Tata Sons chairman N Chandrasekaran on Friday said Tata Consultancy Services (TCS) remains one of the top recruiters outside India and visa restrictions in the US has had no impact on the largest software services provider in the country.
Addressing the annual general meeting of TCS, his first at a Tata group company after taking over as the Tata Sons chief, Chandrasekaran said, “on the ground, nothing has changed” and the company continues to operate “successfully” globally, including its largest market, the US. The company added 79,000 employees in FY17 and its female workforce grew to 34 per cent of total employees. Retention was also not a concern, with TCS having one of the lowest attrition rates in the industry at 11.7 per cent, he said.
He said TCS adheres to local laws in every country it operates in and is among the “top recruiters” in each of those markets, including the US, which is the largest for the IT sector, and the domestic industry netting almost 65 percent of their income.
TCS had drastically reduced the number of visa applications to the US to a third of the normal, much before Donald Trump came to occupy the White House. It had also said it would be hiring 10,000 in the US, the largest revenue contributing geography.
Chandrasekaran said global business environment is increasingly adopting digital and the world is transforming fast. With business leaders speaking of data as the new oil, the head of the salt-to-software conglomerate said data excellence will be the most important theme in the future and hold true for all the sectors beyond IT.
He said TCS has trained two lakh employees with six lakh competencies on the emerging digital technologies. Seeking to address the concerns on the future, Chandrasekaran said TCS has seen many disruptive changes over its journey and has continued to stay relevant by being ahead of the curve. He said TCS’ digital revenue grew 28 per cent to $3 billion in FY17.