Infosys Work From Home: CEO Salil Parekh Says Flexible Approach Will Continue; Check Details

Hybrid System On Work From Home: Even as the IT companies have started calling their employees back to office, Infosys has said it will continue with its flexible approach. Its CEO Salil Parekh said the company has not mandated any fixed number days that the employees need to attend office physically.

Parekh said, “In our India offices, we have about 45,000 employees in the office at any given time, and this is huge given where we were a few months ago. We are finding that the approach taken so far has been well received.”

He added that over time, the company will make all the support necessary to employees, so that more and more employees can return to office. “There are of course several client situations that require specific action. Those will be followed as per clients’ requirements but wherever we are able to provide some flexibility, we will continue to provide flexibility.”

Infosys added 10,032 employees during the second quarter of FY23. This took Infosys’ headcount as of September 30, 2022, to 3,45,218. Last quarter, Infosys had a net employee addition of 21,171 employees.

The IT major’s voluntary attrition stood at 27.1 per cent in Q2FY23, compared with 28.4 per cent in the previous quarter. On a yearly basis, the attrition rate is high compared to the 20.1 per cent recorded in Q2FY22.

Infosys Chief Financial Officer Nilanjan Roy said, “Operating margins in Q2 expanded sequentially by 150 bps, helped by our operational rigor. While supply-side challenges are gradually abating as reflected in the reducing attrition rates, they continue to exert pressure on our cost structure.”

The company has posted a consolidated net profit of Rs 6,021 crore for the September 2022 quarter, a growth of 11.1 per cent as compared with Rs 5,421 crore in the year-ago quarter. The company’s revenue jumped 23.4 per cent to Rs 36,538 crore, against Rs 29,602 crore in the September 2021 quarter. Sequentially, Infosys’ net profit jumped 12.3 per cent as compared with Rs 5,360 crore in the June 2022 quarter.

Earlier, Infosys said it has a three-phased plan when it comes to working from home. In the first phase, the company is encouraging employees who are in their home locations where DCs (development centres) are located or are in the upcountry town close to the DCs to come to the office twice a week.

In the second phase, its Chief Financial Officer Nilanjan Roy earlier said the company will encourage people who are outside the DC towns to start making preparations over the next few months to see if they can come back to their base development centres. “In the long term, we are looking a the hybrid model on work, depending upon the clients, regulatory environment and a number of other considerations,” Roy had earlier said.

Read all the Latest Business News and Breaking News here