Infosys Announces 80% Bonus For Employees Based On Performances
Infosys has made news with its decision on bonuses for its employees. They have announced that they will be giving out a ‘variable payout’ for the July-September quarter.
This means that the amount of bonus each employee gets will depend on how well they did their job in that time. It’s not a fixed amount for everyone but varies from person to person.
Average Payout For Jul-Sep Quarter
On average, Infosys is planning to give a bonus of 80% of the variable pay. This is more than what they gave in the previous financial year, where the bonuses were between 60% and 70%. In simple terms, if the full bonus was supposed to be 100%, most employees would get around 80% of that.
Eligible to Receive the Performance Bonuses
Not all Infosys employees will get this bonus. It’s mainly for those who are in certain job positions, specifically up to level 6 managers (PL6) and those below them. But, the very new employees who just joined (entry-level) won’t be included in this bonus plan.
The employees who are eligible for these bonuses can expect them in their November pay. This means they will get this extra money along with their regular salary for November.
Infosys Appraisal Cycle, Ratings & Pay Raise Letters
Infosys has a yearly system of evaluating (appraising) its employees’ work, which starts in October and ends in September of the next year. During this process, each employee is given a rating based on their performance.
These ratings are usually shared with the employees in January. Following this, in June, the employees get letters that tell them if their pay is going to be increased based on their rating and overall performance.
It is really good to see how Infosys, despite facing tough times in the market, is rewarding its employees. This decision is expected to motivate the staff and also shows that the company values their hard work and contribution, especially in challenging times.