30% of Tech Mahindra will soon WFH permanently

The CEO of Tech Mahindra says that 30% of Tech Mahindra will soon WFH permanently. The company recently announces its quarterly results. During the press release, the CEO announces this company’s decision

30% of Tech Mahindra will soon WFH permanently

He also says that currently, 90% of its entire workforce is working from home. Also, all of their customers are quite happy with the employees of the company meeting their expectations.

The CEO also says that under these circumstances, at least for 1-2 quarters there will be fewer people working from offices. In the initial phases of working from home, business process services teams faced some difficulties

The company also invested in an integrated command line to put in the mitigation plans. The peers of Tech Mahindra are also looking to implement the mixed work models

Some companies like HCL says that WFH may not be a permanent model for them. The Chief Human Resources Officer of HCL says that WFH is not suitable both physically and mentally for longer durations

Read more: 11000 employees resigned from top Indian companies in the last 90 days

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US visa ban will have minimal impact on operations: HCL

HCL Technologies says the US visa ban will have minimal impact on its operations. The CEO says that this is the trend they already been following and now others are following it.

US visa ban will have minimal impact on operations: HCL

He further says that the company has enough people abroad in the US to continue its operations without any halt. He also says that the new rules are unfortunate, but the company already is prepared to handle this situation not just in the US but across the globe.

If this situation continues in the long term, the company has to come up with a new idea to address the situation, according to the CEO. He also says that at present the company delivers from across the globe and that is the work model they are using

The company believes that although the situation can be controlled, there should be some tweaks to maintain to operate next year.

Also, read: Amazon extends work from home policy until 2021

HCL currently has 1.5 lakh employees globally. In the recent quarter, 63% of HCL revenue is from the US region. The company also brought its stranded employees from the US but didn’t officially announce any numbers.

Similarly, Infosys and Tech Mahindra also brought some of their stranded employees to their respective nations via chartered flights

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Which IT firm has the highest number of H1B employees?

Recently, US President Donal Trump announced a ban on H1B visas and green cards, until the end of this year. This led to companies looking to hire local talent. Let’s see which IT firm has the highest number of H1B employees

Which IT firm has the highest number of H1B employees?

Currently, there are 76,649 Indian employees working in IT firms. This includes TCS, Infosys, Wipro, Cognizant, HCL, etc.

The visa ban will not affect the current visa holders but it might lead to an increase in the rejection of the renewal rate. In 2016, the rejection rate is around 4%. It increased to 21% in 2021

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TCS is the largest holder of total employees compared to other Indian IT companies. The overall count is 54,874. Of the 40% are on visas and rest are local talent. In the visas segment, 90% are under H1B visas and rest are under L1 visas

Infosys has an overall strength of 36,228 employees working for them in the USA. Out of these, 21,737 are local staff. Just like TCS, Infosys also has 40% of the employees under visa

Cognizant also depends highly on the H1B visas. 50% of its workforce works under H1B visas. Of them, 90% are of H1B visa candidates and the rest are of L1 visas

Meanwhile, Wipro and HCL are less dependent on the visas. Only 35% of its staff work with visas. Of them, 90% are working under H1B visas and rest are L1 visa candidates.

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Over the past few years, these Indian IT firms have benefitted by hiring fewer people

The top IT services providers in the country have hired fewer people over the past few years in comparison to their revenue growth across the same timeline. This indicates that companies are adopting various automation and digital technologies.

Companies like TCS, Infosys, Tech Mahindra, HCL Technologies, Wipro have increased their growth over the past few years. This has been achieved by adopting the artificial intelligence technologies, automation of tools and digital services

During the same period, the businesses of core services like application development, maintenance, and infrastructure have fallen. Analysts are saying that this can be due to using automation and other technologies for the tasks which are at the bottom of the pyramid.

