The business process management subsidiary of Infosys Ltd., Infosys BPM (business process management) has announced that the average variable payout for its employees is 60% in the second quarter of this fiscal.
The variable pay will be paid to its employees with their October salaries for some bands of employees (J4, J5, and J6).
Infosys has over 50,000 BPM workers worldwide, with most operating out of India. Earlier, The company scaled back the average variable payout of employees to about 70 percent for the June quarter amid margin squeeze and high employee costs.
Earlier, The company confirmed the salary hike for employees. The increments depend on an employee’s grade, with the senior management receiving lower salary hikes as their salaries are high.
The company has added that a section of top performers receives 20-25% increments. However, it further confirmed that a large part of its employees have received 10-13% salary hikes.
“It would vary between 10% and 13%, and in some cases, top performers have got 20-25%,” said Krish Shankar, executive vice president and group head of human resources at Infosys.
CEO Salil Parekh said that the company will continue its flexible approach, Infosys is not setting any days for employees to work from the office s the current work model has worked well for the company.
Chief Financial Officer Nilanjan Roy said, “In FY22, Infosys had hired 85,000 freshers, with its hiring up 2.2x in two years. For FY23, Infosys has said that it would be hiring over 50,000 freshers.”
The company’s headcount stood at 3,45,218 as of September 30, 2022, from 3,35,186 in Q1FY23. The net addition of 21,171 people in the first quarter ended on June 30.
Infosys’ attrition in Q2FY23 stood at 27.1 percent. The company’s attrition for the last quarter was 28.4 percent. There is a sequentially fall in attrition on a trailing twelve-month basis.
