Employees at IT major Infosys are set to receive their performance bonuses for the July to September quarter. The bonuses, to be credited in November, will be in the form of an 80% payout.
The performance bonus, however, is not for all employees. Additionally, the 80% payout is the average; an individual’s payout will be as per their performance and contributions in the relevant quarter (Q2FY24).
Who all will receive the payout?
According to an email sent by the Infosys HR team to the tech giant’s staffers, the bonuses are only for ‘eligible’ employees – people at position level 6 (PL6-manager) and below band (those below the manager category, barring entry-level staffers).
“Dear Infoscion, we were able to stay relevant and build a solid foundation for future market share expansions in Q2, despite the challenging environment. You play a pivotal role in the success of our organisation and we look forward to an optimistic quarter with you,” the email read.
The email further stated that unit managers will finalise the distribution of payouts for their respective units and inform those eligible, this week.
Infosys appraisal cycle
The Bengaluru-based company began its annual appraisal cycle in October. At the tech firm, appraisals begin in October each year, ending in September of the following financial year. Employees receive their ratings in January, followed by the release of the pay rise letter in June.