Employees of Infosys, the country’s second largest software company, will be paid 65 percent of variable pay for the September quarter. This is less than the previous quarter. Variable pay is linked to the performance of the company and the employee. It is usually included in the salary package of the employee.
Infosys sent an email to the employees Told That is, the average variable pay for the July-September period is 65 per cent. However, this payment for each employee will depend on his performance. The company had reduced variable pay to 70 per cent for the first quarter of the current financial year. The variable pay was cut in the June quarter due to a fall in margins. However, Tata Consultancy Services (TCS) did not reduce variable pay for the first quarter. The slowdown and some other reasons are affecting the revenue and margins of IT companies. Because of this, the variable pay of the employees of some companies in this sector is being reduced.
Infosys has prepared a plan to call its staff back to the office in a phased manner. The company had recently informed the staff about this. Krishnamurthy Shankar, Infosys’ executive vice president and group head of the human resources division, had said that the company would allow staff flexibility. In the first phase, the staff will have to come to office two days in a week as per their convenience. In the second phase, transfer of staff or relocation to the branch of their choice will be allowed. Infosys has 247 offices in 54 countries. in the third phase company Taking the feedback of the last two phases, it will prepare its hybrid work policy.
The company’s CEO, Salil Parekh had said that Infosys is planning to bring all workers back to office. He said, “We will provide necessary support to the staff so that a large number of workers can return to the office. Along with this, flexibility will also be given.” TCS has also asked its staff to work from office for at least three days a week. The company has also warned of action against the employees who violate it.