Reported By:
| Edited By: Swati Khandelwal |Source: Zee Business |Updated: Jan 17, 2019, 06:30 AM IST
N Ganapathy Subramaniam, chief operating officer, TCS, and Ajoy Mukherjee, EVP and head, global human resources, TCS, during an interview with Swati Khandelwal of Zee Business, spoke about the growth drivers, hiring and attrition, growth momentum and investment in skill development. Edited Excerpts:
Subramaniam: From the financial year perspective, we are well on the way to register double-digit growth. Overall order-book looks very strong and the total contract value (TCV) is $5.9 billion, which is in a healthy comes on the top of a $4.9 billion order-book we had in the first and second quarters. The US is growing well, and the UK and Europe are registering a 20% year-on-year growth. Barring one situation in retail, manufacturing and auto, we see that the demand outlook for our IT services is quite robust.
Subramaniam: We are very confident about it due to the trajectory. If you look at it where we started 2-3 quarters ago in the banking financial services, it rose from 2% to 4%, to 6%, to 8.6% right now. So, I think that we probably end the year if we are not double-digit, then would be close to it. The trajectory in the banking financial services looks on the upside, barring some macro-issues, which could affect the sector.
Mukherjee: There is a significant jump as far in hiring, as net hiring in this fiscal stands at 23,000 versus 7,700 in FY18. Taking out the last year, when we registered a slow hiring growth, we were hiring at least 25,000-35,000 on an average, and we are back to around 23,000 in the first nine months, and will be reaching to our usual kind of hiring rate as we go forward in this fiscal. So, I can't give the exact number, but we will keep hiring in this quarter and the hiring remains strong, as far as India and overseas is concerned. On attrition, we are happy with around 11.2 at this point and various factors will help us in controlling attrition. So we are at the industry benchmark in retaining people.
Mukherjee: We have been always saying that technology becomes legacy, not people. We hire people so that they make their career in TCS for a long term. We don't concentrate a person in only one technology, we give rotation. For instance, if someone working on dot(.)net will be moved to Java, analytics, and so on a different project and for different customers, different verticals, different geography, different countries. Such an opportunity helps in developing a different outlook for an individual, and as new technology is coming we invest in training people on the technology. Another benefit of that is as you are working with TCS for a longer period, you get a chance to understand the processes and customers, and how they work. This is something that we call as contextual knowledge, so that is very important in our domain.
Subramaniam: Out of the $5.9 billion value of our contracts, more than $1.3 billion came from North America, nearly $2 billion came from banking and financial services and $800 million from retail, but they were not mega deals. They are more secular and diversified deals, which is good. But specifically, to the question are we working on large deals, then obviously we are working on large deals, from bank, insurance, manufacturing and retail, but the cycle of those deals are quite long and will take around 12-18 months.
