Over the past few years, there has been a significant decline in the employ of H-1B visas by Indian IT companies in the US. Gone are the days when Indian IT companies were heavily dependent on H-1B visas and the augment in visa costs was even considered to be affecting their margins.
In the few years before 2015, several immense Indian IT companies were among the top ten H-1B visa beneficiaries. However, since then, these numbers have dropped dramatically. According to an Economic Times (ET) report, shares of immense Indian IT companies, except Infosys, have fallen by over 40%. According to data from the American analytical team National Foundation for American Policy (NFAP).
*Tata Advisory Services: down 75%
* Infosys: Down 21%
* Wipro: Down 69%
* HCL America: Down 46%
* LTIMindtree: Down 32%
* Tech Mahindra: Down 62%
* Hexaware technologies: 56% decrease
What lies behind this trend is a huge decline
Local recruitment focus: Indian IT giants have significantly increased their recruitment efforts in the US. Companies like Infosys have even replicated their successful model of developing Indian talent in the US, reducing their dependence on visa workers, according to a study by research firm Everest Group.
Automation wave: The growing employ of automation and artificial intelligence (AI) tools in the IT industry has streamlined tasks, potentially leading to a reduction in overall labor needs.
The changing US landscape: The rising cost of living in the USA, according to various online sources, has made it a less attractive destination for IT specialists wishing to emigrate.
Filling the talent gap: With fewer H-1B visas available, Indian IT companies are adopting alternative strategies to fill the talent gap. It contains Investing in the STEM pipeline. According to industry body Nasscom, the Indian IT industry has invested significantly (over $1.1 billion) in strengthening the STEM talent pipeline in the US. This includes partnerships with more than 130 universities, Nasscom says, to develop the country’s skilled workforce and upskill programs for existing workers.
Second, leveraging the existing talent pool. The immense Indian diaspora living in the United States provides an easily accessible talent pool that companies can tap into.
In the few years before 2015, several immense Indian IT companies were among the top ten H-1B visa beneficiaries. However, since then, these numbers have dropped dramatically. According to an Economic Times (ET) report, shares of immense Indian IT companies, except Infosys, have fallen by over 40%. According to data from the American analytical team National Foundation for American Policy (NFAP).
*Tata Advisory Services: down 75%
* Infosys: Down 21%
* Wipro: Down 69%
* HCL America: Down 46%
* LTIMindtree: Down 32%
* Tech Mahindra: Down 62%
* Hexaware technologies: 56% decrease
What lies behind this trend is a huge decline
Local recruitment focus: Indian IT giants have significantly increased their recruitment efforts in the US. Companies like Infosys have even replicated their successful model of developing Indian talent in the US, reducing their dependence on visa workers, according to a study by research firm Everest Group.
Automation wave: The growing employ of automation and artificial intelligence (AI) tools in the IT industry has streamlined tasks, potentially leading to a reduction in overall labor needs.
The changing US landscape: The rising cost of living in the USA, according to various online sources, has made it a less attractive destination for IT specialists wishing to emigrate.
Filling the talent gap: With fewer H-1B visas available, Indian IT companies are adopting alternative strategies to fill the talent gap. It contains Investing in the STEM pipeline. According to industry body Nasscom, the Indian IT industry has invested significantly (over $1.1 billion) in strengthening the STEM talent pipeline in the US. This includes partnerships with more than 130 universities, Nasscom says, to develop the country’s skilled workforce and upskill programs for existing workers.
Second, leveraging the existing talent pool. The immense Indian diaspora living in the United States provides an easily accessible talent pool that companies can tap into.
