The senior employees of Infosys are expected to get an increment by January 2019. The increment is said to be small, between three to five percent.
The junior level employees had a salary hike in April and the senior executives’ increments were scheduled for July which did not take place.
About 500 people who are associate vice-presidents, vice-presidents, senior vice-presidents, and executive vice-presidents will be benefited by the move, reports Times of India. The senior vice-presidents are also expected to receive restricted stock units too.
Along with the salary hikes, around 100 senior employees are also expected to be promoted.
The multinational company also wants to increase performance incentives for employees to motivate them to work harder.
The TOI report states that performance incentives for the senior employees depend on their digital performance, operating margins and revenue.
This move comes at a time when many IT companies are laying off their senior employees to make way for a younger demographic, who bring in new age knowledge to the company.
Cognizant offered voluntary retirement packages to their senior level employees while Tech Mahindra lowered the retirement age. Cognizant had also laid off 200 senior employees.
News credit : Msn.com