H-1B visa denials behind attrition, says Infosys

[tacobell fan]

BENGALURU:  InfosysNSE -2.71 % blamed part of the growing employee attrition at the company on its inability get enough H-1B visas and said it had to come up with a “new value proposition” to help retain employees. 

Indian IT firms have long sought to hold on to employees by offering the prospect of a US posting. But the US has tightened visa rules to give preference to applicants with master’s degrees, most of whom prefer American tech companies. Besides, Indian IT companies face
numerous administrative hurdles in both applying for new visas and extending existing ones. 

Infosys faced the most visa rejections in 2018 — as many as 2,042 — according to US think tank Centre for Immigration Studies. 

Six Indian companies — Tata Consultancy Services, Infosys, WiproNSE 1.52 %, Cognizant, and the US arms of Tech Mahindra and HCL Tech — accounted for nearly two-thirds of the rejections among the top 30 companies, the think tank said in March after analysing data
from the US Citizenship and Immigration Services. 

The six firms got 16%, or 2,145, of H-1B work permits, less than the 2,399 visas that Amazon got in 2018. 

At the end of the fourth quarter, Infosys’ attrition had climbed to more than 18% on a standalone annualised basis, compared with 16.6% in the same period last year, and 17.8% in the third quarter. Chief operating officer UB Pravin Rao said the company was seeing higher employee losses in the three-five year experience bracket in India and the two-three year experience bracket in the US.

LOCAL ARMS OF MNCS TOO WEANING TALENT AWAY 
Infosys’ attrition has been high for the past few quarters. 

“For a lot of people in the three-five (experience) bracket in India, the value proposition in the past has been onsite opportunities,” Rao told reporters at a press conference on Friday. “Now, with visa restrictions that is not happening. We have to create a new value proposition.” 

Indian companies are also losing out on talent with less than five years’ experience, particularly in the newer digital and cloud skills, to local operations of companies such as Amazon and captive operations of global MNCs such as Deloitte, Tesco and Walmart. 

Rao said Infosys had begun putting in place measures to cut attrition, though it will take a few quarters to have any effect. The company has started milestone-based increments, and incentives tied to digital skill certifications. But Rao said arresting attrition was not just a matter of giving increments and raises. 

“We can arrest attrition from expense management but to a large extent, we believe it’s more about giving them opportunities, more about a new narrative around some of these initiatives that we are doing, enabling them on their career progression and so on,” he said. 

Rao added that the company also planned aggressive rotation of employees on projects — to give them experience of working on new technologies and projects. “Infosys’ attrition issues are because of more than just H-1B,” an analyst at a Mumbai-based brokerage said. “The visa restrictions are industrywide problems but TCS’ attrition didn’t grow that much.” 

TCS’ IT services attrition climbed to 11.3% from 11.2% in the third quarter. Attrition typically rises in the first quarter as employees leave for higher studies. 

[Sucker]

Matter in 2 lines baa @tacobell fan

[tacobell fan]

1 minute ago, Sucker said:

Matter in 2 lines baa @tacobell fan

valla stocks fall ki idi oka reason chupistunnaru indirect ga

[Prince_Fan]

11 minutes ago, tacobell fan said:

valla stocks fall ki idi oka reason chupistunnaru indirect ga

Infosys was a great company before I joined them in 2006

[LastManStanding]

6 minutes ago, Prince_Fan said:

Infosys was a great company before I joined them in 2006

nuv join ayyi nasanam chesaka nenu join ayya..nuvvemo CG ki poyi, dani sangati chustunnav ippudu

[snoww]

MAGA

[jefferson1]

34 minutes ago, tacobell fan said:

valla stocks fall ki idi oka reason chupistunnaru indirect ga

You mean tcs/Infosys stock fall ?

[tacobell fan]

3 minutes ago, jefferson1 said:

You mean tcs/Infosys stock fall ?

yes

[tacobell fan]

25 minutes ago, Prince_Fan said:

Infosys was a great company before I joined them in 2006

YCP ki Roja, IT ki nuvva kaka

[ekunadam_enkanna]

5 minutes ago, jefferson1 said:

You mean tcs/Infosys stock fall ?

Not now. Stock price doesn't only depend on the company alone. 1/3 of the value depends on the over all market (bull run, or bear); 1/3 on the sector (industrials, consumables, tech, healthcare, financials, energy, etc)---and this has to do with rotation of sectors done by big players; 1/3 on the individual company.  

Grand ma Janet Yellen never increased her almost ZIRP interest rates during Obama administration. And Trump knows this , and thats why Fed stopping hiking interest rates. So, don't expect stock prices to fall at the moment.

[ekunadam_enkanna]

47 minutes ago, tacobell fan said:

BENGALURU:  InfosysNSE -2.71 % blamed part of the growing employee attrition at the company on its inability get enough H-1B visas and said it had to come up with a “new value proposition” to help retain employees. 

