Infosys pays skilled graduates Rs 7-8 lakh salary
BENGALURU: Infosys has rolled out a three-tiered bridge programme to encourage employees to hone their digital skills. One is a power programme launched some two quarters ago where fresh graduates with niche coding skills start with a higher annual compensation of between Rs 7-8 lakh. The regular compensation is about Rs 3.5 lakh.
Then there’s a bridge-to-consulting programme that identifies employees who are inclined to develop business consulting acumen. “We have 100 people pursuing the programme,” said Infosys group HR head Krish Shankar.
The third bridge programme encourages project managers to pursue a career as technical architects. “We are asking our employees to make choices in new roles and skill sets,” Shankar said.
Infosys’s peers have also taken similar initiatives. Cognizant has rolled out a skills premium allowance. This year, the allowance has been given to 40,000 digitally-savvy employees, up to the level of manager.
Tata Consultancy Services (TCS) has this year offered about 1,000 freshers with new-age digital skills about Rs 6.5 lakh in annual salary – almost double the amount it normally offers those coming out of campuses.
Many promoted: The number of promotions in the September quarter, at 10,619, was much higher than usual. In the preceding quarter it was about 4,000. It appears to be an effort to contain the high attrition rate, at 22.2%. The company said it has made several interventions to tackle the problem. Chief operating officer Pravin Rao said skill-based incentives was part of it. The quarterly variable payout too was good at 95%-100%.
Infosys to pay former CFO full severance amount
Infosys said it will pay former CFO Rajiv Bansal in accordance with the recent arbitration award. “The company has received legal advice and will comply with the award and make the necessary payments,” it said in a statement. The company had been ordered to pay the Rs 12.17 crore of outstanding severance payment to Bansal. The payment will bring the curtains down on a nearly two-year long dispute.
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