Infosys rolls out salary hike, majority to get mid to high single-digit jump
Infosys on Friday announced revised salaries for 85 per cent of its employees starting April. For the rest of its workforce, the revised compensation will be effective from July 1.Updated: Apr 13, 2018 19:28 IST
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 per cent of our employees starting April. For rest of the employees, primarily middle management and senior management, it will be effective July 1. 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 March 31, 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 per cent as compared to 15.8 per cent in the previous quarter.
“However, the high-performers attrition has come down dramatically at 9.4 per cent,” he added.
Talking about the business, Rao said revenues from digital services have increased to 26.8 per cent in the fourth quarter and for the entire fiscal, it stood at 25.5 per cent.
“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 per cent.
(This story has not been modified from its original version.)