India’s second-largest IT company, Infosys, has rolled out a plan to relocate its employees from the congested cities of Bangalore and Mumbai to a Tier-2 city in Karnataka, Hubballi, where it has already acquired 58 acres of land. Employees received an email from the company that stated the benefits of relocation to the newly developed Hubballi office and that the company was “waiting for a talent like you to build the future. It’s your turn to grow global and consider pursuing your career at Hubballi DC.”
Incentives provided by the company for relocation
Employees above Band 2 are eligible to claim the benefits. Employees below level 3 will get INR 25,000 when they relocate and INR 25,000 in every six months for the next two years. Level 4 will receive INR 2.5 Lakh, INR 5 lakh for level 5, INR 6 lakh for level 6 and level 7 shall receive INR 8 lakh, including the relocation allowance after 2 years.
| Band | At time of transfer (INR) | At end of 24 months(INR) |
| Three & Below | 25,000 | 1.25 lakh |
| Four | 50,000 | 2.5 lakh |
| Five | 1 lakh | 5 lakh |
| Six | 1 lakh | 6 lakh |
| Seven | 1.5 lakh | 8 lakh |
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Why the hassle?
The company has various reasons to shift its workforce to the Karnataka office of Hubballi. It provides a better alternative for Mumbai-Karnataka employees, allowing them to explore job opportunities in their home region along with a lower cost of living when compared to Tier-1 cities.
Relocation would also help in using the existing modern workspaces efficiently, as the initiative can help them reduce burden and save costs as there has been a growing need to de-congest Bangalore for some time.
Benefits to of relocating to Hubballi
The 58-acre premise of Infosys will have a huge impact on the future of the city, as it is expected to see significant growth in business and opportunities. The new office will create a positive outlook towards the regional economies and kick-start local growth. It will also help Karnataka youth stay close to their homes while they search for job opportunities.
About the Author
Akshat Jain is a post graduation student of Economics. He is interested in economics, literature, cinema and automobiles. During his spare time, he likes to listen to music, read or play chess.
