HCL Tech is going through a celebration process when it has just reached a $10.02 billion valuation milestone and will add 20,000 employees in the coming months.
HCL Technologies President and CEO C Vijayakumar cited a high-demand pipeline of good order bookings that inspired optimism within his company.
As of December 31, the company had 159,682 workers of 50 nationalities. The attrition rate was 10.2%. The HCL hire 6500 new employees in the third quarter.
The additional 20,000 will be a mix of experienced and younger employees. 15% would be based on the client geography and the rest would be offshore.
Responding to questions of visa dependence on talent hire Vijayakumar said that 69.8% of its workforce in the US was US nationals, a jump from 67% in the last quarter. This geographic-specific hiring policy has reduced the number of visa-related issues.
10-Billion Dollar Celebration: Employees Receive Bonuses
The company celebrated the double-digit billion-dollar milestone two decades since it’s first major achievement-filing its first IPO.
In an official statement, gratitude and congratulations were extended to its workers, to whom the organization credits its success along with its network of partners and stakeholders.
In a measure acknowledging the contribution and efforts of its employees, the company announced that it will offer incentives worth 10 days of pay to all those who have served for at least one year.
The total sum is about $90 million-plus payroll taxes in certain countries or a value of?700 crore, which was paid in February of this year.
Meanwhile, the organization is looking to Sri Lanka and Vietnam to set up its new delivery bases.
HCL Tech invested in Sri Lanka in June 2020 where it said it will hire 1,500 locals in the next 18 months.
HCL launched in Hanoi, Vietnam, in December 2020. In the next 3 years, the delivery center will recruit 3,000 employees to the arsenal.
HCL will be looking eastward to capitalize 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 identified the emerging Eastern European countries as offshoring centers, still largely centered in India.