In a bid to attract top talents from the premier institutes in the country, India’s second largest IT services provider Infosys has introduced a new programme.
Through the new initiative christened as ‘Expert Track’, Infy is looking at bright minds from institutes such as IIM and IIT and other top tech and B-schools. While the initiative is driven by the Infy recruitment team, the methodology, selection criteria, procedures, interviews and subjects would be different from normal campus recruitment.
Traditionally, Indian software services companies have failed to attract the cream from top Indian tech and B-schools as the pay offered is not competitive with that of top tech companies and start-ups.
The people selected through stringent selection procedures are put in a project under the direct supervision of Infosys technology head Navin Budhiraja.
“When we go for recruitment, there is certain but a small section of talent whom we are not able to attract. Now, we are going to premier institutes like IIT, IIM and other top management schools with Expert Track,” U.B. Pravin Rao, Chief Operating Officer, Infosys, told The Hindu .
Infosys, which launched this programme early this year, has already made offers to around 20 people. The company has offered a salary package at par with those offered by start-ups and big tech companies.
“We are offering them significantly higher compensation as against our traditional campus hires. The major reason for this is that they work on more complex and specific identified projects,” added Mr. Rao.
According to sources, a well-funded start-up will offer around Rs. 15-17 lakh as annual pay package for a fresh hire from IIT or IIM. Apart from the hefty pay many new-age employers also provide stock options for employees.
Before taking the initiative outside its campus, Infosys opened the same test and interview methods for its existing employees and around 25 people were selected from the internal pool.
Infosys, which employs around 1,87,976 people as on September 30, 2015, said it will hire around 20,000 people from campus this year. Infosys offers an annual salary package of Rs. 3.25 lakh for fresh campus hire and Rs. 10,000 for interns.