TCS onboards 46000 freshers, HR head promises 100 per cent variable pay for existing employees

By India Today TechEarlier reports suggested that IT companies like TCS and more are delaying onboarding of freshers. But Tata Consultancy Services (TCS) chief of Human Resource now says that the company has rolled out offers to 46,000 freshers for FY24. The HR head, Milind Lakkad, also said that the IT company honours all job offers. This is unlike what is happening at many other IT firms.

“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 an official statement as reported by Business Today. He reiterated that over 6,00,000 candidates had appeared for the company’s national qualifier test and around 46,000 offers rolled out.

The Chief HR officer highlighted that in FY23, the company onboarded over 44,000 freshers, which is higher than its annual target. It is further said that TCS onboard roughly 2,000 freshers during the last quarter of the fiscal. The IT firm offered 15,000 freshers during Q2, around 20,000 in Q2, and roughly 7,000 freshers in Q3FY23, the HR head further noted. Overall, the firm hired over 1 lakh freshers in FY22.

Lakkad said that TCS honors all its offers and will continue to do the same. “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.

While TCS has decided to honour all offers to freshers, few other IT companies are revoking offers. Recently, another IT firm, LTIMindtree, delayed onboarding of freshers. As per reports, LTIMindtree issued the offer letter to around 600 – 700 freshers but no one has joined the firm officially yet. Instead, the company is asking all fresher candidates to appear for a new training programme to prove their eligibility. It is also said that these freshers were offered the job offer in January 2022, which is more than a year ago.

Additionally, the TC HR head also said that the company will pay out 100 per cent of the variable pay for the quarter and also that the upcoming hikes for high performers will be at 12-15 percent, as is standard. Other hike bands are 8 per cent, 5 per cent and 1.5 per cent. The statement comes after reports circulating on the internet suggested that IT companies, including TCS will cut variable pay for existing employees.