India's largest IT services firm TCS added over 40,000 employees in FY21 and 19,388 between January and March 2021, highest ever in a quarter.
The company has also reported an all-time low attrition rate of 7.2 percent. The IT services major will hire 40,000 freshers in FY22, same as that of FY21. Total employee count at the end of the year stood at 488,649.
With over 10 percent year-on-year (YoY) growth in revenues at $5.989 billion, the company has closed the year on a strong note.
The company signed deals worth $9.2 billion in the fourth quarter, up 35 percent from the $6.8 billion in deals in Q3 FY21. This is the highest-ever total contract value the company reported in a quarter.
Last two quarters have seen demand return with the company signing large deals. Three key deals signed in the fourth quarter include Vodafone Ziggo, BankservAfrica, and Three UK, according to brokerage firm Investec.
However, this means increased demand for skills for execution of these projects.
Top IT and tech firms have hundreds of positions open with Accenture alone reporting over 18,000 job openings across the service lines. Skills that are in most demand include full stack developer, machine learning, and data analytics.
In an interaction with Moneycontrol in January, CFO V Ramakrishnan said that the company will hire about 40,000 employees in FY22, similar to last year.
While the company’s attrition is at an all-time low, it is not clear if this is sustainable with firms willing to pay premium for the top talent.
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