Infosys To Roll Out Fresh Appraisal Cycle Amid Pending Last Year Hikes

Information technology behemoth Infosys' employees will soon receive some good news as the business is about to start a new cycle of appraisals. The cycle for the current fiscal year might begin as early as this week. On September 29, Infosys will launch its "performance review cycle-October 2023" with a self-evaluation.

According to the email, individual employees would be informed of their ratings in the first week of December, the Economic Times reported. Performance from October 2022 to September 2023 is the time period covered by this evaluation.

Two employees said that even though a new appraisal is planned, the previous cycle of appraisals (October 2021 to September 2022) did not result in raises for them, according to Economics Times. Additionally, it is unclear whether or not the future cycle will include the planned hikes, they stated on the condition of anonymity.

The headcount of Infosys decreased and was 3.36 lakh in the April-June 2023 quarter, down 6,940 from the previous quarter. With a 17.3% rate during the June quarter, attrition continued to decline. In the quarter ending in June of the previous year, the attrition rate reached a high of 28.4%.

In order to save money during the pandemic year of 2020, Bengaluru-based Infosys is rumoured to have suspended salary increases; however, increments began to be implemented in January 2021.

In July 2022, Infosys last introduced hikes. An employee claims that although they received ratings for the prior period (Oct. 2021-Sept. 2022), salary increases were not reflected in the ratings.