TCS Unveils Ambitious Plan to Hire 40,000 Freshers Amid Tech Industry Challenges
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[1]
TCS announces plans to hire 40,000 freshers this year
TCS's robust growth in Q2 includes hiring 5,452 employees, with plans to recruit 40,000 more this year. CHRO Milind Lakkad affirmed India's talent appeal amid AI concerns, emphasizing reskilling and a revamped variable pay policy linked to office attendance for 70% of returning employees.As the global IT sector undergoes significant transformations, India remains a pivotal hub for talent, adeptly navigating the tectonic shifts shaping the industry. In the June quarter alone, Tata Consultancy Services (TCS) added 5,452 employees, pushing its total headcount to 606,998. The company plans to hire approximately 40,000 freshers in the current financial year, continuing its robust recruitment drive. Milind Lakkad, TCS's CHRO, underscored India's enduring appeal for talent amidst diverse skill requirements and geopolitical challenges elsewhere. "India is the destination for talent, and that is not going to change in the near future," Lakkad affirmed. He emphasized TCS's initiatives to bridge academia-industry gaps through extensive reskilling and upskilling programs, uniquely positioned at scale. "I am very confident about a positive way forward for Indian talent," Lakkad added, optimistic about future achievements. Addressing concerns about AI impacting employment, Lakkad reassured that while technology reshapes job landscapes, TCS employees are adept at adapting. TCS has implemented salary increments ranging from 4.5% to 7%, with high performers receiving 10-12%. The Elevate Runway program further incentivizes career growth, particularly for junior employees doubling their compensation through accelerated learning paths. The program, open to employees across all levels, focuses not only on financial rewards but also on career advancement aligned with individual aspirations. Over 400,000 employees have enrolled, demonstrating its popularity and impact. Additionally, TCS's mid-level Transformation program (MLT) supports employees in acquiring market-relevant skills to take on new roles within the organization. TCS recently updated its variable pay policy to integrate office attendance as a critical factor, reflecting evolving work dynamics. Lakkad noted that while about 70% of employees have returned to office, the policy adjustment aims to maintain discipline and foster positive workplace energy. "The idea is not punitive but to incentivize office attendance positively," Lakkad clarified. As India's IT sector continues to evolve, TCS's proactive measures highlight its commitment to nurturing talent and adapting to global technological shifts, reinforcing its leadership in the industry. with TOI inputs
[2]
TCS announces plans to hire 40,000 freshers this year
TCS's robust growth in Q2 includes hiring 5,452 employees, with plans to recruit 40,000 more this year. CHRO Milind Lakkad affirmed India's talent appeal amid AI concerns, emphasizing reskilling and a revamped variable pay policy linked to office attendance for 70% of returning employees.As the global IT sector undergoes significant transformations, India remains a pivotal hub for talent, adeptly navigating the tectonic shifts shaping the industry. In the June quarter alone, Tata Consultancy Services (TCS) added 5,452 employees, pushing its total headcount to 606,998. The company plans to hire approximately 40,000 freshers in the current financial year, continuing its robust recruitment drive. Milind Lakkad, TCS's CHRO, underscored India's enduring appeal for talent amidst diverse skill requirements and geopolitical challenges elsewhere. "India is the destination for talent, and that is not going to change in the near future," Lakkad affirmed. He emphasized TCS's initiatives to bridge academia-industry gaps through extensive reskilling and upskilling programs, uniquely positioned at scale. "I am very confident about a positive way forward for Indian talent," Lakkad added, optimistic about future achievements. Addressing concerns about AI impacting employment, Lakkad reassured that while technology reshapes job landscapes, TCS employees are adept at adapting. TCS has implemented salary increments ranging from 4.5% to 7%, with high performers receiving 10-12%. The Elevate Runway program further incentivizes career growth, particularly for junior employees doubling their compensation through accelerated learning paths. The program, open to employees across all levels, focuses not only on financial rewards but also on career advancement aligned with individual aspirations. Over 400,000 employees have enrolled, demonstrating its popularity and impact. Additionally, TCS's mid-level Transformation program (MLT) supports employees in acquiring market-relevant skills to take on new roles within the organization. TCS recently updated its variable pay policy to integrate office attendance as a critical factor, reflecting evolving work dynamics. Lakkad noted that while about 70% of employees have returned to office, the policy adjustment aims to maintain discipline and foster positive workplace energy. "The idea is not punitive but to incentivize office attendance positively," Lakkad clarified. As India's IT sector continues to evolve, TCS's proactive measures highlight its commitment to nurturing talent and adapting to global technological shifts, reinforcing its leadership in the industry. with TOI inputs
[3]
TCS announces plans to hire 40,000 freshers this year - ET Telecom
TCS's robust growth in Q2 includes hiring 5,452 employees, with plans to recruit 40,000 more this year. CHRO Milind Lakkad affirmed India's talent appeal amid AI concerns, emphasizing reskilling and a revamped variable pay policy linked to office attendance for 70% of returning employees.
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Tata Consultancy Services (TCS) announces plans to hire 40,000 freshers in the current fiscal year, maintaining its commitment to talent acquisition despite industry headwinds. The move comes as part of TCS's strategy to build a robust talent pipeline and meet growing client demands.
TCS Announces Massive Fresher Hiring Initiative
Tata Consultancy Services (TCS), India's largest IT services company, has revealed its plans to hire 40,000 freshers in the current fiscal year. This announcement comes as a beacon of hope for job seekers in the technology sector, especially at a time when the industry is facing various challenges
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.Maintaining Hiring Momentum
Despite the ongoing slowdown in the tech industry, TCS has decided to maintain its hiring targets. This move demonstrates the company's confidence in its growth prospects and its commitment to building a strong talent pipeline. The decision to hire 40,000 freshers is in line with TCS's previous year's recruitment numbers, indicating a steady approach to talent acquisition
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.Strategic Talent Acquisition
TCS's Chief Human Resources Officer, Milind Lakkad, emphasized that the company will honor all offers made to freshers. He stated, "We will be onboarding all the people whom we have given offers." This commitment underscores TCS's dedication to nurturing young talent and integrating them into its workforce
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.Industry Context and Challenges
The IT services sector has been grappling with challenges such as project delays, budget cuts, and economic uncertainties. Many tech companies have implemented hiring freezes or even layoffs. However, TCS's decision to continue with its robust hiring plans sets it apart from its peers and reflects its long-term strategic vision
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.Focus on Skill Development
As part of its hiring strategy, TCS is likely to focus on recruiting candidates with diverse skill sets. The company has been investing in training programs to ensure that new hires are equipped with the latest technological skills required to meet evolving client demands. This approach aligns with the industry's shift towards emerging technologies such as artificial intelligence, cloud computing, and data analytics
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Impact on the Job Market
TCS's announcement is expected to have a positive impact on the job market, particularly for fresh graduates from engineering and technology backgrounds. It provides a ray of hope for students who are about to enter the workforce, especially considering the current economic climate. The move may also encourage other IT firms to reconsider their hiring strategies and potentially follow suit
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.Future Outlook
While the hiring announcement is a positive sign, industry experts caution that the overall IT sector may continue to face headwinds in the short term. However, TCS's commitment to large-scale fresher hiring suggests that the company is preparing for future growth and anticipates an uptick in demand for its services. This proactive approach could position TCS favorably when the market conditions improve
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