Tata Consultancy Services (TCS) has announced plans to hire 40000 freshers this year. This move continues their strong recruitment drive. The global IT sector is changing. India remains a key hub for talent. In the June quarter, TCS added 5,452 employees. This brings their total workforce to 6,06,998.
Why Is It Important
Milind Lakkad, TCS’s Chief Human Resources Officer (CHRO), stressed India’s ongoing role in the talent market. Despite challenges in skills and geopolitics elsewhere, India remains crucial. “India is the destination for talent, and that is not going to change in the near future,” Lakkad said.
TCS is focusing on finishing the gap between academia and industry. They have extensive reskilling and upskilling programs. These programs help employees adapt to new technologies and roles. Lakkad expressed confidence in a positive future for Indian talent.
Salary Increases and Career Growth Programs
TCS has implemented salary increases ranging from 4.5% to 7%. Top performers receive 10-12%. The Elevate Runway program supports career growth. It offers accelerated learning paths that can double compensation for junior employees. Over 400,000 employees have joined the program. This shows its popularity and impact.
TCS’s Mid-Level Transformation (MLT) program helps employees acquire market-relevant skills. This allows them to take on new roles within the company. TCS has updated its variable pay policy to include office attendance. This reflects changes in work dynamics.
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Return to Office Policy
About 70% of TCS employees have returned to the office. The new policy aims to maintain discipline and create a positive work environment. Lakkad said, “We have come to a point where with just 70% plus number I’m very happy.” The policy is not meant to punish. It aims to positively incentivize office attendance.
TCS reported a consolidated net profit of Rs 12,040 crore in the first quarter of FY25. This marks a 9% increase over the Rs 11,120 crore in the same period last year. India remains a pivotal hub for talent amid global IT sector changes.
TCS New Policy Impact On Indian Economy?
The impact of this new policy from TCS will be enormous for the Indian economy. Firstly, unemployment will be reduced as 40000 freshers from the labour force will hire in TCS therefore this will reduce poverty. Along with this, the government will be able to collect more income tax from the wages of the employees and this will increase the government budget to a large extent which will affect India’s development and higher living standards.
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