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The spat between <a href="http://www.businessinsider.in/searchresult.cms?query=infosys&amp;sortorder=effectivedate">Infosys</a> founders and the board members regarding the pay packages and governance issues is getting uglier. 
 On one hand where <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> founders are raising objections over pay hikes and severance packages of the people at the helm, the board is saying not much has been raised in the salaries of the top management. 
 
Infosys founder <a href="http://www.businessinsider.in/searchresult.cms?query=narayana+murthy&amp;sortorder=effectivedate">NR Narayana Murthy</a> wrote a letter criticising pay hike given to <a href="http://www.businessinsider.in/searchresult.cms?query=pravin+rao&amp;sortorder=effectivedate">Infosys COO Pravin Rao</a>, calling it unjustified. 
 
However, <a href="http://www.businessinsider.in/searchresult.cms?query=vishal+sikka&amp;sortorder=effectivedate">Infosys CEO Vishal Sikka</a> said pay hike is critical to retain top talent. 
 "It is essential for us to see that this revision in his compensation, as with several of our senior leadership team, is focused on making Infosys more competitive, is benchmarked against peers. (It) is critical for us to retain key talent and align the long-term interests of our leadership team with that of our shareholders," said CEO <keyword id="6369763" type="PERSON" weightage="100" keywordseo="Vishal-Sikka">Vishal Sikka</keyword>. 
 
Meanwhile, Infosys stated the stock given to Rao has a vesting period of four years. This means the net increase in his compensation for fiscal 2018 will be 1.4% which could go up to 33.4% in the fourth year, assuming similar grants are made in subsequent years. 
 
The company said cash component of Rao's salary, including annual cash bonus, has fallen 10.6% to Rs 4.6 crore from Rs 5.2 crore earlier while the performance-based component, directly linked to company and individual performance, has been increased to 63% from 45% of total compensation. 
 
"I do not see Rao's compensation as a corporate governance issue. That is because it is not a related party transaction. Rao is a professional and not a promoter," said JN Gupta, managing director at Stakeholders Empowerment Services. 
 
The issue will be discussed during the two-day board meeting, which is scheduled for April 12 and 13.

Infosys founders Vs board: Here’s what CEO Vishal Sikka said in COO Pravin Rao's defence

<keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword>, which is India's second-largest software exporter after Tata Consultancy Services, has found a way to make its employees even happier. It has started handing out special bonuses and incentives to top-performing employees and sales executives, on top of their regular salaries and incentives. 
 
The company also plans to hire about 20,000 engineering graduates from campuses in the next financial year, a number roughly similar to the campus offers that were made this year, as per a top company executive. 
 "What we are trying to experiment with is — we have a regular compensation structure which is base plus bonus. And bonus component depends on how the company and individual has performed. So, that structure will continue — in addition, every quarter based on what we think is imperative, we're experimenting (with something new) and this changes every quarter. So suppose, this quarter there is an important metric, we are announcing a (separate) incentive," said <keyword id="645752" type="UNKNOWN" weightage="100" keywordseo="UB-Pravin-Rao">UB Pravin Rao</keyword>, who is the Chief Operating Officer of Infosys. 
 
Rao also said that this special incentive structure has been put in place so that the company can meet its short-term quarterly targets in an even effective manner. For example, in this quarter, Infosys is incentivising its sales organisation on how well they manage to sell the company's newly-launched Aikido line of services. 
 
"We're saying, if you meet X million of revenue, then we'll clear this kitty and over and above the net, we'll give them this much. So those are incremental bonuses or incentive schemes that we've come up with, just to make sure that there is more alignment to some of the short-term things we're trying to do, in addition to regular bonuses which is based on overall performance," Rao told ET. 
 
"This half, the focus is more on selling our new Aikido services. So, we're trying to incentivise people on that. So whoever does X million of revenue, over the next 6 months, there is a separate kitty that is given out to them," he added. 
 
In other news, Infosys is in early internal discussions so that it can potentially revamp its current startup incubator program and launch an accelerator-like program within the company. This program would be exclusively for startups, as confirmed by two people with direct knowledge of the matter, on conditions of anonymity. 
 
Rao, however, insisted that these talks were at a "very early stage" and the company is yet to take a final call on the shape and form that it will finally resume. 
 
