Good news for techies; TCS to hire 50,000 in FY 13

Mumbai, Apr 23: Software major Tata Consultancy Services (TCS) said it is planning to hire 50,000 people in FY 13.

"TCS is well prepared to achieve balanced growth across industries and markets it operates in FY 13. In view of good momentum, we are targeting to hire 50,000 people this year," TCS CEO and MD N Chandrasekaran told reporters here. In view of excellent growth in North American and UK markets, we will continue hiring in the overseas markets, he said.

"We are hiring employees in the USA, including trainees. We will be visiting campuses in the USA during the fall semester," Executive Vice President, Head, Global Human Resources Ajoy Mukherjee said. Commenting on wage hike, Chandrasekaran said the company has gone ahead with wage increase and employees will get hike of 8 percent on an average depending on their grades. He also said that though there is a dip in volume growth, in Europe, this is expected to pick up in the next quarter.

The company had successfully undertaken the largest ever hiring effort in its history by adding and integrating 70,400 professionals during 2011-12. "With business demand continuing to be robust, we have made 43,600 offers on campuses for trainees to join us from the second quarter of this fiscal year. Our efforts to increase retention by engaging with our employees and offering them a progressive career path are paying dividends with attrition rates falling further to 12.2 per cent," Mukherjee said.

The company has maintained high utilisation rates in the fourth quarter with utilisation excluding trainees at 80.6 per cent, while utilisation including trainees was at 71.3 per cent. The overall attrition rate was lower at 12.2 percent with IT attrition at a low of 11.05 per cent and BPO attrition at 21.6 percent. The average age of a TCS employee is 28 yrs and 62.4 percent of the workforce have more than 3 yrs experience while 31.6 percent of the workforce comprised of women.

PTI