1. You Are At:
  2. Home
  3. Business News
  4. Infosys rolls out mid to high single-digit salary hike for majority of its employees

Infosys rolls out mid to high single-digit salary hike for majority of its employees

Infosys had a total headcount of 2,04,107 people at the end of 31 March, 2018. While the gross addition stood at 12,329 people, the net addition was of 2,416 employees.  

Reported by: PTI, Bengaluru [ Published on: April 13, 2018 20:40 IST ]
Image Source : PTI

Representational image

Infosys on Friday said it has rolled out salary hikes ranging from "mid-single digit to high-single digit" for a majority of its employees, effective from April onwards.

"We are also pleased to announce compensation revision for 85 percent of our employees starting April. For rest of the employees, primarily middle management and senior management, it will be effective 1 July. This is for both onsite and offshore," Infosys COO Pravin Rao said.

He added that similar to last year, there will be much more focus on differentiation based on performance and contribution.

"Majority of employees in India will get raises from mid-single digit to high-single digit," he said.

Infosys had a total headcount of 2,04,107 people at the end of 31 March, 2018. While the gross addition stood at 12,329 people, the net addition was of 2,416 employees.

Besides, the Board has appointed Kiran Mazumdar-Shaw, Independent Director as the Lead Independent Director of the Board.

Rao said the attrition at the company for the March quarter had increased to 16.6 percent as compared to 15.8 percent in the previous quarter.

"However, the high-performers attrition has come down dramatically at 9.4 percent," he added.

Talking about the business, Rao said revenues from digital services have increased to 26.8 percent in the fourth quarter and for the entire fiscal, it stood at 25.5 percent.

"During the (March) quarter, we also saw 10 large deal wins with total contract value (TCV) of USD 905 million. This is the highest quarterly TCV win in this particular year. Total TCV win for the year crossed USD 3 billion," he noted.

The executive also emphasised that the deal pipeline remains healthy, while the utilisation rate (excluding trainees) was stable at 84.7 percent.

Write a comment