Infosys has given promotions to employees falling between the L3 and L5 categories, according to sources. The job level 3 is for software programmers and the next levels are for higher designations. The company, which reported an attrition rate of 19.5% at the end of first quarter of FY15, has given out 7,500 promotions during the April-June period. It has taken several measures to control the attrition rate, such as reducing the variable component in the salary structure, having a quarterly promotion cycle and putting in place a fast-track career programme for top performers, among others.
Infosys has given salary hikes of 6-7% to its employees in India and 1-2% to those on site, effective April 1. Other Indian IT majors have also given salary increases for FY15, with TCS being the highest at 10% followed by Wipro at 6-8%.
Vishal Sikka has reached out to the companys former employees seeking greater connect. The e-mail sent to them last week said, I have often heard it said that once an Infoscion, always an Infoscion. Friend, you stand testimony to this fact, and I know I can look forward to our continued association and your support as an ambassador for Infosys.