With the easing of lockdown norms, Companies like TCS are planning to call their staff back to work from the office. Because of the rising covid-19 cases and impositions of lockdowns, companies had to change the way they used to work. The offline business went online and Work from home became a new normal.
As per the reports, Mumbai-based multinational firm Tata Consultancy Services (TCS) is planning to ask its workforce to come back to the office by 2021-end since a majority of them are fully vaccinated. The IT Consultancy firm expects 70-80 per cent of people to join back the offices based on how the third wave turns out.
“We expect that sometime towards the end of the calendar year or early next year, and depending on how this third wave turns out, we will get back to 70-80 per cent (of the people) in the office,” TCS CEO Rajesh Gopinathan told the Economic Times.
Many firms are likely to follow TCS’ decision to call back the employees to the office. Also, many surveys suggest that a considerable amount of employees want to join back the offices and meet their team in real. Face-to-face meetings help employees to brainstorm on a project more productively.
Edelman Data x Intelligence, a research firm, conducted The 2021 Work Trend Index survey on more than 30 thousand employees (full-time and self-employed) across 31 countries, between January 12 to January 25 2021. They found that over 65 per cent of the respondents told that they want to go back to in-person meetings with their teams. Due to the COVID-19 pandemic, TCS allowed its employees to work remotely.
Speaking on acquisition plans, TCS having a market cap of nearly $195 billion has no plan to utilize its market cap in large acquisitions as it is cautious of current valuations. Instead, it may acquire companies that provide it with more “capability access”, the report added.
The market capitalization of Tata Consultancy Services (TCS) zoomed to Rs 14, 20,935.10 crores last week. It is the most-valued firm after Mukesh Ambani’s Reliance Industries.
TCS owns nearly 15% share in India’s $150 billion software exports and employs about one-tenth of India’s 4.6 million IT workforce. “We’re just too conservative for today’s market. So our market cap might be high. But still, when it comes to paying out cash, we’re conservative. We like to play like Dravid,” Gopianthan further told the publication.