HCL Technologies Backs a Socially Responsible Business Model For Growth
Published Date:Jan 26, 2012
- IT services provider announces initiative aimed at creating Local Gen Y Employment, Catalysing Innovation and skill development through collaboration with Local Communities, Educational Institutions, Governments, Customers and Partners
- Announces 10,000 local jobs in US and Europe in the next five years
In the context of a rapidly changing world, the expectation from businesses is evolving to balance pursuits of profit with social and individual imperatives in order to create a sustainable growth model. HCL through its pioneering work around sustainability and individual empowerment premised on its ‘Employees First, Customer Second’ philosophy has created many successful working models in this direction. It is now taking those efforts to the next level by positively impacting the communities through local job creation and development of an ecosystem to support and encourage innovation. This initiative inverts some fundamental operational assumptions of the Industry HCL operates in by changing the prevalent dynamics around cost, skill base and innovation.
“As our unique Employees First culture has continued to grow and evolve, we’ve seen more and more HCL employees expressing the desire to see a truly socially responsible business model," said Vineet Nayar, Vice Chairman & CEO, HCL Technologies. “Clearly, the need of the hour is growth and employment and we believe that this initiative will create unique business value for HCL while generating sustainable employment in local economies for years to come. It will need significant collaboration of all stakeholders, however we do believe that it can be done and we are committed to backing this program with all our resources and best intent,” he added.
Based on this belief, HCL has embarked on a series of initiatives led by its investments in building GCoEs, running dedicated recruitment and training programs for college graduates and providing platforms for developing IT skill pool in local communities through collaboration with anchor customers and universities. In the months ahead HCL will be working with 12 universities to offer a six-month elective course - as well as workshops on technology and management – and encouraging innovation through contests such as the HCL-M-Prize, created in association with Prof. Gary Hamel’s MIX. HCL's technology partners will also join hands in this initiative to provide training in upcoming technologies so that the talent deficit in these areas gets addressed. The company is working closely with government agencies to enlist their support in developing these ecosystems.
A Pilot program started on these lines across five HCL centres in US and EU (Seattle WA, and Cary North Carolina in the U.S, Helsinki in Finland, Krakow in Poland and Dublin in Ireland) has already shown early signs of success.
About HCL Technologies
HCL Technologies is a leading global IT services company, working with clients in the areas that impact and redefine the core of their businesses. Since its inception into the global landscape after its IPO in 1999, HCL focuses on ‘transformational outsourcing’, underlined by innovation and value creation, and offers integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services and BPO. HCL leverages its extensive global offshore infrastructure and network of offices in 26 countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare. HCL takes pride in its philosophy of ‘Employee First, Customer Second’ which empowers our 83,076 transformers to create a real value for the customers. HCL Technologies, along with its subsidiaries, has reported consolidated revenues of US$ 3.9 billion ( Rs 18,334 crores), as on 31 December 2011 (on LTM basis).. For more information, please visit www.hcltech.com
HCL is a $6 billion leading global technology and IT enterprise comprising two companies listed in India - HCL Technologies and HCL Infosystems. Founded in 1976, HCL is one of India's original IT garage start-ups. A pioneer of modern computing, HCL is a global transformational enterprise today. Its range of offerings includes product engineering, custom & package applications, BPO, IT infrastructure services, IT hardware, systems integration, and distribution of information and communications technology (ICT) products across a wide range of focused industry verticals. The HCL team consists of over 85,000 professionals of diverse nationalities, who operate from 31 countries including over 500 points of presence in India. HCL has partnerships with several leading global 1000 firms, including leading IT and technology firms. For more information, please visit www.hcl.com
Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward looking statements, including but not limited to the statements containing the words 'planned', 'expects', 'believes', 'strategy', 'opportunity', 'anticipates', 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, Business Process Outsourcing and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptances of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost effective and timely manner, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies / entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property, other risks, uncertainties and general economic conditions affecting our industry. There can be no assurance that the forward looking statements made herein will prove to be accurate, and issuance of such forward looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
For further information please contact:
Europe DID: +44 (0) 207 105 8661,
MOB: +44 (0) 7921 699137
+44 (0)207 802 262