TCS Named a Leader in Talent Readiness for Next-generation IT Services by Everest Group
Report Cites Tata Consultancy Services' Industrialized Model for Organically Skilling and Developing Capabilities for Next-generation IT Skills, Learning Platforms, and Agile Centers, as Strengths
NEW YORK and MUMBAI, India, Jan. 24, 2020 /PRNewswire/ -- Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been recognized as a Leader in the Everest Group PEAK Matrix® for Talent Readiness for Next-generation IT Services1.
The report cites TCS' well-established industrialized model for organically skilling and developing capabilities for next-generation IT skills, and investments in learning platforms and training solutions that have helped it conduct reskilling initiatives at speed and scale, as key strengths.
Another strength mentioned is its accelerated investments in setting up agile development centers and modern workspaces that have helped TCS add higher value in customer relationships. According to the report, customers have highlighted TCS' training programs, and strong focus on measuring and monitoring proficiency levels of talent for enhancing project readiness, as key win themes.
"Our young, diverse workforce is a key element enabling us to drive innovation and transformation for customers. We value individuals for the contextual knowledge they possess and will continue to invest in equipping them with newer technology skills," said Milind Lakkad, Global Head, Human Resources, TCS. "This recognition is a validation of our large-scale investments in organic talent development initiatives that are delivering industry-leading learning outcomes."
TCS focuses on attracting new talent while investing in organic talent development to help employees acquire new skills, explore new roles and realize their potential. Its National Qualifier Test has democratized access to employment opportunities and attracts over 300,000 engineering graduates across India every year. The company's North America Fresher Program has also scaled well, and now absorbs a relatively large number of students.
The company follows an inclusive, phygital, and gamified reskilling approach characterized as 5A – anytime, anywhere, any device, anyone, any content – and has built a stimulating environment that nurtures continuous learning, fosters innovation, and builds a result-oriented, high performance culture. A majority of its next-gen skills needs are internally fulfilled through upskilling, reducing the need for reactive hiring and ad-hoc contracting. The reimagined approach to learning and development has helped the company train over 327,000 employees on digital technologies and over 404,000 employees on Agile methodologies.
Women make up 36.2 percent of the workforce, making TCS one of the largest employers of women in the world; while Gen Y makes up 85 percent of the workforce. A strong localization focus has helped it create a diverse workforce consisting of people from 146 nationalities, fueling innovation in customer engagements. By creating a vibrant, enriching and fulfilling workplace, TCS has established an industry benchmark in talent management and retention.
"Talent needs are changing at an unprecedented rate due to rapid evolution and adoption of technologies, as well as acute supply shortage. As a result, enterprises are investing in talent development in collaboration with an ecosystem of partners to build next-generation IT services skills at speed and scale," says Ronak Doshi, Vice President, Everest Group. "TCS has made a concerted effort to create a skilled supply pool via initiatives such as joint centers of excellence with technology vendors, CTO organization-led R&D, and large-scale learning & development. TCS has sustained a lower attrition rate in comparison to similar-sized peers, with programs such as predictive attrition modeling, career development, and large-scale reskilling."
"Our employee-centricity, unique learning ecosystem, and diversity-focus enables us to attract, motivate and retain the right talent. This has been a key contributor for TCS' continued success," added Milind Lakkad.
Recently, TCS also won the ATD Best of the Best award from the Association for Talent Development, several Stevie awards for HR excellence and talent building, and the Top Employer award across multiple countries from the Top Employer Institute.
About Tata Consultancy Services Ltd.(TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world's largest businesses in their transformation journeys for the last 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 446,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $20.9 billion in the fiscal year ended March 31, 2019, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.
TCS media contacts:
1 Talent Readiness for Next-generation IT Services PEAK Matrix® Assessment 2020: Closing the Demand-Supply Gap, Ronak Doshi, Everest Group, December 2019
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SOURCE Tata Consultancy Services
Company Codes: Bombay:532540, India:TCS
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