India’s largest software service provider, TCS currently employs 4,48,464 employees and has seen a compounded growth of 7% in hiring. In relation, the company’s revenue has grown by 10.64% every year. Meanwhile, Infosys’s revenue growth is slightly higher than TCS at 11.23% since the financial year 2015. The company has seen an increase in hiring by 6.59% for the past 5 years

The highest disparity between revenue and hiring among the top IT service providers in the country is observed at TechMahindra with revenue growth at 10.26% and hiring is at 4% each year since FY15

Since the FY15, Wipro has seen a 3% increase in hiring every year, and the revenue of the company has grown by 5.38% for the same period. HCL is the one that has performed well in terms of revenue for the last 5 financial years. The company’s revenue has been increased by 13.77% while the hiring has seen an increase of 7.23%. In the last five years, the company has recruited around 47,000 employees which increase the overall employee count to 150,423

However, at Tech Mahindra there has been a great difference between revenue and hiring for the last 5 years. The revenue of Tech Mahindra grew at 10.26% while new employees are recruited at a rate of 4% each year. Analysts predict that this great disparity at Tech Mahindra is due to the increased number of subcontractor staff deployed in every project.

Last week during the filing to the US Securities and Exchange Commission, Infosys announced that the use of automation tools and related technologies have cut down the costs for the company. Also, this has led to the involvement of manual effort in the projects.

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Thousands of employees of TCS, HCL withdraw the EPF Amount due to corona

Over 9000 employees of Tata Consultancy Services(TCS) has withdrawn more than Rs. 43 crores from the EPF. This is due to the coronavirus pandemic. According to some company wise data, TCS ranks second in the number of withdraws done by people working in a company.

The EPFO also released a list of top 10 exempted establishments who withdrew their EPF money. According to the list, 7000 HCL employees withdrew around Rs.27 crore from their EPF accounts. At the top of the list, there is NLC, whose employees withdrew a total Rs. 84.4 crore. After NLC, it is TCS which withdrew the most with 43.3 crores. The other companies present in the list are Vishakapatnam Steel Plant (40.1 crores), NTPC (28.7 crores), Power Grid Corporation of India (26.1 crores), ONGC (24.2 crores).

In a statement, EPFO has said that it had processed around 1.37 lakh claims across the whole country. The amount distributed through these claims is around Rs.279.6 crores. This is accessed under a new provision to help the subscribers overcome the crisis situation.

According to this new rule, EPF subscribers can make a non-refundable withdrawal to the extent of basic salary and dearness allowances for a period of 3 months or up to 75% of the amount standing in the EPF account credit. People can choose between these two options.

The claims for taking an advance on the EPF account are being filed online, with the account to be KYC compliant. EPFO has said in a statement that they have relaxed the Data of Birth correction criteria to make the KYC easy to complete. Now EPFO will accept the date of birth of a person as per the data in the Aadhaar Card.

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Multiple companies like TCS, HCL are asking their employees to work from home to stop the spread of Corona Virus

India is the latest country to get affected by the killer ‘Corona virus’. The number of people affected seems to increase day by day. Due to this, top companies like Tech Mahindra, TCS, HCL are asking its employees to opt for Work from home. Along with these companies, several other companies are also asking their employees to work from home to stop spreading the virus.

Although the virus is severe and deadly, a lot of misinformation is being spread via social media which could mislead people. The employees of these companies have a lot of global exposure, opting for work from home might reduce the risk of getting affected by this virus.

TCS has stated that it has asked its employees in Italy to stay at home and work. Recently, a Delhi resident got affected by Corona after visiting Italy. He also infected 15 Italian people and an Indian along with him.

The companies are planning to provide all the support employees need and are also working closely with clients to take control of this dire situation.

Along with TCS, Tech Mahindra is also advising it’s employees to opt for work from home. Anand Mahindra, the CEO of Tech Mahindra has tweeted ” The crisis will pass, but I think it’s making the world press a permanent ‘Reset’ button. 1) It’ll accelerate working from home 2) lead to more digital ‘virtual’ conferences 3) More video calls, less meetings.4) Less air travel, leading to a greener footprint. Anything else?”

HCL has said that it has started a contingency plan in the areas that are affected by the Corona virus. To actively monitor the situation in the affected regions, HCL has formed a global task force and is taking the required actions to control the situation by providing full support to its employees.

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