In one of his first acts as chief executive of Infosys, Vishal Sikka has made staff retention one of his top priorities.
In one of his first acts as chief executive of Infosys Ltd, Vishal Sikka has made staff retention one of his top priorities and rolled out about 5,000 new promotions across the company as part of the drive, amid increasing attrition at India’s second largest software services exporter, where one out of every five employees leave the company every quarter.
At a town hall last week after taking over, Sikka had said that the company would promote and redesignate about 5,000 employees—all part of a move to ensure that Infosys regains its former stature of being an employer of choice for thousands of engineering graduates across the country. An Infosys spokeswoman confirmed the development.
The Economic Times reported on Friday that Infosys had promoted employees across sales and delivery functions across geographies. In January, co-founder and former CEO S.D. Shibulal had said that Infosys would promote 6,000-9,000 employees during the quarter and raise salaries of onsite employees by 2-3% as part of a staff retention drive. In its latest June quarter, attrition was nearly 20%—the highest among India’s top five software services exporters.
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