Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) is recognized as a Global Top Employer for the seventh year in a row by the Top Employers Institute. TCS is one of only 11 Global Top Employers recognized this year for excellence in people practices.
TCS is ranked the number one Top Employer in the United States, Europe and Asia Pacific; and number two in Latin America. In the country rankings, it is placed among the top three Top Employers across 19 countries for which the results have been announced – Australia, Hong Kong, China, India, Malaysia, Philippines, Singapore, Belgium, Denmark, Finland, Hungary, Netherlands, Sweden, Switzerland, Brazil, Chile, Saudi Arabia, United States and Mexico. In addition, TCS is named a Top Employer in the United Kingdom, France, Germany, Italy, Spain, United Arab Emirates, and South Africa.
To arrive at the list of toppers, the Top Employer Institute evaluates the HR practices of companies in 6 areas covering 20 functions, including people strategy, leadership, digital HR, employer branding, on-boarding, work environment, talent acquisition, career management, learning, well-being, engagement, ethics, sustainability, and diversity and inclusion.
“We are pleased to be named a Global Top Employer for the seventh consecutive year. Our commitment towards the success and wellbeing of our employees is paramount and through these challenging times, we continue to work towards bringing the TCS family closer and achieving greater successes together,” said Milind Lakkad, CHRO, TCS.
The Top Employers Institute recognized TCS for its employee-friendly workplace practices and continued investments in building up talent across the organization through professional development initiatives and digital skills programs.
The company’s continued investment in organic talent development, focus on upskilling and innovative training methods, learning platforms, and certifications, have resulted in industry-leading outcomes. It also organizes hackathons and contests to encourage gamified problem solving and to identify top notch talent. The company has trained over 421,000 employees on digital technologies. In the quarter ended December 2021, employees gained over 100,000 market-relevant skills.
TCS’ Contextual Masters program celebrates experienced employees who build up deep knowledge about the customer’s business and technology landscape on the job and use that contextual knowledge to create value. Over 38,000 individuals have been identified as contextual masters till date. This knowledge and the large pool of digital experts have been central to TCS’ engagement with some of the world’s top corporations in their growth and transformation initiatives.
TCS’ purpose-driven people culture and world-leading HR practices have made the company the global industry benchmark in talent retention. Its attrition rate in IT services on a last twelve months’ basis was 15.3% at the end of the December quarter, the lowest in the industry. TCS’ 556,000 employees represent a diverse workforce comprising 156 nationalities. It recently crossed a new milestone in its diversity journey, with the number of women in the workforce exceeding 200,000.
During the pandemic, TCS prioritized safety and wellbeing of employees by encouraging vaccination, promoting physical exercise, and sharing tips for healthy living. TCS’ HR team spearheaded wellbeing efforts by putting in place effective support mechanisms including guidance and counselling services.
David Plink, CEO, Top Employers Institute, said: “Reflecting on the demanding year that has, like the year before it, impacted organizations across the world, our global Top Employers have continued to prioritize going above and beyond to maintain their excellent people practices in the workplace. As a global Top Employer, TCS, has proved their unwavering commitment to their employees on an international level that spans numerous countries. They join a small group of companies that have achieved a global certification through the Top Employers Program. We are excited to celebrate and applaud them for their achievement in 2022.”