New Year cheer for Infosys employees!
Nutan Gupta / 13 Jan 2014
After a lot of ups and downs which brought back NRN Murthy back to handling the reigns of the company, Infosys which is battling a high attrition rate especially at the top has announced is intent of sticking to the April-March cycle of rewarding employees. Will it work out?
The company’s December quarter results have been quite in line with expectations. Infosys has a unique nature of under-promising and over-delivering on its performance. This time it has gone one step ahead and surprised its work force.
It reported a net profit of Rs 2875 crore for the October-December quarter and has managed to send some signals across the board that it plans to cheer its employees by announcing a salary hike in April 2014. The company, which employs 1.58 lakh people, desires to get back to the April cycle, unlike last year when it gave increments in July.
"Our desire is that we should get back to the April cycle. That's what Shibu, BG, Pravin, Rajiv and I are working on. It's still work in progress, so we cannot comment. Our desire is to get back to the old cycle," said Murthy at the time of releasing the December quarter results.
One of the major factors that has probably triggered this decision is the attrition rate which was as high as 18.1 per cent in the December quarter, as compared to 17.3 per cent in the September quarter. The spate of senior level exits that the company has seen of recent adds to that worry.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.