What is Infosys’ ₹700 Cash Rewards Scheme to Supercharge Hiring Within the IT Industry?

Infosys, India's second-largest IT services company, has unveiled a groundbreaking cash reward program for its employees. For the first time, the Bengaluru-based tech giant will offer ₹700 for every interview an employee conducts as part of the company's lateral hiring efforts.

This new initiative, effective retrospectively from January 1, 2025, marks a significant shift in Infosys's talent acquisition strategy, aiming to boost employee engagement and accelerate the recruitment of experienced professionals in a competitive market.

At 11:25 AM, Infosys share price was up 0.70% and was trading at ₹1,574.80.

How Infosys’ Cash Rewards Scheme Works

• Target Employees:The scheme is designed for technical professionals at job levels 5 and 6, which includes roles like project managers, track leads, and architects.
• Purpose: These employees conduct multiple rounds of interviews to assess candidates, particularly in high-demand areas such as Python, Java, Machine Learning, DevOps, cloud, and cybersecurity.
• Reward Structure:
• Eligible employees receive 700 points (equivalent to ₹700) for each valid interview they conduct.
• Rewards are given only for interviews where the candidate appears and the interview is completed. No reward is given for cancelled interviews or no-shows.
• Scope: The program applies exclusively to recruitment within India.
• Exclusions: The scheme does not include HR personnel, talent acquisition staff, contractors, or senior leadership.
• Earning Potential: Employees heavily involved in recruitment drives, especially on weekends, could potentially earn an additional ₹7,000 to ₹10,000 per day by conducting 10-15 interviews.

How Will Infosys’ Cash Rewards Scheme Address Its Challenges?

The Infosys’ cash rewards scheme comes at a crucial time for India's ₹280 billion software services sector, which is currently facing a shortage of skilled professionals, especially in emerging technologies like AI and digital transformation.

The initiative also aims to address concerns about employee morale. Many Infosys staff received only modest salary increases and reduced performance bonuses in the last fiscal year. This new scheme is seen as a direct acknowledgement of employees' extra effort in building strong teams and is expected to motivate mid-level leaders and managers to participate more actively in the hiring process.

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Conclusion

While some companies offer a mix of cash and non-cash incentives, Infosys's direct cash payout is a unique approach for the company and uncommon in the industry. By encouraging more experienced staff to participate in interviews, Infosys aims to speed up its hiring process, improve the quality of new hires, and deepen employee involvement in talent acquisition.

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