With the IT companies struggling to find the quality and right number of professionals, leading US CEO has asked for the increase in scheme for H-1B visa, which is favorable among the tech companies of India for meeting the increasing demand.
According to Bill Coleman, CEO, VERITAS, the whole Silicon Valley believes that the policy for H-1B visa requires to be expanded. There is a shortage of professionals here, the salaries here are skyrocketing, as each one is in competition with the other to employ from each one else.
VERITAS has around 1,700 employees working for it with India being its key centre, and as per Coleman, he plans to migrate some of its facilities to India from Florida.
The H-1B visa is to permit the US employers to hire and employ overseas professionals in the specialty occupations in the US, but the US has imposed an extra fee for few categories of H-1B visa.
In the middle of the revival of the economy of the US, where the rate of unemployment is less than 5%, Coleman said that there is massive shortage of excellent IT professionals in the Silicon Valley.
He said that if you search the websites of the firms like Facebook, Apple or Google, you would find many open job opportunities as they cannot find better candidates. He also said that the H-1B visa numbers should be based on the demand from the market and the expansion of the program is among the top priorities for Silicon Valley.