Bangaluru-based, IT Major, Wipro has announced its fourth-quarter results for the financial year 2022 on April 29. The company’s revenue increased 2.7% sequentially to Rs 20,860 crore in the quarter ended March, according to its exchange filing.
Its consolidated net profit for the quarter ended March 2022 came in at Rs 3,087.3 crore, up 3.87 per cent from Rs 2,972.3 crore posted in the same quarter last year.
Wipro is planning to hire nearly 38,000 freshers in FY23. This hiring is double of 19,000 freshers that the company has hired in the previous fiscal year.
The company has also added 45,416 employees for the year ended March 31, 2022, and the total headcount stood at 2,43,128 employees. The addition was very high from the FY21 which added 14,826 employees.
The IT major will also increase the frequency of the promotion cycle for 70% of employees in junior bands on a quarterly basis.
Wipro’s Global Chief Human Resources Officer, Saurabh Govil said, “the pressure continues as demand is robust. He also said that they are charting out a career path for the next five years for the fresh joiners.”
Govil added, “As we onboard large numbers of freshers, we have given them a clear career path, both from a compensation and career standpoint for the next five years,”
The attrition worries all the major IT companies as it has been very high than that of the past couple of years due to a huge demand for technology services.
Wipro’s attrition stood at 23.8 percent in Q4 FY22 from 15.5 percent at the beginning of the fiscal year.
To manage attrition, the company has also shifted to quarterly promotion cycles for its junior employees. The demand for talent soared amid the shift to digital and attrition spikes.
Speaking about return-to-office plans, Thierry Delaporte, CEO and MD, Wipro said that they want the model to be hybrid and that they encourage people to come to the office.
He future added, “But we also recognize the fact that if they prefer to work from home, they can.”
