According to a mint report, an Indian multinational information technology company, Infosys Ltd has 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.
Infosys 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.
The company has introduced a program called Bridge an initiative designed to enable employees to shift careers into adjacent or new career tracks.
Bridge gives employees access to higher skill levels and different job streams, one-on-one interaction with leaders, and career counseling. The bridge program focuses is to a digital specialist, focused on building talent that will help Infosys be at the upstream of its digital transformation work with clients.
There are bridges to process and domain consulting, business consulting, infrastructure consulting, power programming (deep programming), and to deep architecture.
There are three broad roles in this career track – digital specialist engineer, solution specialist, and transformation leader.
It involves a stringent selection process and subsequent capability building and is focused on building a talent pool in critical areas. The employees part of Platinum Club gets automatic entry to Bridge programs.
As part of the upskilling initiatives, the company has introduced what it calls Skill Tags – badges that identify proficiency in different technologies.
Employees can select a Skill Tag, and then a variant within it. After they complete the required courses and gain six months of experience in that technology, they qualify for a Skill Tag. Employees are also given a Digital Quotient, which is a comprehensive score for their digital capabilities.
The firm is focussing on ways to retain talent, including “faster and predictable promotions”, wherein top performers are encouraged to join career development programmes and advance their promotions, say, from 10-12 years to 7-9 years. “We will ensure you become a project manager from a software engineer in about nine years.
For good performers, nine years, and if you’re outstanding, it can be even shorter, say about seven years. That’s what we were doing, reducing the time from what it was by 20-30%,” Shankar said.
Earlier, Infosys fired a few employees in recent months for moonlighting. However, the exact numbers are not mentioned.
CEO Salil Parekh said, “If we have found employees doing work in two different companies, where there are confidentiality issues, we have let them go in the last 12 months.”
Infosys’ headcount as of September 30, 2022 is 3,45,218. Last quarter, Infosys had a net employee addition of 21,171 employees. The company’s attrition has reduced to 27.1 percent in Q2FY23 from 28.4 percent last quarter.