1 min read.Updated: 15 Apr 2021, 09:03 PM IST Written By Anulekha Ray
Wipro is planning to roll out a wage hike in June
Wipro on Thursday reported 27.78% year-on-year increase in net profit to ₹2,972.3 crore for the quarter ended in March
Wipro on Thursday said that it is taking multiple measures — promotions, salary hikes and skill-based bonuses — to retain employees. The employees of Wipro, received a salary hike in January 2021. The Bengaluru-based Information Technology major is planning to roll out another wage hike in June for the remaining employees.
In October 2020, the company announced promotions for 80% of its employees effective December 2020. Speaking about the wage hike, Saurabh Govil, chief human resources officer at Wipro said, "In January, 80% of our employees got a salary hike. For junior employees, we did a promotion cycle in December and we are again doing it in June. Apart from that we are looking at skill-based bonuses and salary hike for senior employees."
During the quarter ended in March, the IT behemoth hired nearly 18,000 employees. The attrition rate increased to to 12.1% during the fourth quarter of FY21. The company is expecting a higher uptick in attrition on the back of a strong demand environment and the need for talents in niche areas, Govil said.
"However, supply chain will not be a constraint to growth. There is a high demand environment for people with right skills," he further added.
The total headcount of the company stood at 1.97 lakh at the end of March 31, 2021. Wipro made a net addition of 15,000 employees in FY21. Out of them, around 9,000 were freshers. "We recognise that we are competing for quality talent and we are fully prepared to lead the war for good talent. We are investing in building talent at scale, we have implemented several interventions to retain diverse talent. In parallel, measures are in place to ensure the supply chain does not slow down our pace of growth," Thierry Delaporte, chief executive officer and managing director, Wipro said.
Wipro on Thursday reported 27.78% year-on-year increase in net profit to ₹2,972.3 crore for the quarter ended in March. Its revenue from operations grew 3.4% year-on-year to ₹16,245.4 crore for the quarter under review. At the operating level, IT services' earnings before interest and tax (EBIT) stood at ₹3,417 crore and margin at 20.92 percent for Q4FY21.
We delivered a third consistent quarter of strong revenue growth, deal wins and operating margins. We also announced our largest ever acquisition of Capco that will bolster our global financial services sector," said CEO.