Infosys to give cash sops to employees taking part in interviews to help hiring
India's second largest software major
Infosys
has introduced a cash reward policy for senior employees who conduct interviews for lateral hiring, in what is seen as a move to boost employee morale.
An employee will earn 700 points (Rs 700) per interview. Employees can claim the incentive for interviews in the past five months as the programme takes effect retrospectively from January 1, sources told ET.
This is the first time Infosys has embarked on such an incentive-led programme, a senior employee said. The Bengaluru-headquartered IT major's policy, however, limits the cash incentive for hirings within India. This is an acknowledgement of employee support for the interview process as the IT sector focuses on lateral recruitment over slowing campus hiring.
According to an employee, this move is to encourage team managers and mid-level leaders to get external talent and push employees to reach out to more quality candidates.
At Infosys, tech professionals such as track leads, architects and project managers across job level 5 and 6 (JL5 & JL6) routinely interview candidates shortlisted by the talent acquisition team for lateral hiring over 2-3 rounds before the candidate progresses to the HR round.
The company, however, has excluded employees in the HR and talent acquisition teams, sub-contractors and titleholders (senior leadership) from the reward programme. Employees cannot claim the incentive if an interview is cancelled or a candidate does not show up.
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Infosys did not respond to an email seeking comment.
TCS
,
Wipro
, HCLTech and Accenture did not respond to queries on the subject.
Infosys's reward programme comes at a time when the $280 billion software services sector is experiencing a shortage of experienced people with specialised skills, especially in AI, amid growth pangs due to weakening global demand and trade wars in their key growth markets.
The Salil Parekh-led firm also conducts weekend recruitment drives in which many candidates participate. At such events, an employee could participate in 10-15 interviews a day assessing a candidate's competence in software skills such as Python, Java, Machine Learning, DevOps, etc. The cash reward encourages to interview more candidates.
A senior Infosys executive said the scheme was aimed at pacifying a section of employees disappointed with pay hikes of 5-8% for FY24 and the subsequent lower performance bonus payout for the March quarter.
'Earlier, we did not get any such cash incentive for interviews done. In fact, the company gave us compensatory leaves for the interviews conducted at the campus over the weekends,' the employee said.
While not many firms have such a policy, some large and mid-sized technology companies such as
Honeywell
, Accenture and
Sonata Software
are known to give both cash and non-cash incentives to encourage employees to be part of interview panels and be invested to attract best talent from the pool of available candidates within the industry.
Honeywell India vice president (HR) Arppna Mehra said they reward employees by way of a training outside of his or her domain area, helping them acquire leadership skills.
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