Infosys Ltd has, for the first time, linked the variable pay of six of its top executives to how much revenue the company generates from digital technologies.
Beginning this financial year, the incentives of six top Infosys employees — chief operating officer UB Pravin Rao, chief financial officer MD Ranganath, general counsel Inderpreet Sawhney, head of banking and financial services Mohit Joshi, deputy chief operating officer S Ravi Kumar and head of human resources Krishnamurthy Shankar — will be based on digital revenue growth, in addition to overall revenue and profitability, Infosys said in a filing to the US Securities and Exchange Commission.
The move is perhaps a first by a large Indian IT company and signals that new CEO Salil Parekh is trying to make his top executives push harder to sell the digital business, the business daily reported.
Infosys’ digital business grew 27 percent annually to $803 million at the end of the June quarter. Digital revenue accounted for 28.4 percent of the company’s $2.83 billion revenue in the June quarter.
Smaller rival Wipro is not thinking of a similar exercise as it feels it may be too soon to link key managerial personnel’s performance to a new revenue stream like digital, the business daily further reported.