Bengaluru: Infosys‘long awaited Growth It is being started in a systematic manner. some of the Employee It is believed that there may be an increase after its implementation in January. Salary increment For many of its employees in December.
Some sources said that some business units are finalizing it Budget And hence the delay. There was no response to an email sent to Infosys till the time of writing. Infosys has announced that the hike will be effective from November 1. Bengaluru based IT company Adjourned Increase by almost two quarters. It usually announces the hike in June/July, and it comes into effect from April.
Infosys HR head Shaji Mathew recently spoke at a town hall about how tenured employees and high-performing employees will be the focus of the compensation review cycle. Companies have become selective in who they give salary increases to. Recently, TOI reported that Infosys has laid off junior and mid-level employees who joined after October 2021 and senior employees who joined after October 2020.
Over the past year, IT demand has declined due to weak global macroeconomic conditions and geopolitical events.
IT companies are reducing their recruitment targets. In several recent quarters, the total number of employees at some companies has declined, given that new hires have not been able to compensate for those leaving the company. As attrition levels increased, many people were over-hired in the expectation that the attrition rate might rise further. But in a weak business environment, employee attrition rates have fallen by one-third to half from a year ago, also reducing the bargaining power of IT professionals. Infosys’ attrition rate almost halved to 14.6% from 27.1% during the September quarter.
Some sources said that some business units are finalizing it Budget And hence the delay. There was no response to an email sent to Infosys till the time of writing. Infosys has announced that the hike will be effective from November 1. Bengaluru based IT company Adjourned Increase by almost two quarters. It usually announces the hike in June/July, and it comes into effect from April.
Infosys HR head Shaji Mathew recently spoke at a town hall about how tenured employees and high-performing employees will be the focus of the compensation review cycle. Companies have become selective in who they give salary increases to. Recently, TOI reported that Infosys has laid off junior and mid-level employees who joined after October 2021 and senior employees who joined after October 2020.
Over the past year, IT demand has declined due to weak global macroeconomic conditions and geopolitical events.
IT companies are reducing their recruitment targets. In several recent quarters, the total number of employees at some companies has declined, given that new hires have not been able to compensate for those leaving the company. As attrition levels increased, many people were over-hired in the expectation that the attrition rate might rise further. But in a weak business environment, employee attrition rates have fallen by one-third to half from a year ago, also reducing the bargaining power of IT professionals. Infosys’ attrition rate almost halved to 14.6% from 27.1% during the September quarter.