<a href="http://poetsandquants.com/wp-content/uploads/2014/02/10379313-54b8-4448-b3fa-367be8ac368bInfosys.jpg">Image source</a>

Infosys readying Diwali gift for its employees and it's
special this time!

<ul><li><keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> gave its employees 100% variable pay over the last three months and restarted the promotion process for junior level employees. </li><li>Over the next three months, the promotions process will also come in for senior employees along with any salary hikes. </li><li>However, Infosys CFO Nilanjan Roy highlighted that the new measures are likely to impact margins in the second half of the current fiscal year. </li><li>Infosys plans to add 16,000 freshers to its roster during the current fiscal and another 15,000 next year.</li></ul>Infosys has witnessed a stellar second quarter with a 16.2% jump in profits over the last three months. It’s rewarding its shareholders with an interim dividend of ₹12 per equity share and its reinstating wake hikes, promotions and other measures for employees. <div type="Article" hostid="261" msid="78659827" title="Infosys second quarter earnings deliver on all fronts led by highest ever deal wins worth $3.15 billion — raises annual guidance to 2% to 3%" mstype="2" mssubtype="0"></div> The impact of these measures, some rolled out between July to September, could already be seen in the company's voluntary attrition rate at 7.8%. "Attrition has come down dramatically due to more employee engagement during COVID-19," said Infosys COO Pravin Rao during the second quarter earnings call. Infosys added around 5,000 freshers and 2,500 new lateral hires to its rosters in the second quarter. According to Rao, the company is looking to add a total of 16,000 freshers overall during the current fiscal and another 15,000 next year. <div type="image" title="Copy of attrition rates it companies" msid="78660846" hostid="261" caption="&amp;lt;p&amp;gt;Infosys attrition rate drops to 7.8%, the lowest it&amp;#39;s been in at least the past three years&amp;lt;/p&amp;gt;"></div> Infosys rolls out incentives for employees In the second quarter, it has already doled 100% variable pay. Infosys’ junior employees were also awarded a one-time special incentive over the last three months. However, there is a flip side. These measures are likely to affect margins. “Going into the second half, some of these cost increases will now come back like wage hikes, promotions, hiring etc,” said Infosys CFO Nilanjan Roy. Even so, the company has increased in annual margin guidance to between 23% to 24% and hiked the annual revenue guidance to between 2% to 3%. Over the next three months, the salary increase process will be restarted for senior employees as well, effective from January 1, 2021. “I’m thankful to all our employees for staying deeply to serve our clients. They’ve navigated their own challenges associated with the ongoing coronavirus situation,” said CEO Salil Parekh. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tcs-announces-16000-crore-buyback-strong-show-in-q2-with-over-20-rise-in-profit/articleshow/78536532.cms">TCS announces ₹16,000 crore buyback — strong show in Q2 with 7% rise in profit, margins near two-year high</a> <a href="https://www.businessinsider.in/stock-market/news/wipro-share-price-dips-after-earnings-report-analysts-believe-it-will-take-a-while-to-catch-up-to-tcs-and-hcl-technologies/articleshow/78654023.cms">Wipro’s share price dips by over 6% after earnings — analysts believe it will take a while to catch up to TCS and HCL Technologies</a> <a href="https://www.businessinsider.in/business/corporates/news/wipro-ceo-thierry-delaporte-outlines-five-point-strategy-for-growth-looking-at-more-acquisitions-and-larger-deals/articleshow/78643942.cms">Wipro CEO Thierry Delaporte outlines five-point strategy for growth — looking at more acquisitions and larger deals</a>

Infosys to reinstate wage hikes, promotions and hiring — will impact margins over the next six months

