Infosys Ltd handed out salary hikes that were higher than last year to the bulk of its employees and said it will roll out stock options for top performers as well, after the company posted better-than-expected results with a 1. Human resource HR consultancy firm Aon Hewitt predicted a salary hike of 9.
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Overall, Indian firms are expected to give hikes to the order of The IT services business has been giving hikes in single digits for the past four years as the impact of salaries on revenue is considerable. In a bid to attract and retain talent in this highly competitive market place, the company, after a hiatus of about five years, said its top performers will also be given incentives in the form of stock options for executives and restricted stock units for other employees, U.
Pravin Rao, chief operating officer, said, adding that this was increasingly becoming a global standard.
The company also promoted 2, people in the quarter, taking the total promotions given during the year close to 8, significantly lower than the 14, promotions it gave in fiscal as it got a better handle restricted stock options infosys attrition, explained Lobo.
The attrition rate improved to Infosys also elevated three of its executive vice-presidents to the rank of president.
Head of financial services Mohit Joshi, head taxability of nonstatutory stock options delivery S. Ravi Kumar and head of retail Sandeep Dadlani have been elevated to the rank of president, said a company statement.
Infosys chief executive officer Vishal Sikka said this move was to bring more operational bandwidth at the leadership level. He added stock options dilute equity the company is increasingly looking to hire locally and reduce its dependence on visas.
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A file photo of Infosys campus.Negotiate the Right Stock Option Offer (For Startup Employees)
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