Infosys on Friday said that it has given a wage hikes of 6-12 per cent to its employees in India and of about two per cent to onsite workers, even as it is trying to hire locals to make itself indepen
Infosys on Friday said that it has given a wage hikes of 6-12 per cent to its employees in India and of about two per cent to onsite workers, even as it is trying to hire locals to make itself independent of visa regulations.
The country’s second largest IT firm said it is also looking at offering equity to incentivise top performers.
Infosys executive vice- president and Group Head (human resource development) Krishnamurthy Shankar said, “We are starting with the process for our engineers and the leads, and they will be based on performance, majority of them will be in the range of six and 12 per cent.”
For onsite employees, it is around 1.5 to 2 per cent.
The hikes are effective from April 1 for employees below managerial level, and from July 1 for managers and above.
In the fourth quarter, Infosys gave out 2,147 promotions and 8,900 in total in FY2016 for employees below managerial level.
The company is also looking at introducing equity, which will be launched during the quarter and will be announced in due course.
“Objective is to ensure that....to retain and attract people, we are going to cover select percentage of high potential, high performers about 20-25 per cent of managerial level, that would be our intention,” Mr Shankar said.
For the March quarter, Infosys’ total headcount stood at 1,94,044 as against 1,76,187 a year ago. The company added (net) 661 people in the January-March 2016 quarter.
Terming the debate around visa-related issues as rhetoric, Infosys CEO Vishal Sikka said the company is working on becoming “independent of the visa issue” as much as possible and hire more locals. “Our view is to become independent of visas, to hire locally. I’m myself a local hire in the US, we have thousands of people who are locally hired working in US, Europe, Australia and other places,” he said.
He said the company will try to get independent of this visa matter as much as possible.
Infosys profit up 16 per cent in q4, expects strong growth Infosys on Friday repo-rted better-than-expected 16 per cent rise in the fourth-quarter net profit and forecast strong revenue growth for the current fiscal on new client additions.
Consolidated net profit at Rs 3,597 crore in the January-March period of last fiscal was 16.2 per cent higher than Rs 3,097 crore net earning in the same period of 2014-15, the company said.
Turnover rose 23.4 per cent to Rs 16,550 crore in the Q4 of 2015-16.
On a sequential basis, Infosys’ net profit rose 3.8 per cent from Rs 3,465 crore in the October-December quarter while revenue was up 4.1 per cent from Rs 15,902 crore during the same period.
Infosys said sales will rise between 11.8 per cent and 13.8 per cent in US dollar terms in the 2016-17 fiscal year.
Revenue will grow between 11.5 per cent and 13.5 per cent in constant currency terms, indicating a faster gro-wth than the industry average as the company shifts to high-margin digital services.
