Infosys Embraces Flexibility in Post-Pandemic Work Culture as TCS Urges Return to Office
In a stark contrast to TCS’s call for employees to return to the office, Infosys, the global IT giant, has declared its commitment to maintaining a flexible work-from-home policy. During a recent Q2 earnings press conference, Infosys CEO Salil Parekh reaffirmed the company’s unwavering dedication to employee flexibility, ensuring that this approach will persist.
Parekh also noted that many employees are voluntarily returning to campuses, with approximately 70% of its workforce present on-site at any given time. The numbers of employees returning to the office continue to rise weekly, reflecting a growing preference for in-person collaboration.
While emphasizing flexibility, Parekh acknowledged specific client needs and engagements that require employees to work collectively on-site. In these cases, Infosys employees are readily back in the office, ensuring client-centricity and efficient collaboration.
In contrast, TCS, another prominent Indian tech major, has announced its intention to reintegrate its employees into office spaces to foster a sense of collective learning and collaboration. TCS is revisiting its 25/25 policy, which aimed to have only 25% of employees in the office, reinforcing the value of in-person work experiences.
Both Infosys and TCS have experienced a sequential reduction in their employee counts. Infosys has seen a decrease of 7,500 employees, with its workforce standing at 328,764 as of September’s end. Infosys is committed to honoring all offers extended to new employees, but it is expected to forgo campus hiring this year.
Infosys’ CFO, Nilanjan Roy, explained that the company is shifting away from hiring ahead of demand due to changing market conditions. In line with its margin improvement initiative, Infosys is focusing on optimizing its utilization levels.
As a part of its commitment to its workforce, Infosys has already announced wage hikes, which will be implemented starting from November 1. While specific variable pay details were not disclosed, Infosys assures that these changes will align with its regular compensation patterns.
The company’s attrition rate has also seen a decrease, dropping from 17.3% in the previous quarter to 14.6%, indicating a more stable and satisfied workforce.