60% Variable Pay For BPM Employees: Infosys
Infosys BPM (business process management) has recently announced that the average variable payout for its employees is 60 per cent in the second quarter of this fiscal.
The variable pay will be paid to its employees with their October salaries for some bands of employees (J4, J5, and J6).
The news comes as a happiness bonus for many employees as the company scaled back the average variable payout of employees to about 70 per cent for the June quarter amid margin squeeze and high employee costs.
Further, Infosys had also added that a section of top performers will receive 20-25 per cent increments, while large part of its employees have received 10-13% salary hikes.
“It would vary between 10% and 13%, and in some cases, top performers have got 20-25%,” said Krish Shankar, executive vice president and group head of human resources at Infosys.
CEO Salil Parekh said that the company will continue its flexible approach, Infosys is not setting any days for employees to work from the office s the current work model has worked well for the company.
Chief Financial Officer Nilanjan Roy said, “In FY22, Infosys had hired 85,000 freshers, with its hiring up 2.2x in two years. For FY23, Infosys has said that it would be hiring over 50,000 freshers.”
The company’s headcount stood at 3,45,218 as of September 30, 2022, from 3,35,186 in Q1FY23. The net addition of 21,171 people in the first quarter ended on June 30.
Infosys’ attrition in Q2FY23 stood at 27.1 percent. The company’s attrition for the last quarter was 28.4 percent. There is a sequentially fall in attrition on a trailing twelve-month basis.
