Good news! Infosys announces up to Rs 8 lakh incentive package for THESE employees – Check details
good news! infosys announces up to rs 8 lakh incentive package for these employees – check details
On Monday, the IT giant Infosys announced a transfer policy that includes an incentive package for employees who want to transfer to its Hubballi development centre.
Infosys has taken this step to strengthen its operations in the tier-2 city in the Mumbai-Karnataka region.
The company informed its employees in an email that the location has a big potential for growth and "is waiting for a talent like you to build the future".
"It's your turn to grow glocal and consider pursuing your career at Hubballi DC," Infosys said, as cited in an ET report.
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Infosys new incentive package
The regulation applies to employees in band 2 and higher who handle projects (delivery) from any development center in India. Employees in bands 3 and lower would receive Rs 25,000 at the time of relocation (transfer), followed by Rs 25,000 every six months for the next two years. Employees at these levels will receive Rs. 1.25 lakh at the end of 24 months. Others will receive Rs 2.5 lakh (level 4), Rs 5 lakh (level 5), Rs 6 lakh (level 6), and Rs 8 lakh (level 7), with an initial relocation allowance, at the end of 24 months.
Employees in Bands 2 and 3 are entry-level employees honing their abilities on projects.
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According to ET report, the company's policy is to encourage employees from Mumbai and Karnataka to pursue chances in their home region. This would also enable the IT firm to maximse the utilization of the modern facility's equipment and save money, they added, adding that the policy has a bonus in that it allows staff to work on their existing projects from Hubballi.
Furthermore, Karnataka's industries and infrastructure minister, MB Patil, praised Infosys' incentive approach.
Taking to his X account, Patil said, “Hubballi Set for Growth: Infosys Spurs Local Growth with Incentives I applaud Infosys for offering incentives to employees transferring to its Hubballi campus. This move encourages local talent from the Kittur Karnataka region to explore opportunities closer to home, fostering community ties and local development. Infosys' commitment to state-of-the-art campuses and employing thousands of engineers globally exemplifies its leadership and positive impact on regional economies.”
“This initiative not only supports local growth but also showcases Infosys' dedication to innovation and employee welfare in the tech industry,” said Patil.