"Compared to the industry standards, the remuneration is less when compared with lateral recruits," the techie told HT, adding, "The effort by TCS to retain an employee after they put in their papers do cut it.
One of the major causes behind the strong attrition at TCS is its remuneration, said a Kolkata-based tech analyst who recently left TCS for another major IT firm. Industry experts often pointed out that attrition is an important human resources metric that indicates a lot about the direction of a company’s business, as well as the possible problems that need the attention of the HR managers. The IT giant’s net profit rose to ₹9,008 crore, between April and June, up from ₹7,008 crore a year earlier, while its revenue from operations jumped 18.5% to ₹45,411 crore.Įven as some of the big IT firms were expecting the attrition rate to inch up in the financial quarters to come, riding on the back of a talent war, outgoing employees make direct and indirect impacts on a company and its resources. In July, TCS announced a 29% rise year-on-year in quarterly profit, powered by higher demand from businesses ramping up digital services during the coronavirus disease (Covid-19) pandemic crisis, Hindustan Times’ sister publication LiveMint reported.
However, TCS reported that its employee headcount crossed the 500,000-mark in the quarter ending June 2021, when the company hit a total workforce of 509,058. The trend in employee attrition is a concern the IT firms were plagued by. IT companies such as Accenture announced their attrition rate for the first quarter of 2021-22 fiscal at 17% against 11% in the year-ago quarter., while Infosys and Wipro’s attrition rates were reported to be 15.2% and 12.1% in the fourth quarter of 2020-21 financial year. Industry experts often pointed out that attrition is an important human resources metric that indicates a lot about the direction of a company’s business, as well as the possible problems that need the attention of the HR managers.(Representative photo)Īccording to the report, it rose from 7.2% in the previous quarter-ending on Ma– even the attrition rate is pegged to be the lowest in the county. Indian IT major Tata Consultancy Services (TCS) reported an 8.6% attrition in the past year, in its results for the first quarter of the 2021-22 financial year.
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