Date:29/07/2004 URL: http://www.thehindubusinessline.com/2004/07/29/stories/2004072901061900.htm

Back `TCS has lowest attrition rate'

Our Bureau

Mangalore , July 28

TATA Consultancy Services (TCS) Ltd has the lowest attrition rate in the industry, according to the company's executives. They were here to participate in a road show on TCS IPO for which bids will be opened on July 29.

Mr Rajesh Nambiar, Chief of Operations, Hyderabad Region, told presspersons here that the attrition rate on Indian payrolls is 6.5 per cent for the financial year 2004.

Stating that the attrition rate of TCS was maintained at a minimum level compared to its competitors in the industry, Mr Nambiar said it was 3.6 per cent during 2001-02, and 2.8 per cent during 2002-03.

The success of the company depends to a great extent on its ability to recruit, train and retain high quality IT professionals.

Mr Nambiar said that investment in research and development is essential in this industry to remain in the race.

Asked about the outcry against outsourcing in the US, Dr Ravi Gopinath, Vice-President, TCS, said that it is a topical phenomenon. This has not made any fundamental impact on the company.

He felt that the clients would make business decision relevant to them.

Mr V. Ramakrishnan, Vice-President, Finance, was also present.