In its results for the first quarter of the financial year, Indian IT major Tata Consultancy Services (TCS) reported an 8.6% attrition in the year gone by. As per the report published by the company the attrition rate rose from 7.2% in the quarter ended in March 2021. Even though the attrition rate has increased from the previous quarter it is being considered as lowest in the county.
While the attrition rate of TCS has decreased year on year, the rest of the industry is seeing a reverse scenario. Another IT giant Accenture announced a rise in attrition rate from a year ago. The company had announced an attrition rate of 11% in the June 2020 quarter. That attrition rate has risen to 17% in this year during the same period. Infosys and Wipro’s attrition rates were reported to be 15.2% and 12.1% in the fourth quarter of the 2020-21 financial year.
Let’s look at five major reasons why TCS has the least attrition as compared to its counterparts
Flexible working hours
The company boasts of flexible working model as confirmed by 62% of its employees. Apparently 40% of its employees for 8 to 10 hours a day whereas 35% work for 5 to 6 hours and 23% giving 10 or more hours per day for their work.
Salary
41% of the employees of TCS vouch for the fact that TCS follows market standards as defined by the experience of the employees. A standard increment process is also followed by the company. 62% of employees are given less than 10% increment, 22% employees are given 10 to 15% increment, and 6% employees get 15 to 20% as per their performance and experience.
Training
22% of professionals are trained by the company more than six times a year. 29% of the employees have done training 3 to 5 times a year whereas 33% receive training 1 to 2 times a year.
Promotion
39% of the employees that have worked at TCS for more than three years, 28% working for 2 to 3 years, 26% of employees for 1 to 2 years and 6% of employees working for less than a year have been promoted.
Getaways
TCS organizes off site parties four entertainment and motivation of the employees. As per reports, 23% of professionals attended the parties annually.
