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    Compensation

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    SomalKant
    Infosys is a global IT consulting firm founded in 1981 that has grown to revenues of $6.6 billion. It aims to be a globally respected corporation through fairness, honesty, and courtesy towards clients, employees, and society. Infosys values client value, leadership by example, integrity, fairness, and excellence. Performance reviews are conducted bi-annually using an online system and employees are rated on a scale and relative to peers. High performers receive recognition and ratings impact compensation, salary reviews, and promotions. Salaries are determined based on job level, market rates, and individual performance.

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    Compensation

    Uploaded by

    SomalKant
    229 views28 pages
    Infosys is a global IT consulting firm founded in 1981 that has grown to revenues of $6.6 billion. It aims to be a globally respected corporation through fairness, honesty, and courtesy towards clients, employees, and society. Infosys values client value, leadership by example, integrity, fairness, and excellence. Performance reviews are conducted bi-annually using an online system and employees are rated on a scale and relative to peers. High performers receive recognition and ratings impact compensation, salary reviews, and promotions. Salaries are determined based on job level, market rates, and individual performance.

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    compensation management

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    Infosys is a global IT consulting firm founded in 1981 that has grown to revenues of $6.6 billion. It aims to be a globally respected corporation through fairness, honesty, and courtesy towards clients, employees, and society. Infosys values client value, leadership by example, integrity, fairness, and excellence. Performance reviews are conducted bi-annually using an online system and employees are rated on a scale and relative to peers. High performers receive recognition and ratings impact compensation, salary reviews, and promotions. Salaries are determined based on job level, market rates, and individual performance.

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    229 views28 pages

    Compensation

    Uploaded by

    SomalKant
    Infosys is a global IT consulting firm founded in 1981 that has grown to revenues of $6.6 billion. It aims to be a globally respected corporation through fairness, honesty, and courtesy towards clients, employees, and society. Infosys values client value, leadership by example, integrity, fairness, and excellence. Performance reviews are conducted bi-annually using an online system and employees are rated on a scale and relative to peers. High performers receive recognition and ratings impact compensation, salary reviews, and promotions. Salaries are determined based on job level, market rates, and individual performance.

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    At a glance
    Powered by AI
    Infosys is a global IT company founded in 1981 in India with revenues of over $6 billion. It aims to be a globally respected corporation and achieve its objectives with fairness, honesty and courtesy towards all stakeholders.

    Infosys' vision is to be a globally respected corporation. Its mission is to achieve its objectives in an environment of fairness, honesty, and courtesy towards clients, employees, vendors and society. Its values include client value, leadership by example, integrity and transparency, fairness, and excellence.

    Infosys evaluates employee performance through a bi-annual process using tools like 360 degree feedback. Employees are evaluated on personal skills, performance criteria and relative to peer groups. Key performance areas are also mutually set through manager-employee discussions.

    ABOUT INFOSYS

    Infosys Limited (NASDAQ: INFY) started on 1981


    by seven people with US$ 250.

    Today, it is a global leader in the "next


    generation" of IT and consulting

    Revenues of US$ 6.604 billion (LTM Q2-FY12).

    ABOUT INFOSYS
    Vision : "We will be a globally respected corporation."
    Mission : "To achieve our objectives in an environment of fairness,
    honesty, and courtesy towards our clients, employees, vendors and
    society at large.
    Values
    Infosys believes that the softest pillow is a clear conscience. The values that
    drive it underscore its commitment to:
    Client Value: To surpass client expectations consistently
    Leadership by Example: To set standards in our business and transactions
    and be an exemplar for the industry and ourselves
    Integrity and Transparency: To be ethical, sincere and open in all our
    transactions
    Fairness: To be objective and transaction-oriented, and thereby earn trust and
    respect
    Excellence: To strive relentlessly, constantly improve ourselves, our teams, our
    services and products to become the best.

    PERFORMANCE MANAGEMENT
    POLICY
    Steps for Performance Appraisal:
    Evaluation of personal skills for the tasks assigned to an
    employee during the period of appraisal.
    Evaluation of the performance, different criteria's were
    considered.

    The personal skills of the employees were also evaluated


    based on their learning and analytical ability etc.

    Each of these criteria was measured on a scale of 1 to 5.

