TCS expects attrition rate to reach at pre-pandemic levels in second half of this year

In the press conference, Milind Lakkad, Chief HR Officer at TCS said, “on the question of attrition, we came from 21.3% to 20.1%, it seems slow because of the rate is calculated.”

But he added, “If we look at quarterly analyzed attrition, our attrition rate has come down to 4.2% from last quarter to this quarter. For the future, I expect it to come to pre-pandemic levels in the second half of this year.”

On Wednesday, in its regulatory filing, TCS said, IT services attrition on an LTM basis continued to trend down and was at 20.1%.

In terms of employee headcount, the TCS workforce stood at 614,795 as on March 31, 2023, a net addition of 821 in Q4 and 22,600 for the year. The workforce continues to be very diverse, comprising 150 nationalities and with women making up 35.7% of the base.

On the workforce, Lakkad said in the conference, “My answer is simple, yes, 40,000 stands.. campus offers. In fact, we just concluded our nationally qualified test, we had 600,000 plus people appeared in the test. We have so far already issued 46,000 offers.”

In the press release, Lakkad called out the stellar role played by their recruitment team in swiftly scaling up hiring, and onboarding the best available talent, enabling TCS to meet its delivery commitments and capture growth.

He said, “we are honoring all job offers, and have added 22,600 employees on a net basis in FY 23. During the year, we onboarded over 44K freshers and our highest-ever number of experienced professionals.”

Further, he said, the company has doubled down on organic talent development, obtaining over 53K cloud certifications during the year, bringing the total to over 110K employees certified on hyperscaler platforms. This places us among the top 2 partners for the largest cloud providers