Worried about getting a job in these times of pandemic; don’t . TCS will hire 40,000 freshers in campus hiring this year.
V Ramakrishnan, Chief Financial Officer (CFO) and Milind Lakkad, Chief Human Resources Officer (CHRO) at Tata Consultancy Services (TCS) talk about COVID’s impact on their business, Q1FY21 numbers, recovery, hiring, the impact of H-1B visa ban and work from home facility provided to employees at TCS.
Tata Consultancy Services(TCS) being one of the biggest IT exporters wishes to hire the same number of employees as last year despite the loss in this quarter due to the COVID-19 fallout. They also plans to double the number of US campus hiring upto 2000 to reduce the dependency on H-1B and L-1 work visas, which are becoming difficult to get.
TCS, reported a 13.81% fall in its net profit for the first quarter ended on June 30, 2020. The company posted a net profit of Rs 7,008 crore for the period, as against a profit of Rs 8,131 crore posted in a similar quarter last year, which is a huge difference to be taken care of.
According to V Ramakrishnan(CFO) and Milind Lakkad(CHRO), the US government’s decision to suspend the H-1B and L-1 work visas is quite unfair and it might lead to down fall in the profit rates on a short term basis; which show the positive attitude about regaining the balance of business.
In the US, TCS has also been recruiting graduates from the top 10 B-schools, apart from engineers. It’s hiring both freshers and experienced professionals for key business roles. TCS has hired more than 20,000 Americans since 2014.
“Our key strategy for building from the bottom doesn’t change. The 40,000 (in India) might become 35,000 or 45,000 — that’s a tactical call we will make,” global HR head Milind Lakkad as saying. Which is a reflection of company’s view that the business will bounce back on track within the next half year.
Lakkad also mentioned that, TCS has honoured all the 40,000 offers it made last year. The freshers will join beginning mid-July; about 87% of the 40,000 are already active on their learning platform. TCS is also in the process of hiring over 100 experienced professionals for different positions. This number was almost negligible in the last quarter.
From a highly centralized model, with large campuses accommodating thousands of employees, TCS is switching to an extreme form of distributed delivery. However, the company does not plan to offload any of its real estate assets. By 2025, the plan is to ensure that employees will be able to realize their full potential without spending more than 25% of their time in a office.