In a move to tame attrition Infosys, on Friday, announced 100 per cent variable payout to its employees for the December quarter. This is the second consecutive quarter where the company is paying its employees 100 per cent variable pay.
“We have made 100 per cent variable payout for Q3, and have seen a further decline in attrition as a result of multiple initiatives taken over the last few quarters,’’ Infosys Chief Operating Officer U. B. Pravin Rao said.
In the third quarter ended December 31, 2014, attrition was marginally up to 20.4 per cent (LTM) when compared to 20.1 per cent at the of the September quarter. However, the company said the utilisation for the quarter was around 82.7 per cent, which is the highest utilisation in 11 years.
Company CEO Vishal Sikka said, “In absolute terms, the attrition has come down. In Q3, we saw attrition of about 8,900 from about 10,100 in Q2 and 10,600 in Q1. We are seeing continued drop in attrition, which we continue to monitor and continue to be excited about as we look to the future.”
