TCS might increase FY14 hiring

May cross 300,000 employee headcount in this fiscal

Tata Consultancy Services (TCS) on Tuesday said it might increase its hiring number for FY14. The news will cheer thousands of engineering students, who were concerned as information technology companies were going slow in hiring.

"We have been able to increase our utilisation substantially. Utilisation including trainees was 75 per cent, an improvement of 70 basis points. Since utilisation has gone up, we may look at increasing our hiring targets for this fiscal. We have not yet arrived at a number but in our review, we have decided to take this up for discussion," said N Chandrasekaran, chief executive director and managing director.

TCS added 17,362 employees during the quarter (net addition 7,664) taking its total headcount to 285,250. The total hiring target for FY14 was 45,000 (including laterals). TCS which has started its campus recruitment plan for FY15 has given offer letters to 25,000 engineering students (freshers) for FY14.

This also means that the company in all likelihood cross the 300,000 mark in employee count before the end of fiscal 2014.

The company yet again also managed to have industry leading drop in attrition levels. The attrition rate was 10.9 pe cent incouding BPO. Attrition in the iT segment was 9.9 per cent, while BPO it was higher at 16.3 per cent.