TCS rolls out 46,000 offers to freshers for FY24

TCS

Tata Consultancy Services has already rolled out offers to 46,000 freshers for the FY24, at a time that the industry has been marred by onboarding delays in a challenging macroeconomic climate.

Chief Human Resources Officer Milind Lakkad said that over 6,00,000 people had appeared for the company’s national qualifier test, and 46,000 offers have already been rolled out.

In FY23, the company has onboarded over 44,000 freshers, beating its target of 40,000 for the year.

The company onboarded roughly 2,000 freshers during the last quarter of the fiscal. It onboarded 15,000 freshers during Q2, 20,000 in Q2, and roughly 7,000 freshers in Q3FY23.  It hired over 1 lakh freshers in FY22.

“We are honouring all job offers, and have added 22,600 employees on a net basis in FY 23. During the year, we onboarded over 44K freshers and our highest-ever number of experienced professionals,” Lakkad said in a statement.

Speaking to the press, Lakkad said that the company honoured all its offers, and will continue to do so.

“There were some delays -- a month or two -- for onboarding people, but it will happen. We honoured all the offers. In future, no reduction in salaries, nothing. Whatever we are committed is what we offer,” he said.

The offer rollout comes at a time when the company’s net headcount addition has slowed significantly, adding just 821 employees on a net basis in Q4FY23.

The company added 22,600 employees in FY23 on a net basis, a steep decline from last fiscal’s 1.03 lakh.

Lakkad said that the company will be paying out 100 percent of the variable pay for the quarter, and upcoming hikes for high performers will be at 12-15 percent, as is standard. Other hike bands are 8 percent, 5 percent and 1.5 percent.