In the dynamic world of IT hiring, TCS is forging ahead with its ambitious plan to hire 40,000 campus recruits in the current fiscal year, reaffirmed COO N Ganapathy Subramaniam. This was confirmed by the COO, N Ganapathy Subramaniam. While its peers, like Infosys, have opted out of campus recruitment this year, TCS is standing firm on its commitment.
Subramaniam shared insights into TCS's hiring strategy, emphasizing that they traditionally hire between 35,000 to 40,000 individuals and this year will be no exception. He assured that TCS is prioritizing enhancing utilization and not contemplating large-scale layoffs. The company intends to closely evaluate demand before considering adding laterals to its talent pool, especially assessing the outlook for discretionary spending.
In response to market dynamics, TCS is adapting its hiring plans to ensure optimal utilization, particularly concerning discretionary spending. Subramaniam said that when the company doesn't spend much on non-essential things, they hire less experienced people from other companies. Looking back at last year, many employees left TCS, so they hired more people than needed to have extra skilled workers available. Currently, the company's utilization rate stands at 85%, a deviation from the usual 87-90%.
He also highlighted that TCS maintains a 'bench' comprising approximately 10% of its total workforce. These ready & skilled employees are available to work on different projects as needed.
As of July 2022, TCS has a huge team of over 556,000 employees from 156 different countries. Along with hiring new people, the company is dedicated to having a strong group of skilled individuals and making sure they follow high standards of honesty, recently addressing concerns related to cash-for-jobs allegations with appropriate disciplinary actions.
TCS continues to march forward, aligning its hiring strategies with evolving market dynamics and maintaining its reputation as a leading IT giant. Stay tuned for more updates on TCS's endeavors in the tech realm!