Tata Consultancy Services (TCS) on Tuesday reported a total attrition rate of 10.9 per cent in the April-June quarter. That marked a slight recovery from 11 per cent in the previous quarter. Tata Consultancy Services' total attrition rate (including business processing services) fell to 11.7 per cent, the Mumbai-based company said in a regulatory filing. Attrition refers to the rate at which employees leave a company over time. A high attrition rate is often a cause of concern for employers.
Here are five things to know about Tata Consultancy Services' (TCS) attrition rate:
1. The global software major said its IT services attrition rate - over the last twelve months - fell by 0.1 per cent, or 10 basis points.
2. Total employee strength of TCS crossed the 4,00,000 mark at the end of the first quarter, and stood at 4,00,1875 on a consolidated basis.
3. "We continue with our investments in upgrading the technology skills of our people, while leveraging their contextual knowledge and domain experience. This has resulted in not only a very nurturing and dynamic work environment, but also a strong digital solutioning capability that delivers differentiated outcomes for our customers," said Ajoy Mukherjee, executive, vice president and global head, human resources, TCS.
4. The percentage of women in the workforce rose to 35.6 per cent, while the total number of nationalities represented grew to 143.
5. In the previous quarter, Tata Consultancy Services' attrition rate (LTM) had declined by 0.1 per cent to 11 per cent, while the total attrition rate (including BPS) fell to 11.8 per cent. Total employee strength at the end of Q4 stood at 394,998 on a consolidated basis.
Meanwhile, TCS reported a net profit of Rs.7,340 crore in the April-June quarter on Tuesday, above analysts' estimates. Net profit grew at about 24 per cent on a year-on-year basis compared to the June quarter last year.