Looking within: Infosys turns to employees for new ideas to be scaled up as business offerings
Subscribe to enjoy similar stories. In a first, Infosys Ltd has asked employees to think out of the box and come up with new ideas that can be scaled up and offered to clients as part of a business incubator programme. A core objective of the ‘Be The Next Business Incubator’ programme, which is open to all employees across job levels, locations and subsidiaries, is to generate new revenue streams and growth opportunities for the Bengaluru-based company, according to an internal mail sent by Infosys to its employees on 26 December, which Mint reviewed.
Apart from trying to boost additional business from clients, the move appears to be a way for the country’s second-largest information technology services company to retain talent by giving employees jaded with monotonous work a chance to explore and work on new technologies. The company added 2,456 employees for a total of 317,788 at the end of September. The attrition rate rose to 12.9% compared with 12.7% in the preceding June quarter.
“Participating in Incubator is a full-time role. So, the employee will need to move out of his/her current role," the company said in the guidelines for the programme. “The incubator will consider ideas for platforms and service lines.
The ideas need to be digital in nature, unique from existing offerings, and should align with Infosys model and business strategy." Employees can pitch ideas in teams of three to the Incubator council, which includes leaders across various domains in the company. The number of people working for an idea can be increased as per the business plan. Infosys, which ended FY24 with $18.6 billion in revenue, will fund the software, hardware, travel, and marketing and even provide space for the ideas pitched.
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