It's been a little over two months since former SAP executive Vishal Sikka took over the reins of Infosys , becoming the first chief executive of the Bangalore-based outsourcing giant to have not come from one of its co-founders.
Sikka's appointment was hailed by analysts as a clever move -- as it was thought to infuse some much-needed fresh thought into the environment at Infosys after the company had started seriously lagging peer TCS on both revenue growth and profitability over the past several years.
So as the new CEO looks to present his first quarterly earnings on Friday where he is also expected to shed light on the strategy he has in mind in his bid to turn around the company, we look at some of the key initiatives he has undertaken so far.
For long, Infosys' falling behind in the IT services race was attributed mainly to its conservative, risk-averse nature of doing business: the company was often said to insist on doing higher-margin deals and stayed away from taking a more dynamic approach to pricing, even as clients (especially in the key financial sector based in developed countries) cut back on their IT spending in the wake of the global crisis.
This dented the company's growth prospects, which had a cascading effect on employee morale and sparked a staff exodus at all levels: top and bottom. In the most recent quarter, attrition reached 19.5 percent, the highest in the industry.
Since taking over, Sikka's utmost priority has been to rein in attrition. Soon after taking over, Sikka promoted as many as 5,000 employees , spent time with trainees, gave two- or three-fold pay hikes to several employees having salaries of above Rs 1 crore per annum and focused on urging leaving employees to consider staying back.
The CEO also launched a survey reaching out to every employee in the company with a survey designed to solicit feedback on how the company could improve on various operational parameters.
"If something is limiting us, if something is not as great as we know it can be, it can't be wished away. It must be fixed. And fixing begins with identifying and acknowledging that which must be changed. Then rolling up our sleeves and making the change happen. That's what I invite you to do," Sikka wrote to employees in an email that was seen by the Financial Express .
He also launched a program that would impart training to employees and said he would help employees develop skills in "design-thinking" , in which special emphasis is laid on improving consumer focus and ergonomics.
Sikka's efforts have not just been in the area of improving operational efficiency. He also launched a successful campaign called Murmuration in which he asked employees to contribute ideas towards how the company could take its business to the next levels.
After receiving and evaluating as many as about 2,700 entries, the company has started working on 70 such ideas.
Sikka also reached out to and encouraged employees to start using social media platforms such as Facebook and Twitter to express themselves, as long as they were focusing on doing core jobs. This was something that was frowned upon in the company's erstwhile conservative culture.
Soon after taking charge, the CEO has promised to not make drastic changes in business strategy but improving things at the margins while adding vital innovation inputs.
This has become clear from incremental decisions that have been reported to be coming out. The latest, according to the Times of India , is a decision to double down investments in Finacle, Infosys' core banking solution, and bring it on par with the likes of rival's TCS's products by including allied services in it such as insurance.
Under the previous management, the company was reportedly mulling selling off the business or cutting down its workforce because, according to one report , the thinking was "start-ups in Silicon Valley make a billion dollars with 100 people" and so there was no need to have "5,000 people in Finacle for USD 300 million revenues."
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