Infosys, India’s second-largest IT company, has unveiled a lucrative transfer policy to incentivise its employees to relocate to its Hubballi development centre in Karnataka, aiming to fortify operations in the tier-2 city.
The policy, targeting employees at band 2 and above who are handling project deliveries from any of the company's development centres in India, offers substantial financial incentives. In an email to employees, as reported by Economic Times, the company outlined the perks.
Employees at band 3 and below will receive an initial relocation allowance of Rs 25,000, followed by an additional Rs 25,000 every six months for two years.
This will culminate in a total of Rs 1.25 lakh after 24 months. Meanwhile, employees at higher bands (4 through 7) can receive up to Rs 8 lakh, inclusive of the initial relocation allowance, by the end of the same period.
This initiative wants to attract employees from the Mumbai-Karnataka region to explore opportunities in Hubballi. Additionally, the policy allows employees to continue working on their current projects from the city, thus optimising the use of the facility’s modern infrastructure and reducing operational costs.
MB Patil, Karnataka’s Minister for Commerce & Industries, Infrastructure, lauded the move in a tweet: “Hubballi Set for Growth: Infosys Spurs Local Growth with Incentives. I applaud Infosys for offering incentives to employees transferring to its Hubballi campus. This move encourages local talent from the Kittur Karnataka region to explore opportunities closer to home, fostering community ties and local development."
"Infosys' commitment to state-of-the-art campuses and employing thousands of engineers globally exemplifies its leadership and positive impact on regional economies. This initiative not only supports local growth but also showcases Infosys' dedication to innovation and employee welfare in the tech industry,” he continued.
This policy shift follows discussions in the Karnataka assembly earlier this year concerning the underutilization of Infosys’ Hubballi campus when BJP MLA Arvind Bellad highlighted that despite acquiring 58 acres in Hubli-Dharwad West for a promised world-class campus, the land was underused.
Infosys outlined its strategic intent to establish offices in several tier-2 cities, including Hubballi, Indore, Navi Mumbai, Nagpur, and Coimbatore in 2023.
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