HCL Rejects H-1B Dependency By Hiring More Americans; Will Also Hire 30,000 In India
HCL has chosen a business model wherein more Americans will be hired, in America.
Based on robust profits, and rising revenues, $20 billion IT behemoth has revealed that they will hire 30,000 Indians this year.
At the same time, they will step-up hiring of US citizens for their US offices, as they have almost rejected H1-B dependency.
Is this the new business model of IT majors in India: Indians in Indian offices, and Americans in US offices?
HCL Will Hire More Americans In US
HCL Tech president and CEO C Vijayakumar has revealed some interesting numbers, related to their US operations, and American employees.
In the US, HCL employes 15,000 employees, out of which 75% are Americans. In the next few months, they will ramp up hiring the Americans, and will increase their strength by 10-15% by local hiring.
US contributes 64% of the company’s overall revenues.
More American Employees, and Less Indians In The US?
Apparao V V, who is the Chief human resources officer at HCL Tech said that due to more local hirings in the US, their dependency on H1-B visa has come down drastically.
This year, they only applied for 640 H-1B visas, and received 400 approvals. Since HCL has 1.3 lakh employees, this clearly shows that HCL has rejected H-1B and L1 visas route, and is now banking more on American employees, for completing their projects in the US.
Something which President Trump would be proud of.
He said, “… localisation is something which is inevitable for the Industry and our localisation percentage is anywhere between 65-70% in most of the places”.
But Indian Hiring Is Also Up
While hiring locals in the US makes sense for HCL, hiring in India hasn’t stopped.
As per Apparao, HCL plans to hire 30,000 employees in India this year – and this includes freshers, market hires, and experienced professionals.
In the areas of digital & analytics, cloud, IoT, cybersecurity and other services, HCL has signed 17 crucial, transformational deals, and demand for skilled professionals is rising.
For the quarter ending September, 2018, HCL posted net profits of Rs 2540 crore, which is an increase of 16.1%, year on year. Consolidated revenues have increased to Rs 14,860 crore from Rs 12,433 crore last year.
We will keep you updated, as we receive more news.
