Information Tech

infosys ESOP: Infosys to expand, deepen ESOP pool to retain talent, says Salil Parekh


plans to expand its employee stock options to include a larger pool of employees as the company takes up multiple measures to retain people at a time the IT industry is witnessing a war for talent.

“We already have ESOP (employee stock option) programmes today, which go to a lower level within the company, not at the entry level, but a couple of levels above that. And that’s something which is a huge success for the company,” Salil Parekh, chief executive officer, Infosys, told ET in an interview last month

Liking this story?

Get one mail covering top tech news of the day in under 5 minutes!

Please wait…

“For a number of years, Infosys has always done ESOP. And we are looking at things along those lines, both expanding it and also deepening it to make sure that we do everything that we can in terms of supporting employees.”

In 2019, the company expanded the network. Infosys had then said the purpose of the programme to expand employee ownership of stock options was to incentivise and attract key talent.

“The purpose of this plan is to increase shareholder value, by expanding employee ownership of the company, in order to incentivise, retain and attract key talent through this performance-based stock grant programme,” Infosys had said in a filing in May 2019.

Infosys is among the earliest Indian IT firms to offer ESOPS helping several thousand employees generate wealth as the company grew as India’s second largest software exporter.

IT services companies such as Infosys, Wipro, Tata Consultancy Services, HCL Tech and others have introduced multiple benefits to retain employees as the industry is witnessing a higher demand for talent from the India-centric IT services companies and the technology development centres of global organisations.

Parekh pointed out that Infosys has put in place digital skill tags, which gives some specialized bonuses apart from rewarding employees through the ESOP plans across various levels.

Analysts said a higher demand for IT professionals is pushing companies such as Infosys to consider various measures.

“I think as a policy it is not different from that of global peers of Infosys. Given the higher demand, the crunch for digital skills is going to increase. Fight for quality talent will push a lot of companies to look at measures to retain and motivate employees,” said Apurva Prasad, IT analyst at HDFC Securities. The offer to joining ratio is at 30-40% for employees with strong digital skills, added Prasad.



Source : economictimes.indiatimes.com

ASu
I am tech enthusiast and a keen learner, Currently pursuing Bachelors in Computer Science from University of Delhi
https://technewz.org

Leave a Reply

Your email address will not be published. Required fields are marked *