TCS tops best companies to work for list
G. Seetharaman February 16, 2012"Why leave a Tata company?" Those words from his father were enough for Latesh Sewani, a chartered accountant in the corporate strategy team at Tata Consultancy Services (TCS), to reject a job offer from ICICI Bank in 2004. Never mind that it promised to nearly double his salary. "I haven't regretted my decision," declares Sewani. Being a part of the Tata Group meant everything.
Nitin Mohan found himself in a tight spot a year ago when his father fell ill. "All I had to do was drop a mail to my manager for a month's leave and he took care of all the insurance paperwork," says the team leader in the BPO arm of TCS. It is this personal connect that has helped TCS emerge as India's best company to work for in the Business Today-Indicus Analytics annual survey. Achieving that connect is no mean feat, considering that the company has 226,000 employees, from 103 nationalities, spread around the globe (Indians make up 93 per cent of the workforce).
Keeping employees productive and happy is a key objective for the company. And it seems to be succeeding handsomely. TCS has the lowest attrition rate in the sector, at 12.8 per cent, compared to 15.4 per cent for its nearest competitor, Infosys, which it pipped to the post in the BT-Indicus survey. That perhaps explains how nearly 70 per cent of the Tata company's total cost is incurred on personnel.
Today, TCS is well on its way to beating its projection of hiring 60,000 people this financial year. It made 43,600 campus offers between August and December 2011, the highest for the company in a single year. "They will start joining by the end of June. We have never deferred an offer," says Ajoyendra Mukherjee, the company's Vice President and Head, Global HR.
S. Vaidhyasubramaniam, Dean, Planning and development, of SASTRA University in Thanjavur, Tamil Nadu, corroborates that: "We have been associated with TCS for over a decade and we have never had any issues." The company has been recruiting from SASTRA since 2002. This year, it made offers to 1,755 final-year students from the university.
TCS's health care benefits are the best in the industry, says Mukherjee. "One of our initiatives is called 'Mpower'. As part of this, we have people managers at our centres and they deal with issues that employees might have." Another initiative, 'Maitree', reaches beyond employees, to their families, bringing them together for a number of cultural events.
Perhaps that's why Latesh Sewani wants to retire at TCS.