Infosys Variable Pay: Infosys asked its employees to work from office for at least 10 days every month. Now it has given a good news to its employees. The company will give variable pay bonus to the employees.
Infosys Variable Pay: Recently, Infosys, one of the country’s largest IT companies, asked its employees to work from office for at least 10 days every month. Now it has given a good news to its employees. Infosys has announced quarterly performance bonus for the July-September quarter to eligible employees. The company will give an average 80% payout bonus this month.
Variable pay will be offered to employees below the Manager category, except Position Level 6 (PL6-Manager) and employees below this band – i.e. entry level employees. Variable pay is a bonus given to employees based on their performance.
How will the bonus amount be decided?
Unit delivery managers will decide the payout for their respective units and inform eligible employees this week, ET reported. The Bengaluru-based IT company had stopped salary increase in the financial year 2022-23. But it had started its Annual Appraisal Cycle from October.
The 80% payout is similar to the first quarter payout but higher than previous quarters in FY 2021-22 when the payout was 60%-70%.
Slow growth in revenue
Infosys has announced the performance bonus payout at a time when Infosys and other top IT companies have reported slow revenue growth in the September quarter. For your information, let us tell you that in recent months there has been a decline in the number of employees of other big IT companies including Infosys. The $245 billion IT industry is under pressure due to reduced technology spending due to global economic concerns.