<ul><li><keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> temporarily froze hiring, promotions and appraisals in view of the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">Coronavirus</keyword> pandemic. </li><li>It will onboard all the campus and lateral hires to whom they made job offers. </li><li>However, Pravin Rao, COO at Infosys, did not hint of any furloughs or layoffs. </li><li>The company said that all the 6,000 trainees will now continue their training remotely. “There are assessments, certifications and other online training to facilitate remote programmes,” Rao added. </li><li>Rao said that the company is planning to make more than 35,000 offers in FY21.</li></ul>Infosys, in its latest earnings call, said that it has temporarily froze hiring, promotions and appraisals in view of the Coronavirus pandemic, calling it a ‘no regret’ move. For IT giants wages, employee costs and campus placement drives make up for over half of its operational costs. ‘We will honour all offers made — freshers and lateral hires’ Infosys however said that it will onboard all the campus hires. With this, it joins the likes of Accenture, Tata Consultancy Sevices (TCS) and other tech giants who will honour all the job offers made in the last financial year. A large number of companies have rescinded campus job offers forcing even IITs to hold a second placement drive in late July and August. “We are yet to onboard only a small percentage of campus hires we made offers to so far,” said Pravin Rao, COO at Infosys. The technology multinational made 18,000 job offers the last financial year. It said it will also onboard the lateral hires. “We will honour all the commitments made to campus hires — freshers as well as lateral. As far as onboarding timelines are concerned, we have already hired a few lateral employees, while in lockdown,” he said during its Q4 earnings call. Employee count decreases by over 1,000 <div type="image" title="infy employees" msid="75253862" hostid="261"></div> There has been a decrease in the employee headcount — by over 1,000. The employee count at Infosys stood at 243,454 during the third quarter ending in December 2019 — higher than 242,371 as of March 2020. “We should not read into the fall in employee count, it is not a secular trend,” Rao said. He did not hint any furloughs or layoffs, given the Coronavirus chaos. Going forward, Rao said that the company is planning to make more than 35,000 offers in FY21. “In the near term, there will be a demand-supply mismatch because we were already geared for high volume in the first quarter. We have to ensure that the utilisation rates go up,” said Nilanjan Roy, CFO at Infosys. Remote assessment for nearly 6,000 trainees Infosys claims to have a strong digital footprint. The company said that all the 6,000 trainees will now continue their training remotely. “There are assessments, certifications and other online training to facilitate remote programmes,” Rao added. In fact, as much as 93% of the employees at Infosys are now working from home, thanks to the lockdown. The focus is on employee safety. “We will revisit as the situation evolves, keeping the safety of employees a priority. We will also take initiatives like temperature check etc,” the company said. However, as a new normal emerges after the lockdown ends, just like TCS, Infosys also plans to retain work from home. See also: <a href="https://www.businessinsider.in/careers/news/tcs-cognizant-capgemini-and-other-top-giants-who-are-not-letting-go-of-their-new-hires/articleshow/75136446.cms">TCS, Cognizant, Capgemini and other top giants who are not letting go of their new hires </a> <a href="https://www.businessinsider.in/careers/news/capgemini-india-cognizant-and-others-who-are-giving-salary-hikes-in-times-of-coronavirus/articleshow/75151960.cms">Capgemini India, Cognizant and others who are giving salary hikes in times of Coronavirus</a>

Infosys has a new 'no regret' policy when it comes to employees

(Eds: Adding details) New Delhi, Apr 20 () Infosys on Monday said its few employees globally have tested positive for COVID-19, and it has undertaken contact tracing measures to identify colleagues, who interacted with them, in order to ensure they are appropriately quarantined.However, the Bengaluru-based company - which announced its Q4 and FY20 earnings on Monday - said it will get employees back on premises in a staggered manner while following all protocols to ensure safety of staff amid the coronavirus pandemic."A few Infosys employees across the world have tested positive for COVID-19. The company is in touch with them and their families to provide active and continuous support to help them through the rest and recovery," Infosys said.The company added that it has undertaken contact tracing measures to identify colleagues, if any, who have interacted with them and ensuring that they are appropriately quarantined.With lockdowns effective in several parts of the world, Infosys said 93 per cent of its global workforce is now working from home and the company has a strong focus on ensuring security of client data.Infosys is approaching plans in the weeks ahead "with cautious optimism", while carefully monitoring advisories and adapting tactics to policies and injunctions in the cities, states and countries that it operates in."Our plan is to come back in a gradual manner, we are not in hurry to come back aggressively. In phase one, less than 5 per cent of employees will come back to work for 3-4 weeks. In the next 4-8 weeks, maybe it will become 15-20 per cent in a gradual manner. We will follow very high standards of safety, temperature check and social distancing," Infosys COO Pravin Rao said.He added that the company - which has over 2.4 lakh employees globally - is also exploring if it can set up testing facility.Infosys said it will honour the job offers it has extended to the markets, in order to enhance the skill-sets it can bring to recovery-focused client environments. However, promotions and salary hikes have been put on hold. Rao asserted that the company is not looking at any COVID-19-related layoffs "at this stage". He also noted that Infosys will make 35,000 job offers in FY21.Infosys CFO Nilanjan Roy said in the near term, there will be a demand-supply mismatch "because we were geared for high volume in the first quarter"."We have to ensure that the utilisation rates go up," he added. SR MBI BALBAL

