)
Despite an uncertain environment for temporary visa applicants to the US, Tata Consultancy Services (TCS), India’s largest information technology services provider, has applied for a higher number of H1-B visas for this financial year, compared to 2012-13.
For 2012-13, TCS had applied for about 5,900 H1-B visas.
“We have applied for a higher number of H1-B visas for this year, as the rejection rate for L1 visas continues to be 80 per cent or more,” said Ajoy Mukherjee, executive vice-president and head (global human resources), TCS.
The company’s rush for H1-B visas reflects the high demand for this category of visas across industries. Within five days of the window for the visa applications being opened, about 1,24,000 H-1B visa applications were filed. Mukherjee attributes the rush for H1-B visas on the pent-up demand for skilled labour in the US. The cap on the number of H-1B visa issuances is 65,000.
When asked about the Immigration Bill in the US and how it would impact the company’s hiring trends, Mukherjee said, “The Bill did get placed late last night. We will have to wait and watch. But yes, we do see opportunities, as well as concerns in the Bill; opportunity because this would mean a rise in the visa cap…concerns because we will need to see the restrictions that would come about, how these would apply, what the cap would be, etc.”
TCS, the only net hirer among the top IT services companies in India, would see 45,000 employees joining the company this financial year. At the end of March, the company’s total headcount was 276,196.
TCS has also taken the lead, in terms of reducing attrition. It reported an attrition level of 10.57 per cent for the quarter ended March; IT attrition fell to 9.4 per cent. Mukherjee attributed the drop in attrition to the macro business environment and the company’s retention strategy. “Usually, joining rates are 69-70 per cent. But this year, we expect these to rise to 74-75 per cent,” Mukherjee said.
TCS has announced a hiring target of 45,000 for this financial year, adding about 1,600 would be recruited in the US. “In the last financial year, we had hired 1,600 people in the US, of which 100-150 were campus hires. This year, too, we would hire equal numbers, though we would want to hire more from campuses,” Mukherjee said.
On why the company’s hiring target seemed low, despite a robust growth target, Mukherjee said, “This quarter, we have added 11,000 campus freshers. They would start on projects from May. The 24,500 who have received offer letters from us would join by June. Our attempt is to have higher utilisation and less of bench,” he said.
