TCS rewards employees for growth

BANGALORE, INDA: Tata Consultancy Services, the IT services, business solutions and outsourcing firm reported its consolidated financial results on Thursday with positive growth and announced to share this with the employees by giving away higher perks.

“In FY10, we have been through an entire business cycle where controlled hiring in the first two quarters gave way to rapid recruitment in the last two quarters. We have made 20,000 campus offers for FY 11,” said Ajoy Mukherjee, vice president, head, Global Human Resources.

“Our initiatives to provide a holistic professional career for our employees has helped keep attrition rates stable. We are going to pay 1.25 times the potential amount earmarked for this quarter. We have achieved better results..therefore there is a proportionate reward distributed among our employees,” he added.

Attrition rates continued to be stable at 11.8 per cent on an LTM basis. Overseas nationals formed over 10,700 or 6.7 per cent of the total employee base with employees from 80 different nationalities. The average age of a TCS employee is 28 years; 57 per cent of the workforce has more than 3 years of experience; and 30 per cent of its workforce are women.

Mukherjee informed that TCS has completed appraisals of 120,000 employees well in time. Increment letters will be going to employees next week.