In the first quarter ended June, Wipro paid a retention bonus of ₹1 lakh to freshers
The move was aimed at checking attrition as the IT industry has seen a higher number of junior staffers leaving in the past quarters
Bengaluru: Wipro Ltd plans to promote around 5,000 employees in the coming quarters to check attrition and make the company future-ready, Business Standard reported on Monday. For the quarter ended September, the Bengaluru-based company’s attrition rate stood at 17%, 60 basis points lower than in the previous quarter.
“Attrition (rate) has been a good story for us as compared to others. We have given salary hikes and now are looking at a huge number of promotions in the coming quarter. Around 5,000 people in the experience range of five to eight years will get promoted," Saurabh Govil, HR head, Wipro said.
In the first quarter ended June, Wipro paid a retention bonus of ₹1 lakh to freshers, who were hired via campus placement and completed one year. Those who had an experience of up to three years in the firm, since the time of their campus placements, were also given bonuses.
The move was aimed at checking attrition as the IT industry has seen a higher number of junior staffers leaving their employers in the past quarters. “Junior-level attrition is slightly higher than the company average. However, it is lower among performers as they get higher bonuses, incentives and salary hikes," said Govil.
According to the news report, in the next phase of promotion at Wipro, employees at L1 level would go to L2 and L2 staff would be promoted to L3. IT firms categorise staffers into various levels starting from L1 (junior most level) onwards.
“We want to be (stay) prepared. That's the reason we are building up a huge cadre and are preparing for the demand through training and re-skilling our people well. These initiatives should reflect on our revenue in the next two-three quarters," Govil said. He also said the IT firm was reducing its dependence on sub-contractors by building up an employee pyramid on key onsite locations. According to the company, around 68% of its employees in the US are locals.
Govil said, apart from scaling up its delivery capabilities, Wipro is eyeing more consulting-led sales growth in coming quarters and hiring more consultants to improve its cross-selling opportunities. “We are hiring more people in this consulting space. Today, it's (one of our) big investment areas and it is paying us back well."