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TCS Employees: Promotions twice a year

By SiliconIndia  |   Tuesday, 18 January 2011, 22:24 Hrs   |    11 Comments
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TCS Employees: Promotions twice a year
Mumbai: Tata Consultancy Services (TCS), the Indian IT export giant is reviving its promotion policy for senior level management in a bid to retain more staffers. TCS used to have two cycles of promotion at the senior level, but stopped the practice when recession set in 2008.

Last quarter TCS made similar announcement for the junior employees to make promotions on the quarterly basis which had an impact as the attrition rate(14.4 percent) of the company for this segment has come down. Ajoy Mukherjee, Vice- President, Global Head of Human Resources said, "Starting from this January we will make the senior promotions twice a year. During the course of the year, several employees go through a change in their roles due to dynamic business environment. Such employees will be eligible for promotions in January and the second round will happen in June."

Increments will be given to the employees of TCS in April this year. Mukherjee didn't give the exact quantum of the hikes citing the company is still in the process of budgeting for the same. Company registered 30 percent rise in net profit for the quarter ended December 31 to 2,370 crore. Revenue went up by 26.3 percent at 9,663 crore.

Apart from retaining their current management, TCS is also working on keeping their strength intact by maintaining their hiring spree. It has already released 23,696 offer letters at 171 campuses they visited. They are keen on giving out 37,000 letters for the next fiscal. For 2011, company has given out 20,000 letters to campus recruits. Mukherjee says, "There's no talent crunch in software industry and we prefer hiring fresher over lateral and groom them to be absorbed in the system."

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Posted by:rfhrtt - 09 Dec, 2011
7: TCS Q4 2011 Results are out
When are the promotions coming
Eagarly waiting to hear now
Posted by:Latent Hire TCS - 23 Apr, 2011
8: It will be great to see if TCS mgmt gives early promotion to the employees whose promotion got delayed in 2008-09 even when they were eligible and got approval .Then it will be a big morale booster across the board.
Posted by:Old TCSer - 19 Jan, 2011
9:
its a strategy in IT Market to keep floating news.Promotion in TCS is kind of rarely seen thing due to increased to huge numbers.thy dont care of morale boosting
Ex-TCSer Replied to: Old TCSer - 19 Jan, 2011
10:
They dont really care too much about morale boosing. The extra hiring to for number boosting, to replace the ones that leave. Soo much for "morale" boosting!
Jai Replied to: Old TCSer - 19 Jan, 2011
11:
Restore Early retired people from TCS due to recession in 2009 instead multiple promotions.
Milind Barsode Replied to: Jai - 20 Jan, 2011
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