Bengaluru: Infosys will reward 7,898 of its high-performing employees – from junior to mid-level managers – with shares as it looks to rein in rising attrition and attract talent in a highly competitive market place. The company will grant 1.85 million restricted stock units (RSUs) at par value which will be made on August 1 and vest over a period of four years. Infosys has brought back the option of offering employee stocks after a hiatus of five years after a recent board approval to offer around 1%, or 24 million, of its equity through the plan.
CEO Vishal Sikka has been granted million restricted stock units worth $2 million. The move comes at a time when the company reported its highest attrition in nearly five quarters. It is 15.8% for the latest quarter, up significantly from 12.6% in the January-March quarter. “We are not unduly concerned about the numbers because typically in the first quarter, we have higher exits due to people going for higher studies,” COO Pravin Rao said.
HR head Krish Shankar said attrition among high performers has come down to 11.2% from 13.2% sequentially, and noted that the company is attempting to bring this down further. In the latest quarter, Infosys added 3,006 people, taking the total headcount to 1,97,050.