    PERFORMANCE MANAGEMENT
    POLICY
    360 Degree Feedback
    Recognition for Adding Value
    Employee-Management Interface
    Focus on Learning
    Innovation
    Business Continuity Plan

    PERFORMANCE ASSESSMENT
    A bi-annual process.
    Various tools used are used.
    The system is called Online- PerforMagic.
    Consolidated relative rating is calculated.
    Assessment of an individuals performance
    relative to the peer group is carried.
    Rating ranges from 1+ to 4.

    KEY RESULTANT AREA


    KRAs are mutually set through a discussion between the manager
    and the employee.
    Self Assessment (by appraise)
    Review by Team Leader in a one to one meeting between the project
    manager and the software engineer.
    Final review by the project Manager (Reviewer)
    Finally the points are given.
    The report is sent three levels higher.
    Then it is sent back to the engineer to find if he/she is satisfied.
    If it is agreeable then it is finalized.
    There is a salary hike or a band change accordingly.

    This entire system is online. Hence everyone involved in the


    process gets to gets track of it. This ensures transparency.

    RATINGS
    Combined Ratings impact three key
    areas:
    Performance Incentives
    Salary Reviews
    Promotions

    Star performers awarded with STAR


    INFOSIAN Certificate.

    COMPENSATION POLICY
    There are three basic strategies for an
    organization's salary policy:

    In the jobs that we studied, SAP BI


    Consultant and Software Engineer,

    SALARY REVIEW OF EMPLOYEES

    SALARY REVIEW OF EMPLOYEES

    SALARY REVIEW OF EMPLOYEES

    SALARY REVIEW OF EMPLOYEES

    Sizing of the Job


    Cluster approach

    8 Levels
    Cluster approach is
    followed to size the job,
    based upon the Job
    evaluation.
    Sizing of the job of SAP BI
    Consultant is done at
    LEVEL 4 and Software
    Engineer is done at LEVEL
    2.

    Prizing of the Job

    Comparison of the Salary of SAP BI Consultant at


    Infosys with other IT Companies in India

    The Average Salary offered by the Industry is INR 401232


    but Infosys is following a Lead strategy and paying at the
    92th percentile of the Industry (Source: Payscale.com)

    Salary Slip of SAP BI Consultant- Infosys


    Name

    Depart
    ment

    xyz

    Finance

    Total

    63518

    Basic

    HRA

    176
    00

    Deductions

    112
    25

    Medic
    al

    Travel
    Allowan
    ce

    7016

    PF
    Contributions

    5060

    2806

    Pers Designation Emp


    Leve
    code
    l
    4
    SAP BI
    14000
    Consultant

    Fixed
    Dearnes
    s
    Allowan
    ce

    1100

    Professional
    Tax

    2244

    Leave
    Travel
    Allowan
    ce

    IPI

    515
    6840
    5

    7016

    Income
    Tax

    200

    Monthl
    y CPI

    Infosy
    Welfare
    Trust

    2391

    Account
    No.
    3005863
    0352

    Different
    ial CPI

    1207.0

    GYM
    facilities

    200

    25

    Net Pay

    58458

    Bonu
    s

    355
    3

    Comparison of the Salary of Software


    Engineer at Infosys with other IT
    Companies in India
    For the job of a software engineer, Infosys is at 68th percentile with a salary of INR
    3.25 lakhs where the average is 2.77 lakhs.

    COMPARISON

    COMPARISON

    Infosys Board
    Compensation
    The compensation committee determines and recommends to
    the Board the compensation payable to the directors.
    All Board-level compensation is approved by the shareholders
    and separately disclosed in the financial statements.
    Remuneration of the executive directors consists of a fixed
    component and a performance incentive.
    The compensation committee makes a quarterly appraisal of
    the performance of the executive directors based on a detailed
    performance-related matrix.
    The compensation payable to the independent directors is
    limited to a fixed amount per year as determined and approved
    by the Board, the sum of which is within the limit of 1% of net
    profits for the year, calculated as per the provisions of the
    Companies Act, 1956.

    Infosys Board
    Compensation

    Non-executive / independent directors' remuneration


    Section 309 of the Companies Act, 1956, states that a
    director who is neither in the whole-time employment of
    the Company nor a managing director may be paid
    remuneration by way of commission, if the Company, by
    special resolution, authorizes such payment.
    Members of the Company at the Annual General Meeting
    held on June 22, 2007, approved payment of remuneration
    by way of commission to non-executive directors, at a sum
    not exceeding 1% per annum of net profits.

    Thank You

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