Indian IT Infosys expects to give employees a salary increase in January 2019. However, it is expected that this increase will be in smaller single figures, especially between three and five percent.
This time, the company is expected to focus more on the performance incentives towards digital contracts, the Times of India reported. Junior employees of Infosys received a payment in April this year. According to ToI, the company planned an increase for senior management for July 2018, but it was delayed.
The total number of senior employees of Infy is approximately 500, including vice-presidents, associate vice-presidents, vice-presidents and executive vice-presidents. In addition to raising wages, some 100 senior employees can also benefit from a promotion. Vice-presidents are also expected to receive restricted units of action.
According to the ToI report, in addition to digital performance, boosting performance for Infy's senior staff will also depend on operating margins and revenues. Infy's move came at a time when many other IT companies are eliminating employees, especially seniors. They have done this to induce more fresh ones with new age knowledge.
Tech Mahindra reduced the retirement age, while Cognizant offered his senior employees a voluntary retirement offer. It also fired 200 seniors.
Earlier this year, a survey conducted by Aon India Consulting on annual wage growth predicted an increase in India's average single wage in the IT sector. The increases this year by IT companies in India are in line with the expected trends.