Infosys, the Indian IT major, is planning to extend the Employee Stock Options Programme (ESOP) to a larger number of employees, including those in the lower levels of the hierarchy. It will now reach a couple of levels above the entry-level employees, as per media reports.
This move is aimed at retaining some of the Company’s key talents. In the year 2019, it had expanded the ESOP as part of its attempts to incentivise and attract key talent in the company.
In a filing in May 2019, Infosys said the purpose of the ESOP plan was to increase shareholder value by expanding employee ownership in order to incentivise, retain and attract key talent through this performance-based stock grant programme.
Many companies in the tech sector, such as Wipro, TCS and HCL are extending several benefits to retain their good performers.
Amidst the difficult situations posed last year, and the uncertainty caused by the pandemic across sectors, worldwide, Infosys had decided to hold the increments of its employees for last year.
In January 2021, Infosys already paid the pending increments to its staff for last year. The Company is now undertaking the performance review cycle to push out its increment plan for this year.
Infosys also has a digital skills tag programme under which it rewards employees who acquire certain skills which are essential for the Company.