India’s leading IT firm, Wipro plans to double campus hiring to meet the present talent demand. While the company has witnessed growth in recent months, it is also struggling to retain talent. Recently, in an effort to curb attrition at the junior level, Wipro increased the annual salary of freshers.
According to Wipro’s chief Human Resources executive, Saurabh Govil, the company plans to bounce back in its hiring efforts this year. During its heydays, the company used to hire 20,000 fresh graduates from campuses each year. Wipro’s HR Head is confident about bringing back those hiring numbers once again.
Wipro has a significantly higher rate of attrition of more than 17% for the past three quarters. The company aims to bring it down to 14 to 15% in the next few quarters.
The company is following innovative practices to curb the rate of attrition. Wipro had announced one-time bonus to junior employees in December 2018. The one-time bonus will be offered to employees with less than five years of experience, who have continued working with the company after campus recruitment.
The tech company has also restructured the salary packages for entry level job offers by giving higher salary packages of Rs 6 lakh and above. Wipro follows a tiered hiring model for fresh graduates.
Wipro has segmented its employees in three major categories. The first category of employees are offered a salary package of Rs 3.5 lakh per annum. The mid-tier employees get Rs 6 to Rs 6.5 lakh per annum, and up to Rs 20 lakh per annum for graduates from premium technical institutes like Indian Institutes of Technology (IITs).
Wipro Q3 profits has risen 32% Y-o-Y as revealed in the December quarter analysis. The revenue from operations has also spiked to Rs 12,138 crore during the December quarter of current fiscal year.Source - Techgig