Infosys CEO Salil Parekh: Infosys recently reported a bigger-than-expected increase in the second-quarter profit, boosted by strong margin growth. The company’s consolidated net profit rose about 11% to Rs 6,020 crore ($729 million) year-over-year in the quarter that ended September 30.
Beating analysts’ estimate of Rs 5,780 crore, according to Refinitiv data. During the earning call Infosys CEO Salil Parekh also spoke about the company’s stance on moonlighting. Here’s all that he said
Does not support dual employment
Infosys CEO Salil Parekh said that the company did not support dual employment, reiterating the company’s stance on the practice of employees moonlighting, or working on gigs that could be in conflict with their work at Infosys. He reiterated the company’s stance on the practice of employees moonlighting, or working on gigs that could be in conflict with their work at Infosys.
Sacked employees for moonlighting
Parikh said that over the last year, the company has let go of its employees found working with other companies. “If we have found employees doing work in two different companies, where there are confidentiality issues, we have let them go in the last 12 months,” CEO Salil Parekh said. He did not mention a figure.
Planning a policy on moonlighting
Parikh, however, said that Infosys is planning to bring in a policy that allows employees to work on other projects within and outside of Infosys. Infosys is planning to introduce a policy for allowing employees to take up external gigs, Parekh added. He added that the company was developing more comprehensive policies for that while ensuring contractual and confidentiality commitments were fully respected.
Infosys has Accelerate platform
Parekh said Infosys has set up a platform called Accelerate where employees can look at internal gig work and projects outside their main area of work. “We’ve set up over the last several years, not now not last week.
Over the last several years, a platform which we call Accelerate to which employees can look at what we call internally gig work and different projects outside of the main work,” said Parekh.
He said on average over 4,000 people apply for this each quarter, with about 600 being selected to work on another project that was active within the company. “We support the aspirations of our employees to learn beyond their work. We will support them to work on certain big projects after the prior approval of the managers,” said Parekh.