Infosys pleases employees; hikes salaries to double
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Indian's technology giant Infosys has a surprise for its employees. The IT-service company, which has been one of the biggest recruiters of IT professionals in the country, has plans to upskill its employees in an aim to reduce attrition rate and double their salaries.
According to a TOI report, Infosys is doubling the salaries of employees who successfully complete its new bridge programmes. The well-architectured bridge programmes enable employees to develop new skills without leaving the job. According to Infosys, the employees who opt for these upskilling programmes have seen their salary rise by 80-120 per cent, TOI reported, adding, about 400 people have been trained under these programmes so far.
"We are focused on creating a flexible internal market place for our talent to grow, instead of them leaving to join, say, an MBA course. These programmes provide people with alternative career growth opportunities," Krish Shankar, head of human resources at Infosys, was quoted in a TOI report.
Incorporating such programmes, Infosys is anticipating lower possibilities of employees leaving the job in order to get a better hike in rival companies, which in turn may lessen the attrition rate at junior positions. Infosys has developed about six bridge programmes, some of them include, bridge-to-consulting, bridge-to-power programming, bridge-to-design, bridge-to-full stack-development, bridge-to-tech architecture, the TOI report said.
Infosys seems to one of those organisation which spends the maximum portion its expenses on employees. Infosys had parked Rs 32,472 crore under employee benefit expenses in FY18, up 4.94 per cent from Rs 30,944 crore in FY17, according to Infosys Annual Report 2017-2018. With such an initiative of doubling pay packages through upskilling its own employees, there will be an eye on the employee benefit expenses of Infosys, going forward. For the quarter ended 30 September 2018, Infosys posted a 10 per cent YoY rise in the net profit to Rs 4,110 crore.
