Industry

How Wipro is dealing with Attrition challenges

Rising attrition in IT Industry is the biggest challenge that has come out due to exploding demand for digital talent. TCS, Infosys, Wipro, HCL Tech, Cognizant, and Capgemini, etc all the big IT service providers that are facing high numbers of voluntary exits.

Below companies have reported a sharp rise in Attrition in every subsequent quarter. According to Q2F22 results;

  • TCS – 11.9%
  • Infosys- 20.1%
  • Wipro- 20.5%
  • HCL – 15.7%
  • Cognizant- 33%

How is Wipro Managing Attrion?

Speaking with SightsIn Plus, Saurabh Govil, President & CHRO, Wipro said, “Attrition has always been a concern for the industry however now we are witnessing an unprecedented war for talent. We look at attrition at different levels. One level is the point at which attrition is happening and doing an intervention at that point. That is a reactive approach that has its own merits and is required. This includes doing an out-of-turn retention bonus, project change, etc.”

“However, our main focus is to boost retention of talented employees through multiple levers such as competitive compensation, contemporary benefits, career growth, and superior talent management methodologies” He added

Commenting on the solutions and HR Practices at Wirpo to deal with Attrition he said, “We are constantly reviewing and adapting our talent management processes in line with our strategic direction. We have made significant changes to our people processes this year to align with a performance-driven culture,”

“In terms of reward processes in the past 6 months, we ran a bonus cycle, MSI cycle for all our employees as well as a promotion cycle across all bands,” he said.

“We have revamped our recognition portal and also introduced a digital learning portal. Our enterprise-wide change initiative through IT system enhancements is also aimed to enhance employee experience,” Govil added.

Govil further said, “Our firm belief is that we need to make fundamental shifts according to emerging realities balancing organizational and employee considerations. These will yield long-term results and enable retention,”

He added, “At the same time we are also undertaking specific geo wise, practice wise, and skill-based initiatives to address issues before they arise,”

“Finally, last but not least is sustained employee engagement via managers and HR partners,” he said.

“Our philosophy is to make the right decisions in the interest of employees and ensure that our employees are equitably and competitively rewarded with good quality work and competitive rewards,” Govil said.

SightsIn Plus

SightsIn Plus is an India’s leading high-quality people-focused monthly HR Magazine and provides up-to-date HR News, Leadership Announcements, Best HR Practices and Insights by Global CHROs, CEOs, HR Advisors, Business Managers and HR Heads on topics of interest to HR professionals. To subscribe SightsIn Plus, HR Magazine please visit- https://sightsinplus.com/subscribe/

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