After hiring 70,000 new employees last year, Tata Consultancy Services Ltd's (TCS) outsourcing services unit plans to hire 60,000 workers this fiscal, indicating strong demand for its services.
According to the company its annual projects sales which have quadrupled since 2005 to $8.4 billion, would increase 20 per cent a year for the ''foreseeable future.'' This means Tata Consultancy, Infosys Technologies Ltd, and Wipro Ltd would need to find thousands of qualified candidates as global IT purchases grow 7.1 per cent this year to $1.7 trillion.
Leveraging its low cost IT work force successfully, Tata Consultancy outpriced more expensive labour in developed countries to win large contracts with Deutsche Bank AG, Hilton Worldwide Inc and Air Liquide SA last fiscal year. Tata Consultancy, which is, Asia's largest computer-services provider by market value, reported record annual income of $2 billion.
According to Ajoyendra Mukherjee, Tata Consultancy vice president for human resources, as long as there was growth the company did not like to leave business on the table. He added that what the company was trying to do was to make sure the supply chain was large enough to meet its growth requirements in future.
Rajan Kohli, chief marketing officer at unit Wipro Technologies said the spike in attrition over the last four quarters was essentially because of pent up demand. He added there was not enough bench to fulfill that demand and people ended up hiring from each other.
To check the exodus, Tata Consultancy would offer raises of 12 per cent to 14 per cent the highest in three years, Mukherjee said in April. Around the same time Infosys chief operating officer SD Dhumal said Infosys was expected to boost salaries for domestic workers by 10 per cent to 12 per cent this fiscal.