Infosys Will Raise Salaries, Promotion And Offer Bonuses | India’s second-largest IT services provider, Infosys, announced increased salaries, promotions, and bonuses to its employees to combat rising attrition.
Reports indicate that the Banagluru-based IT major plans to offer an average raise of 12-13 percent to its employees in India.
Infosys Will Raise Salaries, Promotion And Offer Bonuses
In addition, high-potential employees will receive a raise of up to 25 percent and a retention bonus. Infosys has a limited number of workers in digital, cloud computing, artificial intelligence, and data science.
Additionally, it offers top performers better roles and opportunities to learn new skills like Artificial Intelligence (AI) and Machine Learning (ML).
The managers have been asked to assure employees that they will be offered opportunities to work in different teams and learn in-demand skills like artificial intelligence (AI) and machine learning (ML).The demand for tech workers has increased since the pandemic began.
Employees are switching jobs in record numbers in search of higher salaries, better roles, and stock awards.
In response to pandemic, companies opted for digital transformation projects to cope with the lockdowns, remote working, and popularity of e-commerce. For Infosys, retention goes beyond salary hikes. It will attract more laterals and fresh graduates to the tech firm.
The company plans to hire about 50,000 college graduates in FY23. The company has reported that it hired 85,000 freshers both off-campus and on-campus in the financial year 2022, increasing the headcount to 3,14,015 from 2,92,067 in the December 2021 quarter.
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Attrition has reached an all-time high in IT companies. It posted a record attrition rate of 27.7% in the March quarter, faster than the 10.9% recorded in the previous quarter and the 25.5% registered in the previous three months.
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