Tata Consultancy Services (TCS) is set to bolster its workforce by hiring 40,000 freshers this year. This move comes after the successful implementation of a new attendance policy that brought 70% of its employees back to the office. The new policy, which ties variable quarterly bonuses to office attendance, has been a significant factor in this transition.

TCS has recently increased its total workforce to 606,998 employees after adding 5,452 new members last month, says a report published by India Today. Milind Lakkad, TCS Chief HR Officer, who spearheaded the new variable policy and the return-to-office plan, emphasized India's pivotal role in the global talent market despite the challenges in skill development and geopolitical landscapes elsewhere.

"India is the destination for talent, and this will not change in the near future," Lakkad stated, highlighting the company's focus on bridging the gap between academia and industry through upskilling and reskilling initiatives. These efforts aim to equip employees with the necessary skills to adapt to new technologies and roles.

Lakkad also expressed confidence in the positive trajectory of India's talent pool. He noted that TCS employees have been quick to adopt advancements in artificial intelligence, furthering their skill sets. To recognize and reward its top performers, TCS has granted a salary increase of 10-12% and has also raised overall employee salaries by 4.5% to 7%.

He clarified that the policy was not punitive but a necessary step. “We have come to a point where with just 70 per cent plus number I'm very happy. The point of whether we continue for one quarter, two quarters, three quarters or for the year is something we'll decide. This is not something that we want to do to punish people. This is the last measure we have taken now. The last measure we have taken to basically make sure that people who do not understand or have not yet understood the value of coming to work, they do understand.”