Infosys Appraisals 2023: The IT giant Infosys is gearing up to commence a new evaluation cycle for the current fiscal year, while employees are still awaiting increments from the previous appraisal cycle, as reported by four employees to Economic Times. The IT giant Infosys to start 2023 appraisal cycle whereas employees are still waiting for previous pending hikes of 2022.
However, two employees told the daily that although a new appraisal cycle is about to begin, they have not received any increments since the previous appraisal cycle, which was from October 2021 to September 2022.
They also mentioned that the company has not provided clarity on whether the pending increment amount from the previous cycle will be added to the upcoming increment or left out.
“We need to update our self-appraisals and achievements soon… Appraisal processes were conducted last year, and ratings were disclosed. However, the increment (salary adjustment) has not been issued yet, which usually happens in June or July,” one employee informed ET. Employees usually receive increment payouts during the review period in June or July of the relevant year.
Another employee at Infosys stated, “The last increment payout was in July 2022. We have received ratings for the previous period (October 2021-September 2022), but there has been no salary increment.”
Additionally, the report also mentioned that Infosys, recently on September 26, announced a partnership with Microsoft to enhance enterprise operations across various industries with AI-enabled solutions. The domestic IT firm stated that both organizations would consolidate their respective artificial intelligence (AI) capabilities – Infosys Cortex, Azure AI Services, and Azure Cognitive Services – to bring together expertise and productivity improvements among businesses.
Prior to this, Infosys had also announced an expansion of its strategic partnership with American chip manufacturer NVIDIA. As part of the partnership, NVIDIA will offer Infosys its AI models, tools, applications, and computing infrastructure, training more than 50,000 of its 336,000 employees through its Center of Excellence (CoE). Furthermore, the company is also prepared to offer custom enterprise large language models (LLMs) using NVIDIA’s ‘NEMO’ LLM framework, based on NVIDIA’s ‘Reva’ generative AI platform, for translational use cases. These capabilities will also be available to Infosys clients through its ‘Cortex’ platform, in addition to the existing offerings on the NVIDIA AI platform.
Meanwhile, the company, which had recorded an annual revenue growth rate of 15.4 percent during the financial year 2013, reduced its revenue guidance for the first quarter of its financial year 2014 by 1-3.5 percent during the earnings call of its first quarter, marking the lowest in recent years. Source: LiveMint
