(FE)
An interesting solution to address a lingering problem- Infosys, the second biggest IT company in India, is offering monetary compensation to its employees for helping in interviewing candidates during lateral hiring. The company is offering Rs 700 per interview to its senior employees to conduct interviews.
At Infosys, senior executives such as project managers, track leads, and architects at Job Level 5 and 6 are often engaged in the hiring process for the technical roles. They often conduct 2 or 3 rounds of interviews with the applicants before moving them to the HR round. These professionals, who take part in interviewing the applicants, are eligible for cash incentives from the company.
The company has also outlined that the Human Resources and talent acquisition team employees are not eligible for the incentive. Similarly, contractors are not eligible for an incentive. Additionally, the people in the senior leadership roles are also not eligible.
If an interview gets canceled or the candidate does not turn up, the interviewer will not be eligible for the reward.
Why is Infosys offering cash incentives?
India’s Information Technology industry, which is worth about $280 billion, is experiencing a shortage of skilled professionals. The IT industry is particularly seeing a shortage of skilled young professionals for digital transformation and Artificial Intelligence. Lately, the IT companies have been moving away from traditional mass recruitment from colleges and increasingly focusing on lateral hiring.
Infosys’ announcement of a cash reward for lateral interviews is aimed at enhancing the involvement of senior employees in the recruitment process and speeding up lateral hiring.
Furthermore, there were concerns about the low increments and bonuses among Infosys’ employees. In FY24, Infosys’ employees got a 5 to 8 percent salary increment, while the March Quarter bonus was also low. The new policy of cash rewards for interviews would boost the earnings as well as the morale of the employees.
For an average of 10 to 15 interviews per day, the employees can earn Rs 7000 to Rs 10000 daily.
