Infosys to offer promotions to its employees from September amid Corona crisis
The tech firm will offer promotions to all eligible junior and mid-level staff. The company has decided to roll out promotions to retain the staff and service clients on the back of strong deal. More than half of Infosys workforce will be eligible to receive promotions.
The promotions were stalled in April due to disruptions caused by the Covid-19 pandemic. With remote work becoming mainstream, clients have increased outsourcing to Indian IT companies. The companies have outpaced peers to capture higher deal flow. IT firms have forecast a growth of 0-2% in the fiscal year 2021.
Krish Shankar, global head of human resources at Infosys said, “However the compensation revision, we have put on hold. Some of the promotions, we are going to start this quarter. Promotions are also linked to where there are vacancies.”
Only the job level 5 and below level employees will be eligible for September promotions. The eligible levels include: Trainee Engineer, Systems Engineer, Senior Systems Engineer, Technology Analyst, Technology Lead (Level 5), Project Manager, Senior Project Manager, and Group Project Manager.
Infosys is the first Indian IT firm to announce promotions to its junior to mid-level employees. The global rivals like Capgemini and Cognizant have a significant presence in India. The other counterparts have already offered hikes and promotions.
For senior level workers, the IT firm will take a decision on promotions as the business situation improves. Most IT firms have even resumed hiring in India. The IT firms including Infosys, TCS, Wipro, HCL Technologies had frozen hiring amid Covid-19 situation.