Infosys Technologies has recruited 4,618 employees in 2002-03 taking its total staff strength to 15,356. It has also reported a 9.2 per cent rise in its human resource value.

Infosys' human resource was valued at Rs 10,417.03 crore (Rs 104.17 billion) in March 2003 against Rs 9,539.15 crore (Rs 95.39 billion) in the previous year. Its employee strength by March end 2002 was 10,738.

The company's software delivery team with 14,001 employees was valued at Rs 9717.98 crore (Rs 97.18 billion) in March 2003 against Rs 8,662.99 crore (Rs 86.63 billion) in the previous corresponding period. Bulk of its new appointment were to the software delivery team which was around 4,596 in 2003.

The support and technical team including trainees, employees in research and development activities and support personnel was around 224 in size and its value dipped to Rs 89.19 crore (Rs 891.9 million) in March 2003 against Rs 155.67 crore (Rs 1.56 billion) in the previous year.

The company reduced the number of employees under this section, which stood at 319 in the previous year.

Ratios like total software revenue to human resources value stood at 0.35 against 0.27 in the previous period, while the ratio of value-added to human resources value was calculated at 0.29 against 0.23.

Infosys' value of human resources per employee by the end of the last fiscal stands at 0.68 (0.89) and the percentage of employee cost to human resources value was 16.10 per cent (11.72 per cent). Return on human resources value as a percentage stood at 9.20 (8.47).

The software major was of the view that the definition of wealth as a source of income inevitably led to recognition of human capital as one of the several forms of wealth such as money, securities and physical capital.

It has used the Lev & Schwartz model to compute the value of human resources. The evaluation was based on the present value of the future earnings of employees and on assumptions that employee compensation included all direct and indirect benefits earned both in India and abroad.