Wipro To Provide Quarterly Promotions for Top Performers, Salary Hikes Amid High Attrition

New Delhi: With an aim to fight the rising attrition rate, IT giant Wipro Ltd has decided to overhaul its employee bonuses and increments. According to a Livemint report, the company is also mulling to invite fresh talent. Notably, this is the first time that the company has taken such steps to rein in high attrition and attract younger talent in India. The demand for tech workers has risen significantly with the pandemic forcing companies across sectors to digitise businesses.Also Read – Gold And Silver Prices Continue To Rise, Gold Breaches 52 Thousand Rupees Mark

Wipro eyes to provide a salary hike of 10 per cent to most of its workforce in September, with the company’s top performers getting a salary hike of over 15 per cent. Also Read – Hub of Talent: After Infosys, TCS Plans to Set Up Base in These Non-Metro Cities. Deets Inside

“Wipro is expected to roll out the hikes in September, and there are large-scale promotions to be rolled out in July. The company has decided to offer quarterly promotions to top performers, who are not in the leadership team,” said a company executive aware of the development in an interview with Livemint. Also Read – After Anand Mahindra And Kiran Mazumdar-Shaw, Tata Sons Chairman N Chandrasekaran Backs Agnipath Scheme

The company has also confirmed that it has plans to roll out of several promotions for employees beginning July.

Wipro recorded attrition of 23.8 per cent in the March quarter and the company is slated to announce results for the first fiscal quarter on July 19.

“As long as the market is hot, with high demand, there’s going to be high attrition. The day it (demand) slows down the attrition will slow down. What I said two quarters ago is that attrition is here to stay. I still believe that it will continue to be a challenge for us going forward,” Wipro CEO Thierry Delaporte had told Moneycontrol after its Q4 results.