Bengaluru-based infotech major, Wipro is rolling out salary hikes and promotions to control and limit rising attrition.
The top performers may get a salary hike of over 15 percent, however, most of the employees will get a pay hike of 10%.
India’s fourth-largest software firm, Wipro will be announcing promotions quarterly from this month up to the mid-management level. Salary hikes will take place from September.
Wipro CEO Thierry Delaporte in Q4 results said, “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.”
As India’s technology (IT) sector continues to see Covid-19 changes and increased demand forcing companies across sectors to digitize businesses. The jobs in the market for tech workers have risen significantly during and post-pandemic causing a rise in attrition.
Wipro reported attrition of 23.8 percent in the March quarter and the company is slated to announce results for the first fiscal quarter on July 19, while its peer Tata Consultancy Services (TCS), reported an attrition level of 19.7 percent for the quarter ended June in FY23.
