India’s second-largest IT major, Infosys announced that its employees will be receiving 65 percent variable pay for the July – September quarter of FY23.
According to the email sent to employees, the average payout at an organization level is 65% for Q2FY23 and the individual payout percentages will differ based on the individual’s performance and contribution for the quarter.
Recently, Infosys also announced that the company will soon be resuming its work from office in a three-phased manner. The IT major has communicated to its employees by saying that it is going to adopt a ‘three-phase work from office plan’. The three phases include:-
- In its first phase plan, the company would allow employees to “come to the office twice a week based as per their convenience.”
- Followed by its second phase in which the employees would be allowed transfer or relocate to a branch office of their choice.
- Finally, Infosys in its final phase would involve the company drawing feedback from both the previous phases. So that the company can determine its hybrid-work policy.
Tata Consultancy Services (TCS) announced that it would pay only 70 per cent of its employees variable pay in the second quarter of 2022.
On the other hand, Wipro will pay out 100 percent of variable pay to 85 percent of employees for the second quarter
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.