According to the information given by the reports, Infosys is doubling salaries of its employees to create a flexible internal market place for our talent to grow instead of them leaving to join.
“We are focused on creating a flexible internal market place for our talent to grow, instead of them leaving to join, say, an MBA course. These programmes provide people with alternative career growth opportunities,” Krish Shankar, head of human resources at Infosys, was quoted in a newsreport.
Incorporating such programmes, Infosys is anticipating lower possibilities of employees leaving the job in order to get a better hike in rival companies, which in turn may lessen the attrition rate at junior positions.
Infosys has developed about six bridge programmes, some of them include, bridge-to-consulting, bridge-to-power programming, bridge-to-design, bridge-to-full stack-development, bridge-to-tech architecture, the TOI report said.
Infosys seems to one of those organisation which spends the maximum portion its expenses on employees. Infosys had parked Rs 32,472 crore under employee benefit expenses in FY18, up 4.94 per cent from Rs 30,944 crore in FY17, according to Infosys Annual Report 2017-2018.
With such an initiative of doubling pay packages through upskilling its own employees, there will be an eye on the employee benefit expenses of Infosys, going forward. For the quarter ended 30 September 2018, Infosys posted a 10 per cent YoY rise in the net profit to Rs 4,110 crore.