The IT firm Infosys has promoted 4,000 employees in the month of October. The company is doing this in order to retain the important staff and also to boost the morale of the employees. With these promotions the total number of promotions reaches 19,000 since April, 2014. The promotions have taken place across various verticals ranging from sales, to delivery to business enabling functions.
This is the fourth time that the company has promoted its employees this year. The company has promoted 10,000 employees in the month of April and June. Moreover, the new CEO, Vishal Sikka approved 5,000 promotions within a weeks’ time of his joining. As reported by Economic Times, the company official said, “We announced a quarterly promotion system earlier this year. In August 5,000 employees across sales, delivery and business-enabling functions across geographies were promoted. With the promotions we did at the beginning of this month, over 19,000 employees have been promoted since April 2014.”
Along with the promotions Infosys also tries other ways and methods like offering 100% variable bonus payouts and crowdsourcing initiative called murmurations have not helped bring down attrition rates to get involved with the employees at various levels. Some of the industry experts also believe that these types of initiatives and methods help both the company and the employees.