TCS to hire 35,000 from campuses in FY16

TCS is the only IT company that so far has announced its FY16 hiring target numbers

Tata Consultancy Services, the country’s largest information technology services provider, will hire 35,000 from college campuses for 2015-16, for which it will visit 350-400 institutes. This is higher by 10,000 from the campus hiring it did for FY15.

TCS is the only IT company so far that has announced its FY16 hiring target numbers.

“We have begun the process of giving offer letters to freshers’ they will start joining from the next fiscal. We are also on target to add 55,000 employees for FY15. I think we might overshoot (that) target,” said Ajoy Mukherjee, executive vice-president and global head, human resources.

The company started the year by announcing the hiring target for FY15 would be 50,000. In the previous quarter, this was raised to 55,000. TCS does not give any growth forecast — generally, the hiring target indicates the growth demand it sees. TCS is among a handful of IT services companies that have stayed the course in terms of hiring in large numbers from campuses. For the quarter ended September, utilisation was at an all-time high of 86.2 per cent (excluding trainees). Including trainees, it was 81.3 per cent.

TCS has also managed to maintain a relatively low (staff) attrition rate. It was 12.8 per cent for the quarter.

It reported growth of 13.6 per cent for the July- September quarter profit at Rs 5,288 crore and revenue growth of 13.5 per cent on a year-on-year basis at Rs 23,816 crore. The quarter’s dollar revenue missed market estimates but the management has remained bullish about demand.