Infosys, a global leader in next-generation digital services and consulting, has rolled out variable payouts for the March quarter, notifying eligible employees individually.
By differentiating the payout percentages based on job levels, Infosys aims to provide appropriate compensation reflective of each role’s contribution and significance within the company.
These payouts are part of the company’s strategy to motivate and retain talent across various levels of the organization. As per TOI, Infosys has provided average payouts of 70%, 65%, and 57% for senior managers and below, specifically those at job levels 4, 5, and 6, respectively.
However, despite reaching out for comments Infosys did not respond to mail before the publication deadline.
Previously, Infosys reduced its average variable pay to 73% given to its employees for the third quarter of the current fiscal. However, earlier the company rolled out variable payouts of around 80% for the previous two quarters.
According to Financial Express, The IT giant had reduced its variable pay to 60% for the March quarter of FY23, due to global macroeconomic conditions while the average payout is at 73%, the variable payout ranged between 65% – 105% in Q3.
In April, TCS announced 100% variable pay for junior employees with at least 4 years of experience in the C2 grade.
Recently, the company stands apart from industry trends triggered by GenAI, refraining from job reduction or any form of job cuts seen elsewhere.
CEO Salil Parekh told CNBC-TV18, “No, we are not doing any of that. Others in the industry have done that. We’ve been very clear that that’s not the approach.”
“Over the next several years, we’ll have more and more people joining us who become experts in generative AI and we will be serving the world’s large organizations”, he added.
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