{"id":94674,"date":"2024-07-15T06:16:33","date_gmt":"2024-07-15T06:16:33","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/07\/15\/tcs-to-hire-40000-freshers-in-current-financial-year-india-business-news-times-of-india\/"},"modified":"2024-07-15T06:16:33","modified_gmt":"2024-07-15T06:16:33","slug":"tcs-to-hire-40000-freshers-in-current-financial-year-india-business-news-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/07\/15\/tcs-to-hire-40000-freshers-in-current-financial-year-india-business-news-times-of-india\/","title":{"rendered":"TCS to Hire 40,000 Freshers in Current Financial Year | India Business News – Times of India"},"content":{"rendered":"
\"TCS<\/div>


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BENGALURU: As the IT sector undergoes significant transformations, India continues to be the go-to destination for talent<\/a>, adapting to the tectonic shifts shaping the sector.
In the June quarter, TCS added 5,452 employees, bringing the total headcount to 606,998. The company plans to hire around 40,000 freshers in the current financial year, similar to the previous one.<\/p>\n
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“The diversity of skills that are required, talent available in other markets, other geopolitical challenges in certain geographies, and if you look at all of these, India is the destination for talent, and that is not going to change in the near future,\u201d said TCS CHRO Milind Lakkad. He highlighted the company\u2019s efforts in bridging the gap between academia and industry requirements through reskilling and upskilling initiatives, which are difficult to replicate on such a large scale. \u201cI am very confident about a positive way forward for Indian talent, enabling us to achieve much more than what we have done so far.\u201d
Lakkad dismissed concerns about GenAI leading to a reduction in the workforce, stating that while technology is changing the nature of jobs, employees are adapting to it. TCS has rolled increments ranging from 4.5% to 7%, with high performers receiving 10-12%. The company\u2019s Elevate Runway programme is aimed at driving employees to the next level of competency, with juniors receiving double their compensation. Lakkad emphasised the importance of linking learning with career growth, stating, \u201cAll these things are critical for us where we will link learning with career. And if you\u2019re raising your hand, and you\u2019re demonstrating that you want to learn and take up an accelerated career, there\u2019s a path for you.\u201d
The Elevate Runway programme is open to employees at all levels, allowing them to grow within the company. It sets a higher bar, focusing not only on compensation but also on the type of work and career path chosen by employees.
Around 400,000 employees have enrolled in the programme, with many qualifying for it. TCS also launched the mid-level Transformation programme (MLT) a few years ago, which has seen increased adoption from employees looking to acquire in-demand skills. The programme focuses on encouraging employees who have added significant value to the organisation but may have lost out on market-relevant competency to take on newer roles within the company.
TOI had reported that TCS has updated its variable pay policy to include work from office (WFO) as a crucial factor. The revised policy, which was implemented shortly after the company\u2019s quarterly results, has four attendance slabs that determine the variable pay for employees. \u201cThere are implications for people who\u2019re not coming to the office. We are bringing in more discipline. About 70% of our employees are back in the office. People are realizing the value of coming to the office, and it\u2019s creating positive energy in the system,\u201d Lakkad said, linking TVP to return to office is a temporary measure. \u201cThe idea is not to take away money from them but we will eventually give to people who are coming to office. We put this measure reluctantly but thought we have to do so.\u201d<\/div>\n