Short of talent, Infosys offers up to 25% salary hike to high-potential employees

Limited talent pool in artificial intelligence, cloud computing, data science etc. has prompted IT major Infosys to offer significant salary hikes plus bonuses.

The salary hikes could range from 12% to 13% on average and for high-potential employees it could rise to up to 25%.

Currently, Infosys has a workforce of 3,14,015 employees. With all the incentives, it aims to draw more talent as well as fresh recruits. As reported by The Mint, Infosys hired 85,000 freshers last fiscal and has plans to recruit 50,000 college graduates in financial year 2022-23.

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It is not just money on offer. The Infosys top management has realised that it needs to give opportunities to its employees to work in different teams and learn in-demand skills such as artificial intelligence and machine learning.

Disruption caused by the pandemic, phenomenal growth of the e-commerce sector and rising demand for IT talent have increased Infosys attrition rate to 27.7% in March this year, faster than the 10.9% in the year-earlier and 25.5% turnover rate in the three months ended December 31, the Mint reported.

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During this time, Tata Consultancy Services Ltd (TCS) reported an attrition rate of 17.4% for the March quarter while Wipro reported an attrition rate of 23.8%.