Wipro’s new Rewards & Benefits programs to retain its employees

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Wipro's new Rewards & Benefits programs to retain its employees
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, Wipro CHRO said.

Recently in an Interview with SightsIn Plus, Saurabh Govil, President and CHRO, Wipro Ltd said that Attrition has always been a concern for the industry however now we are witnessing an unprecedented war for talent.

He added, “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 the retention of talented employees through multiple levers such as competitive compensation, contemporary benefits, career growth, and superior talent management methodologies,” Govil 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. 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 said.

Govil said, “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. 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,”

“We recognized early during the pandemic that employee benefits centered around employee care, mental health, and having a more enhanced R&R will be key to meeting employee needs. Along with our primary focus in extending consistent support to employees and their families to get through the challenging times of COVID, we launched many initiatives to boost recognition” he said

Govil further said, “We recently launched a reimagined R&R program with an intuitive user-friendly app. This new program looks at improved peer-to-peer recognition, rewarding champions who demonstrate Wipro values, more options for employees to encash rewards, increased reward value for long service awardees, enhanced user experience for all, and much more,”

New Rewards and Employee Benefits Programs

Responding on new rewards and employee benefits programs, Saurabh Govil, President and CHRO, Wipro Ltd said, “We introduced a best-in-class employee assistance program with a mobile-friendly app to ensure the emotional and mental well-being of employees & their family members through access to theme-based webinars, articles, expert coaches, clinical counselling, and much more,”

“In addition to the above, leaves under COVID Leave policy, Bereavement Leave for employees, Extended paternity leave, Break-from-work policy have been introduced to provide employees with necessary breaks,” he added.

Govil further said, “Medical & financial assistance has been ensured through reimbursement against vaccination, COVID coverage under insurance scheme, interest-free contingency loan as well as COVID financial assistance, adoption assistance policy that provides financial assistance to families adopting a child, reimbursement of Medi-claims for same-sex partners, disability aids and much more,”

“From introducing new benefits policies, R&R programs, Employee assistance, incentives, to responding to COVID effectively through on-the-ground activities, we are consistently doing all we can to ensure our employees remain satisfied, productive, and positive,” Govil further said.

Wipro Ltd will be rolling out a second salary hike of the year for its employees from 1 September 2021, as announced earlier. 

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