An Indian multinational corporation, Wipro to roll out salary hikes in the October-December quarter, an average increase is expected at 6%-8%.
According to Times of India, it is expected that the top performers at the organization will receive a salary hike in double-digit.
Earlier, Wipro had postponed the salary hike of its employees to the 3rd quarter, the salary hike given in September last year was postponed to the October-December quarter this year.
However, the technology company HCLTech has deferred salary hikes for their employees by one quarter.
Chief People Officer Ramachandran Sundararajan said, “Typically, this time of the year, we make our announcements on pay reviews.”
“Last couple of years the hiring that we have done and the compensation reviews that we have done, we have taken that into consideration and have taken a decision to defer our annual reviews by a quarter,” Ramachandran Sundararajan added.
Infosys has not yet implemented salary hikes. The company typically announces its salary revisions in June or July, which become effective from April.
TCS has rolled out an annual salary increase with effect from April 1st. The company has given a 12-15% raise for exceptional performers in the latest annual compensation review and also commenced the promotions cycle.
Milind Lakkad, Chief HR Officer, said, “We remain focused on developing, retaining, and rewarding the best talent in the industry, and enhancing their effectiveness by bringing them back to the office to foster our culture. Our Return to Office initiative is picking pace, with 55% of the workforce already in the office thrice a week.”
“We have given a 12-15% raise for exceptional performers in our latest annual compensation review, and also commenced the promotions cycle”, he added.
This delay in salary hikes indicates that the companies are facing difficulties in the current economic situation, with projects being scaled down or canceled.
Recently, Wipro Limited announced that it has inaugurated a new office in Jefferson City, Missouri, and will partner with the state’s Jobs for America’s Graduates (JAG) program to attract local talent.
The office will serve as a base for more than 500 employees and partner with Jobs for America’s Graduates, Missouri, to attract talent.
The 75,000-square-foot office is the main support center for some of Wipro’s biggest clients, specifically in the healthcare and government sectors.
The state-of-the-art office houses a healthcare solutions innovation lab, which focuses on building digital-first solutions for Medicaid and Medicare programs.
Leveraging artificial intelligence (AI), automation, and cloud technologies, these solutions aim to enhance user experience and increase the value delivered to citizens.
