent by reskilling, hikes, and promotions. In addition, TCS has onboarded 138000 associates through its TCS Elevate Program that links learnings and careers. However, It had the lowest attrition rate in the IT industry, at 7.2 per cent.
As the pandemic has forced to shut all offices and employees working from home, TCS had a net hire of 40185. In addition, over 3.68 lakh students from more than 3100 colleges attended the TCS NQT.
A digital online onboarding model has helped the company to integrate hired associates worldwide. The company’s global workforce includes 154 nationalities across 46 countries.
The company in Industry review said that the IT services global market continue to be highly fragmented, with even the most extensive provider having a mid-single-digit market share.
The company’s Annual report, “TCS is one of the largest IT services providers with a market share of 1.6 per cent. It has outperformed the market, growing at double the rate of market growth over the last years. This achievement may be attributed to market share gains resulting from TCS’ customer-oriented strategy and its organizational structure, investments aimed in building superior capabilities, better execution resulting greater customer satisfaction, and steadily extending participation in clients’ growth and transformation spend.”
The Annual reports also highlighted that global technology spends decreased 3.2 per cent to about 1.4 trillion USD in 2020. Within that, IT services spending fell even more, down 3.9 per cent, while Business Process Management declined by 2.4 per cent. While the spending showed a decline yearly, technology was centre-stage in enterprises’ response to the pandemic-related lockdowns.
After the initial compression due to dislocations, the need for business continuity, operational resilience, and the switch to digital transactions developed a strong demand for IT services over the rest of the year.
Milind Lakkad, CHRO, TCS, said that retaining the existing talent is more vital than acquiring new talent. “The company is an industry leader in talent retention with the lowest IT services attrition rate of 7.2 per cent.”