During the TCSQ3 results, TCS’ Chief Human Resources Officer Milind Lakkad answered that over 96% of TCS employees would continue to work from home for at least another couple of months. Tata Consultancy Services, The largest IT Company in India, reported Q3 results with a consolidated net profit of 7.2% to Rs 8,701 crore and answered many questions around Work From Home, compensation, recent TCS deals, Pricing, Acquisitions, Digital Transformation, and TCS Office Space, etc.
TCS Work From Home Updates
As India prepares for the COVID-19 vaccine rollout, there is a big question mark on the future of WFH in the Indian IT Industry. During TCSQ3 results, TCS has confirmed that there are no plans for permanent TCS Work From Home; however, TCS employees will continue to Work From Home for the next two months.
According to TCS’ Chief, Human Resources Officer Milind Lakkad, Associates well being and health is the highest priority for TCS. They will continue to work with local supervisory authorities even after vaccination. He added that 3.4% of TCS employees are currently working from the office. TCS has a consolidated headcount of 4,69,261 employees, indicating a large pool of 4.53 lakh employees is now working from home.
TCS on WFH Productivity of employees
Answering a question on TCS WFH employees’ productivity, TCS COO N Ganapathy Subramaniam said, “I am also working from home and feel I am not doing much so I end up working more. There is no impact on productivity.”
TCS Compensations News Updates
TCS had the highest retention rate among other large IT companies in India. TCS CFO V Ramkrishna said that TCS delayed the compensation this year due to pandemic. Instead of March, TCS announced the Bonus and salary hikes in October.
TCS has not decided on the timing of Salary Hike and Bonus for this year however TCS management is confident to have a Business As usually(BAU) cycle for TCS salary hikes and compensation in March 2021. TCS will decide on Bonus and Salary Hikes before March 2021
TCS updates on Deals and Sustainability of Digital Transformation
TCS CEO and MD Rajesh Gopinathan said the current momentum for Digital Transformation is robust and sustainable. It would lead TCS to robust demand-led revenue growth in FY21 and FY22.
Responding to a media question on some big deals in Europe, he said Europe had been an attractive TCS market for many years but digital transformation accelerated due to pandemic and high demand for business continuity projects.
TCS updates on giving up Surplus Real Estate and Office Space
WFH became the new norm therefore many Software and IT Companies are now moving permanently to WFH or Hybrid WFH models and saving big-time money on office space. TCS confirmed that it would not vacate or sell any office space or IT park and continue to have surplus real estate while employees work from home.
Wipro and Infosys To Continue Working From Home Till March 2021
As per reports, 98% of Infosys and Wipro employees will be working from home till March 2021 however Indian IT Blog expects some announcements for Infosys WFH and Wipro WFH in the coming week during financial results of these two IT companies.