Infosys, a leading Indian multinational technology firm, has increased the number of employees who are eligible for its stock option programs. The entity has announced that it will be extending its employee stock ownership plan (ESOP) to nearly 8,000 employees.
According to a statement by Krish Shankar, Executive Vice President and the Group Head of Human Resources at Infosys, the tech giant has also expanded the net wider by including employees from four to five grades lower than the top leadership.
A considerable part of the share plan is linked to the performance and comprises of a larger pool of employees, Mr. Shankar added. He also pointed out that the plan has also helped lower the attrition rate.
Reportedly, the entire ESOP scheme has been reintroduced based on the performance of the firm. These ESOPs are directly linked to the total shareholder return and are also gauged by the market.
In addition to above, the Bengaluru-headquartered company has converted the options to contain the stock units that are provided at face value and are also linked to the market price.
Speaking about the various aspects of the program, Mr. Krish Shankar mentioned that Infosys has identified 36 different digital skills. Employees will be allowed to enroll for these courses and given a skilled tag and skill bonus. This will help create an environment that provides employees various channels to reskill themselves.
Nearly 80% of the talent was generated from such efforts with most of the employees working on the digital business in the last two years belonging to a similar pool. The digital business of Infosys has risen by 40% and currently, nearly half of its revenue comes from the digital space.
It is also worth mentioning that Infosys is embracing a hybrid work model and will ask a limited number of employees to operate from office premises. Whereas, the entity will get the hybrid model rolling for employees who are working remotely from their respective hometowns by the end of 2021.