Infosys goes all out to retain talent, increases promotions, ESOP coverage

To retain talent, IT giant Infosys has increased its internal promotions by 3.5 times compared to last year and doubled its employee stock ownership plan (ESOP) coverage, according to a news report.

The IT industry, facing an alarming rate of attrition, has been doubling down on reskilling and retaining talent using various monetary and non-monetary compensations. In the first three months of the calendar year 2022, Infosys saw an attrition rate of 27.7 per cent.

Tata Consultancy Services (TCS), India’s largest IT firm by revenue, witnessed an attrition rate of 17.4 per cent, while HCL Technologies’ attrition rate was 21.9 per cent in the Jan-March quarter. For Wipro and Tech Mahindra, the attrition rates stood at 23.8 per cent and 24 per cent, respectively.