The IT giant’s net profit rose to ₹9,008 crore, between April and June, up from ₹7,008 crore a year earlier, while its revenue from operations jumped 18.5% to ₹45,411 crore.Įven as some of the big IT firms were expecting the attrition rate to inch up in the financial quarters to come, riding on the back of a talent war, outgoing employees make direct and indirect impacts on a company and its resources. In July, TCS announced a 29% rise year-on-year in quarterly profit, powered by higher demand from businesses ramping up digital services during the coronavirus disease (Covid-19) pandemic crisis, Hindustan Times’ sister publication LiveMint reported. However, TCS reported that its employee headcount crossed the 500,000-mark in the quarter ending June 2021, when the company hit a total workforce of 509,058. The trend in employee attrition is a concern the IT firms were plagued by.
IT companies such as Accenture announced their attrition rate for the first quarter of 2021-22 fiscal at 17% against 11% in the year-ago quarter., while Infosys and Wipro’s attrition rates were reported to be 15.2% and 12.1% in the fourth quarter of 2020-21 financial year. Industry experts often pointed out that attrition is an important human resources metric that indicates a lot about the direction of a company’s business, as well as the possible problems that need the attention of the HR managers.(Representative photo)Īccording to the report, it rose from 7.2% in the previous quarter-ending on Ma– even the attrition rate is pegged to be the lowest in the county. Indian IT major Tata Consultancy Services (TCS) reported an 8.6% attrition in the past year, in its results for the first quarter of the 2021-22 financial year.
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