Infosys to announce promotions & salary hikes soon

Infosys has formed a new Committee of the Board focused on ESG
The ESG Committee will meet periodically and guide the Board in discharging its oversight responsibility on matters related to organization-wide ESG initiatives, priorities, and leading ESG practices.

IT major, Infosys has started to make some decisions on promotions and salary hikes for some employees and will review it by the end of the current quarter, which ends in September

Salil Parekh, CEO, Infosys said in an interview, “We had an extremely high variable pay number last quarter, and will continue with that approach. We started to make some decisions for different levels of employees within the company on promotions as well as changes in salary. And the company will also start with its massive recruitment plan.”

He added, “All of that will be looked at through this year as the economic environment around us both worldwide and in India starts to see improvement- we want to make sure it is done in conjunction with that so that all employees and hard work is also rewarded.”

Infosys had suspended new hirings, promotions, and increments for FY21 in April for its 1.2 lakh employees amid the unprecedented COVID turmoil. While suspending hikes and promotions, Infosys had said that it will start honoring the job offers that have already been extended to the students.

Responding to Times Now on whether these decisions will be made by the end of the quarter, he said, “All of those will be looked at carefully at the end of each quarter- some groups of people will start to see results of that. The same way we look at the interests of clients, we are making sure that all employee interests including how we dealt with variable pay in the first quarter will be dealt with in the best possible way.” 

The company has begun adding freshers in the June-September quarter. CEO Salil Parekh said that a highly variable number is due to the hard work and dedication of employees. The tech firm plans to continue with the approach.

Global rivals with a large Indian presence such as Cognizant, Capgemini have already offered hikes and promotions to its staff. For the US, Infosys plans to hire local workers. The company plan to add another 12,000 members to its US headcount.

The hirings are expected to be completed by 2022. This essentially means that Infosys will have an upper edge compared to other firms when it comes to handling visa-related hurdles.

We are still massively recruiting in other parts of the world as also within India. Going ahead, there will be recruitment in different geographies in addition to the large recruitment in India., Parekh said.

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