Indian IT firms have long sought to hold on to employees by offering the prospect of a US posting. But the US has tightened visa rules to give preference to applicants with master’s degrees, most of whom prefer American tech companies. Besides, Indian IT companies face
numerous administrative hurdles in both applying for new visas and extending existing ones. 

Infosys faced the most visa rejections in 2018 — as many as 2,042 — according to US think tank Centre for Immigration Studies. 

Six Indian companies — Tata Consultancy Services, Infosys, WiproNSE 1.52 %, Cognizant, and the US arms of Tech Mahindra and HCL Tech — accounted for nearly two-thirds of the rejections among the top 30 companies, the think tank said in March after analysing data
from the US Citizenship and Immigration Services. 

The six firms got 16%, or 2,145, of H-1B work permits, less than the 2,399 visas that Amazon got in 2018. 

At the end of the fourth quarter, Infosys’ attrition had climbed to more than 18% on a standalone annualised basis, compared with 16.6% in the same period last year, and 17.8% in the third quarter. Chief operating officer UB Pravin Rao said the company was seeing higher employee losses in the three-five year experience bracket in India and the two-three year experience bracket in the US.

LOCAL ARMS OF MNCS TOO WEANING TALENT AWAY 
Infosys’ attrition has been high for the past few quarters. 

“For a lot of people in the three-five (experience) bracket in India, the value proposition in the past has been onsite opportunities,” Rao told reporters at a press conference on Friday. “Now, with visa restrictions that is not happening. We have to create a new value proposition.” 

Indian companies are also losing out on talent with less than five years’ experience, particularly in the newer digital and cloud skills, to local operations of companies such as Amazon and captive operations of global MNCs such as Deloitte, Tesco and Walmart. 

Rao said Infosys had begun putting in place measures to cut attrition, though it will take a few quarters to have any effect. The company has started milestone-based increments, and incentives tied to digital skill certifications. But Rao said arresting attrition was not just a matter of giving increments and raises. 

“We can arrest attrition from expense management but to a large extent, we believe it’s more about giving them opportunities, more about a new narrative around some of these initiatives that we are doing, enabling them on their career progression and so on,” he said. 

Rao added that the company also planned aggressive rotation of employees on projects — to give them experience of working on new technologies and projects. “Infosys’ attrition issues are because of more than just H-1B,” an analyst at a Mumbai-based brokerage said. “The visa restrictions are industrywide problems but TCS’ attrition didn’t grow that much.” 

TCS’ IT services attrition climbed to 11.3% from 11.2% in the third quarter. Attrition typically rises in the first quarter as employees leave for higher studies. 

Another HR bullshit speak.

[tacobell fan]

1 minute ago, ekunadam_enkanna said:

Not now. Stock price doesn't only depend on the company alone. 1/3 of the value depends on the over all market (bull run, or bear); 1/3 on the sector (industrials, consumables, tech, healthcare, financials, energy, etc)---and this has to do with rotation of sectors done by big players; 1/3 on the individual company.  

Grand ma Janet Yellen never increased her almost ZIRP interest rates during Obama administration. And Trump knows this , and thats why Fed stopping hiking interest rates. So, don't expect stock prices to fall at the moment.

Infosys shares fell as much as 5% in early trade before closing 3% lower. Infosys' bigger rival TCS, which also reported Q4 earnings on Friday, jumped 5% today. This is the second successive quarter where Infosys has achieved more than 10% growth year-on-year in constant currency. The Bengaluru-based company said it signed large deals of $1.57 billion during the quarter, taking the cumulative size of deals won to $6.28 billion for the full year. This is twice that of FY18.

https://www.livemint.com/market/stock-market-news/infosys-shares-fall-sharply-on-q4-results-tcs-shares-jump-1555298997808.html

[ekunadam_enkanna]

Just now, tacobell fan said:

Infosys shares fell as much as 5% in early trade before closing 3% lower. Infosys' bigger rival TCS, which also reported Q4 earnings on Friday, jumped 5% today. This is the second successive quarter where Infosys has achieved more than 10% growth year-on-year in constant currency. The Bengaluru-based company said it signed large deals of $1.57 billion during the quarter, taking the cumulative size of deals won to $6.28 billion for the full year. This is twice that of FY18.

https://www.livemint.com/market/stock-market-news/infosys-shares-fall-sharply-on-q4-results-tcs-shares-jump-1555298997808.html

I mean, 5% fall is not something that Institutional investors worry at a moment. Yes, some retailers will leave. 

[ARYA]

1 hour ago, Prince_Fan said:

Infosys was a great company before I joined them in 2006

nuvvu join iyyina taravaatee pathanam start iyyindaa chinnu 

[tacobell fan]

2 minutes ago, ARYA said:

nuvvu join iyyina taravaatee pathanam start iyyindaa chinnu 

following year (2007-2008) recession ante ardham avvala