Image Credit: Wikimedia Commons

In the fiscal year 2021-22, India's largest IT services company, Tata Consultancy Services, or TCS, would hire around 40,000 freshers from Indian campuses.

With more than 5 lakh people, the company, which is the largest employer in the private sector, employed 40,000 graduates from universities in 2020 and plans to increase that figure, according to Milind Lakkad, the company's chief of global human resources.

He went on to say that the coronavirus pandemic-related hiring limits aren't a problem and that last year, a total of 3.60 lakh freshers took a virtual entrance exam.

"From the campus in India, we hired 40,000 last year. We will continue to hire and hire 40,000 or more this year in India," This season will be "robust" in terms of lateral hiring, according to Lakkad.

Also Check Out -

Attrition at Cognizant is at 29%, and the company plans to hire 30,000 people in India.

Vacancies for 10th and 12th pass students with a pay of up to Rs 81,000 are available in India Post Recruitment 2021.

Paytm will be hiring 20,000 executives and paying them Rs 35,000 per month!

Similarly, he said, the corporation will do a better job with the 2,000 trainees employed from American colleges last year, without giving a precise figure.

According to a PTI article, hiring from universities requires a lot of planning, and it's not 'just-in-time' hiring when a business agreement is inked up. It often takes over three months before a resource is assigned to a project.

N Ganapathy Subramaniam, the company's chief operating officer, said there is no shortage of talent in the country and dismissed concerns about its cost. Given their skill sets and work culture, he described Indian brilliance as "phenomenal."

Rajesh Gopinathan, the company's chief executive and managing director, said the company is frequently asked if it is too big, but that the way it is structured makes it possible from a management and nimble-footedness standpoint.

TCS has separated the organisation into small, autonomous organisations with top-level support, allowing it to deal with issues, he added, pointing out that various entities, such as railways, armed forces, and political parties, operate with enormous pools of personnel.

Lakkad stated that the corporation anticipates the current low attrition rate of 8% to increase once the situation stabilises, noting that normal levels are between 11 and 12 per cent. He noted that even if attrition increases, the company's operating style can ensure that work and margins are not damaged.

Even while the firm anticipates discretionary spending to normalise by the end of the fiscal year, it is a minor part of its overall expenditures, according to Samir Seksaria, the company's newly appointed chief financial officer. He said that there are other levers to reduce expenses, adding that there are no structural barriers to achieving the intended operating profit margin band of 26-28 per cent, which was missed in the first quarter.

(Source: Livemint)