Few employees globally tested positive for COVID-19, undertaken contact tracing steps: Infosys

<ul><li>Infosys plans on hiring 18,000 fresh graduates via <keyword id="121400" type="PERSON" weightage="20" keywordseo="campus-placements">campus placements</keyword>. </li><li>In 2018-19, IT giant hired around 8,000 employees — including 2,500 freshers. </li><li>Owing to the H1-B visa restrictions, the company hired 10,000 American locals in the US to sustain its operations. </li><li>The US accounts for 60% of the company’s overall revenue.</li></ul>Infosys — second largest software exporter in India — is planning to boost its workforce with aggressive campus placements drives. It plans to hire nearly 18,000 freshers during this financial year, according to reports. The technology major recruited 906 professionals during the first quarter. In the 2018-19, the IT giant hired around 8,000 employees — including 2,500 freshers. At present, Infosys has 229,000 employees across locations, ET <a href="https://economictimes.indiatimes.com/jobs/infosys-to-hire-18000-people-from-campuses-in-fy20/articleshow/70197777.cms?from=mdr">reported</a>. As on March 2019, Infosys added 228,123 employees, of which 214,727 were deployed in service delivery roles, the company’s annual report said. However, the company witnessed a rise in the attrition rate to 23.4%. The company offered over ₹10.2 million annual salary each to around 60 employees within the country. TCS also added 12,356 employees in the company during the first quarter of the financial year — its highest ever in the last five years. Global workforce expansion As fewer of its employees are getting visas to work in the US, Infosys also recruited 10,000 American employees by the end of June quarter. The US accounts for<a href="https://www.business-standard.com/article/companies/infosys-completes-localisation-target-for-us-hires-10-000-employees-119071400021_1.html"> 60% of the company’s overall revenue</a>. It is increasing headcount in the country after H1-B visa restrictions, Business Standard reported citing U B Pravin Rao, Chief Operating Officer. Infosys has over 2,200 overseas Indian employees making over ₹10 million annually. According to the US think-tank <a href="https://www.businessinsider.in/tcs-and-infosys-face-most-rejections-on-h1-b-work-visa-extension/articleshow/68316202.cms">Centre for Immigration Studies</a>, H1-B work visas applied for by TCS, Cognizant and Infosys faced the most rejections. See also: <a href="https://www.businessinsider.in/tcs-has-36-women-employees-in-the-workforce/articleshow/70190643.cms">TCS is running on women power, with over 150,000 permanent employees</a> <a href="https://www.businessinsider.in/usa-has-passed-a-bill-to-help-indian-it-professionals-get-permanent-residency/articleshow/70170952.cms">Indians can get permanent residency easily in the US, if the Senate clears the Bill</a> <a href="https://www.businessinsider.in/tcs-wipro-infosys-and-it-companies-hit-by-budgets-buyback-shares-tax-and-increase-in-minimum-public-shareholding/articleshow/70136810.cms">TCS, Wipro, Infosys and peers may have to review share buyback plan as the new budget may take a bite out of it</a>

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Infosys founders Vs board: Here’s what CEO Vishal Sikka said in COO Pravin Rao's defence

BI India Bureau

Infosys readying Diwali gift for its employees and it's special this time!

BI India Bureau

Infosys to reinstate wage hikes, promotions and hiring — will impact margins over the next six months

Prabhjote Gill

Infosys has a new 'no regret' policy when it comes to employees

Prerna Sindwani

Few employees globally tested positive for COVID-19, undertaken contact tracing steps: Infosys

PTI

After TCS, Infosys on a hiring spree — plans to add 18,000 freshers via campus placements

Prerna Sindwani

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