Wipro to roll out salary hikes, promotions, and skill-based bonuses
IT major Wipro on April 15 announced its Q4 (a quarter ending on March 31) results which are its best fourth-quarter results in last ten years.
The company is looking at multiple measures to retain employees as the demand for niche talents increases which include rolling out promotions across bands, skill-based bonuses and salary hikes for senior employees in June this year, CEO Thierry Delaporte said.
Attrition and talent war are clearly one of the key challenges facing IT firms that are looking at double-digit growth in FY22. To attract and retain talent all Indian IT firms are looking at multiple interventions, Thierry said.
He further added, Wipro is fully prepared to win and looks to be the ‘leader’ in the war for talent.
Wipro’s HR Head, Saurabh Govil said to media, “we gave salary hikes to 80 percent of employees in January 2021. We are doing skill-based differentiated bonuses as we speak. We are going to give salary hikes for senior employees starting June. We are doing promotions for all employees.”
The bonuses will be given to employees who possess niche skills in new-age technologies such as cybersecurity, and cloud and also key domain skills. “These bonuses are for differentiated skills and hence targeted,” Govil added.
The company added 18,000 employees in the fourth quarter, and he said that robust hiring will continue in FY22. “We have robust hiring plans for freshers and lateral hiring. We have hired about 3,000 freshers in Q4, with a gross hiring of 18,000 people. We will be more aggressive on hiring plans given the demand,” Govil said.
Wipro registered $2.15 billion in revenue for the quarter ending March 31, 2021, up 3.9 percent quarter-on-quarter. The company closed 12 large deals resulting in a total contract value of $1.4 billion in the quarter.
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