HCL Tech is going through a celebratory phase as it has recently hit a $10.02 billion valuation milestone and will be hiring 20,000 employees in the coming months.
HCL Technologies President and CEO C Vijayakumar cited a big demand pipeline comprising good order bookings inspiring optimism within his firm.
Ramping up Hiring
As of Dec 31, the company had 159,682 employees from 50 nationalities. Attrition rate was 10.2%. The third quarter saw the joining of 6,500 new employees.
The additional 20,000 will be a mix of experienced and fresher workers. 15% would be localised hiring in client geographies and the rest will be offshore.
Responding to questions of visa dependence for hiring talent Vijayakumar said that 69.8% of its workforce in the US were US nationals, a jump from 67% in the last quarter. This strategy of region specific hiring has reduced visa related issues .
10-Billion Dollar Celebration: Employees Receive Bonuses
The company celebrated the double-digit billion dollar milestone two decades after its first big achievement- filing its first IPO.
In an official statement, gratitude and congratulations were extended to its employees to whom the firm credits its success along with its network of partners and stakeholders.
In a gesture acknowledging the contribution and efforts of its workforce, the firm announced that it will be handing out bonuses worth 10 days of salaries to all people who have served at least a year.
The cumulative amount comes up to approximately $90 million plus payroll taxes in some countries, or worth ?700 crore, which was paid out in Feb of this year.
The company is meanwhile looking at Sri Lanka and Vietnam to set up its new delivery bases.
In June 2020 HCL Tech invested in Sri Lanka where it said it would be hiring 1,500 locals in the next 18 months.
In Dec 2020 HCLdebuted in Hanoi, Vietnam. The delivery centre here will be adding 3,000 people to its arsenal in a span of 3 years.
HCL will be looking eastward to capitalise on the Asia-Pacific and Japan market where it will be serving engineering clients. In an official statement Vijayakumar added, “that’s why we chose Sri Lanka for IT services and for engineering services, we chose Vietnam as a base to further expand.”
He acknowledged eastern European countries emerging as offshoring hubs which is still largely centred in India.