Infosys will roll out salary increases and promotions across all levels effective January 1 as the company forecast higher growth in the year ahead on the back of large deal wins from customers.
Infosys CEO Salil Parekh said that the company will pay a special bonus in the quarter to December, while paying 100% variable pay in the previous quarter.
Infosys said the demand for its services is increasing as clients spend more on technology.
“Our second quarter performance is a clear reflection of our ability to help clients on their digital transformation journeys. Our digital and cloud capabilities combined with intense client relevance are helping us achieve differentiated results in the market as is visible in 2.2% year on year overall revenue growth and 25.4% growth from digital offerings, which now are at 47.3% of revenues”, said Salil Parekh, CEO and MD. “Increase in revenue and margin outlook for FY 21 is due to the continued trust clients have in us. I am extremely proud of our team for achieving these results in challenging business conditions globally.”
Salary hikes will be identical to previous years. Infosys paid 6% to over 85% of its employees in 2019. Voluntary attrition was at 7.8%, the lowest among many quarters. Employee count stood at 2,40,208 people.
"The attrition is significantly lower and it is to our comfort. During the pandemic, we had tremendous focus on employee intervention. We have created focus on physical and emotional involvement and over 200 interventions," said Rao.
Attrition is not sustainable when growth returns, he said.
Infosys hired 5,500 people including 3000 freshers in the second quarter.
Rao said that the company plans to hire 16,500 freshers this year and has a target to hire 15,000 people next year
Infosys CEO Salil Parekh said that the company will pay a special bonus in the quarter to December, while paying 100% variable pay in the previous quarter.
“The strength and resilience of Infosys was fully visible in Q2 with operating metrics witnessing a healthy increase, broad-based growth, highest ever large deal TCV at $ 3.15 bn and attrition reducing to single digits”, said Pravin Rao, COO. “Employees have been critical part of our success. As a recognition of their stellar performance, we are giving 100% variable pay along with a special incentive for Q2. Additionally, we are rolling out salary increases and promotions across all levels effective Jan 1st.”
Infosys said the demand for its services is increasing as clients spend more on technology.
“Our second quarter performance is a clear reflection of our ability to help clients on their digital transformation journeys. Our digital and cloud capabilities combined with intense client relevance are helping us achieve differentiated results in the market as is visible in 2.2% year on year overall revenue growth and 25.4% growth from digital offerings, which now are at 47.3% of revenues”, said Salil Parekh, CEO and MD. “Increase in revenue and margin outlook for FY 21 is due to the continued trust clients have in us. I am extremely proud of our team for achieving these results in challenging business conditions globally.”
Salary hikes will be identical to previous years. Infosys paid 6% to over 85% of its employees in 2019. Voluntary attrition was at 7.8%, the lowest among many quarters. Employee count stood at 2,40,208 people.
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"The attrition is significantly lower and it is to our comfort. During the pandemic, we had tremendous focus on employee intervention. We have created focus on physical and emotional involvement and over 200 interventions," said Rao.
Attrition is not sustainable when growth returns, he said.
Infosys hired 5,500 people including 3000 freshers in the second quarter.
Rao said that the company plans to hire 16,500 freshers this year and has a target to hire 15,000 people next year
( Originally published on Oct 14, 2020 )
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