New Year came early to the Infosys employees as the company rolled out appraisal before the year's end. The strategic move has aimed at enhancing the satisfaction of the workforce, and the appraisal marks a departure from the company’s usual practice.
As per the report, by The Economic Times, Infosys has chosen to implement the salary revisions which took place from November 1, 2023- changing the timeline from the conventional timing of April.
About the early appraisal of Infosys
This is a must to mention that the adjustment has been made specifically to exclude entry-level employees from the review process. This will predominantly focus on more experienced professionals within the MNC. In a carefully crafted communication which was directed at the workforce, Infosys has expressed gratitude for the exceptional performance and commitment of its employees.
In an official note, the company stated, "We are pleased to adjust your compensation in recognition of your dedication and performance, effective from November 1, 2023.”
Salary hike
While the salary hike details remain unknown at the time of writing, some of the insiders from Infosys reported that the average increase has been expected to be in the single digits. The company provided a single-digit raise to the employees, while some of the workforces received low-double-digit increments.
Besides these variations, the average hike has been anticipated to remain below 10 per cent. and the highest has been expected to be around 100 per cent, given to selected employees.
Salary appraisal letter
As the move was a surprising one to the positive development from the company, the salary adjustment letters were distributed a couple of days before the much-anticipated Infosys 'Stellar Saturday Culture Carnival' event which has been scheduled for December 16 (2023).
The event is celebrated across various campuses of Infosys, based in India, and it is designed to showcase and celebrate the vibrant culture which defines the company.
Infosys comment
It has been noted that Infosys has chosen to remain silent on the details of the salary adjustments, and have made no official comments by the time of writing, about the appraisal and the reason for its early arrival.
