In this paper we study the influence of the processing wavelength on process efficiency and quality at picosecond microdrilling in steel. Possible optical setups for utilizing the second harmonic will be presented, and the influence of wavelength on the drilling rate will be discussed. The potential of helical drilling with the second harmonic in 1 mm thick CrNi-steel will be investigated with regard to process efficiency and hole quality. An analysis will be given of the role of particle-ignited atmospheric plasma and the relation between isophote contour and hole morphology. Our study reveals that a substantial enhancement of both precision and productivity can be achieved by using frequency-doubled instead of infrared radiation. It is shown that plasma ablation and melt production can be minimized by drilling with the second harmonic.