Infosys to double the pay package of its employees who have successfully completed the new bridge programs. The well-architectured bridge program help staff to be ready for the job that demands higher skills. Along, with that company expects this initiative will reduce the attrition at junior level and give them more growth options as in recent times the attrition rate is over 20%.
For, Infosys the bridge-to-consulting programme, started this year, targets young employees who on average have spent three years with the company. Infosys has developed more than half-a-dozen bridge programmes and about 400 people have been trained under these bridge programmes so far. Infosys reportedly stated that the employees who opt for these bridge programmes have seen their salary rise by 80-120 per cent.
Krish Shankar, head of human resources at Infosys, told TOI:
“We are focused on creating a flexible internal market place for our talent to grow, instead of them leaving to join, say, an MBA course. These programmes provide people with alternative career growth opportunities.”
Asked if Indian companies were late to map careers for their employees, Shankar said firms were doing it. “As the industry changes, demand for people with specific skills is growing. Earlier, consulting was seen more as an MBA profile,” he said.
Infosys, expects that incorporating these well-architectured bridge programme not only developed the skill of emplyees but also lower possibilities of employees leaving the job in order to get a fatter salary and better job opportunities. The TOI said, Infosys has developed about six bridge programmes, some of them include, bridge-to-consulting, bridge-to-power programming, bridge-to-design, bridge-to-full stack-development and bridge-to-tech architecture.
According to Infosys Annual Report 2017-2018, for FY’18 it had parked Rs 32,472 crore under employee benefit expenses, up 4.94 per cent from Rs 30,944 crore in FY17. For the quarter ended 30 September 2018, Infosys posted a 10 per cent YoY rise in the net profit to Rs 4,110 crore.
The company declined to disclose the base salary on which the increases have been provided. But considering that a fresh engineering graduate starts at about Rs 3.5 lakh per annum and assuming an average hike of 10% for three consecutive years, a bridge programme could take the salary close to Rs 9 lakh, similar to what an MBA graduate may receive.
To make employees skill better and let them stay in company for a longer period the Indian IT firms like Infosys including TCS and Wipro are coming up with various methods to skill their employees in fields like automation, artificial intelligence, machine learning and consulting.
This is really a good news for the employees of Infosys, India’s second-largest IT services company as Infosys double salary and upskill them as well.
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