TCS on Thursday said it is looking at hiring 55,000 resources in FY 2014 against the earlier target of 50,000.
The IT outsourcing company said it continued to hire to support business growth. In the third quarter of 2013-14, the total gross addition of employees was 14,663 (net addition of 5,463 employees) taking the total employee strength to 290,713, said TCS on Thursday.
The utilization rate (excluding trainees) was at 84.3 percent and that including trainees was 77.5 percent. The attrition rate (LTM) was stable at 10.9 percent including BPS. The attrition rate in IT was at 10.3 percent, while BPS attrition fell to 13.4 percent.
The plan to hire more reflects TCS’ confidence in revenue in FY 2015. TCS CEO says year 2014 will be better than 2013.
Meanwhile, TCS said its Q3 revenue rose 32.5 percent to Rs 21,294 crore, while profit increased 49.6 percent to Rs 5,314 crore.
“To support business growth, we have increased our hiring target by a further 5,000 employees for the current financial year to 55,000 professionals,” said Ajoy Mukherjee, executive vice president and Global Head, Human Resources. “Our efforts to push the utilization lever is paying dividends with utilization rates including trainees rising to 77.5 percent and that excluding trainees at over 84 percent.”