Bangalore: Infosys Technologies, one of India's top software services exporter, is planning to provide promotion to almost 7500 employees in both middle and lower ranks. Talking to the media after the announcement of its quarterly results S.D. Shibulal, Chief Operating Officer and Member of the Board also said the promotions will be topped up by wage hikes. He said, "We have announced a wage hike of around 13-17 percent offshore and 2-3 percent onsite"
The company also plans to recruit 30,000 people in the upcoming financial year including 19,000 campus hires, 5,500 laterals, 2,000 overseas hires (in China, Manila, the U.S. and Europe) and the rest for Infosys BPO. Last year, Infosys started with 18,000 and ended up with 27,000. The company has already visited 300 campuses while moving towards bringing people in.
Infosys have seen extremely high attrition over the last quarter and most employees attribute it to the new HR initiative. There were reports mentioning the lost of 4000 employees in the month of February alone accounting for three percent of its total strength. Commenting on the flutter caused by iRace, Mohandas Pai, Head - Human Resources, Infosys said that the company believes in the new HR policy. 'iRace' will set a baseline and it will 'fit' people in a particular structure besides all the controversies. "We have addressed all the issues of employees in an open and transparent manner and it should be seen as a forward looking transformation exercise," he added. Pai also claimed that the company also provide several platforms for them to express their opinion on upcoming policies through websites, blogs, and review sites.
The attrition level of the company has also gone up drastically. Currently according to company sources the rate of attrition is around 13.4 percent. Infosys BPO has a major attrition level of 35 percent. Hence the company has decided to spend $134 million in salary hikes this quarter.