Infosys is set to begin a new appraisal cycle for the current fiscal year, as employees await raises from the previous performance cycle. The company will begin self-evaluation on September 29 and evaluate by October end, with individual employee ratings communicated in the first week of December. The evaluation period for performance review is between October 2022 and September 2023.

The report reveals that Infosys employees are still waiting for salary hikes for the previous appraisal cycle (October 2021 to September 2022). The report also lacks clarity on whether these hikes will be included in the upcoming cycle or skipped altogether. Employees are requesting updates on their self-evaluation and accomplishments. Last year, the appraisal process occurred and ratings were disclosed, but the hike (salary revision) has not been released yet. The typical evaluation period is October to September, with hikes usually paid in June or July.

What management had to say about appraisals

Infosys, a leading Indian IT company, is considering annual hikes for its fiscal second-quarter results. The company reported a 11% increase in net profit and a 10% rise in revenue in the first quarter, but missed analyst estimates. The company also lowered its revenue growth outlook due to spending cuts and client decision-making delays. Infosys had predicted a 1.0-3.5% revenue growth for the fiscal year, the slowest expansion in at least a decade. However, the company has been leading in winning mega deals, with four in the $450 million to $2 billion range over the last four months, which may prompt an upgrade in the annual guidance.