This is the first! Infosys introduced a cash prize policy for employees that help hiring; Employees to earn 700 rupees per interview

India’s second largest software company Infosys has launched a new initiative to provide cash prizes to senior staff members, which participate in the lateral recruitment interview, which aims to increase employees’ engagement.The IT firm in Bangalore has introduced this incentive scheme for the first time. Cash benefits are banned for recruitment within India. This initiative recognizes the contribution of employees in the interview process over a period when the IT industry is giving priority to lateral recruitment on the placement of the campus.A staff member indicated that the purpose of this initiative is to motivate the team managers and middle level leadership to get external talent and encourage employees to join with high-caliber candidates.The plan for each interview gives a prize of 700 points (Rs 700). According to sources talking to ET, staff members can claim awards for dating back by 1 January, as the program is being implemented with the retrospective impact.In the organization, technical professionals, including track leads, architects and project managers, conducted 2-3 rounds of interview with candidates selected by talent acquisition team for lateral recruitment before proceeding on HR platform regularly in job levels 5 and 6 (JL5 and JL6).Also read Infosys staff get bonus letters; Most employees get only 50% payment, some receive 70%Under the leadership of Salil Parekh, Infosys conducts recruitment sessions during the weekend, attracting many applicants. During these events, staff members can conduct 10–15 interviews daily, which can evaluate the proficiency of candidates in software technologies including Python, Java, Machine Learning, Devops and others. Monetary incentives serve to promote interview participation.The organization has not included HR personnel, talent acquisition employees, contractors and senior leadership posts from participating in the incentive scheme. The reward cannot be claimed for canceled interviews or when candidates fail to appear.The $ 280 billion software service industry especially faces a lack of skilled professionals in AI, while the global demand in primary markets and the increase in business conflicts deal with the challenges.The initiative was introduced to address concerns among employees who received a slight salary increase of 5–8% for FY24, in combination with low performance bonus for the March quarter.The employee said, “Earlier, we did not find any such cash encouragement for interview. In fact, the company gave us compensatory leaves for interviews conducted in the campus,” the employee said.Although this exercise is not widespread, many major and medium-sized technology organizations including honeywells, excent and Sonata software, providing monetary and non-monetary benefits to motivate the participation of employees in interview panels, ensure the recruitment of top industry talent.Also read Apple’s largest contract maker Foxconn has read 300 acres iPhone making campus in India with DEMM for 30,000 employees.