India’s IT Major, Wipro has announced its five-year plan for freshers detailing their salary structure, including annual increments and bonuses for campus hires.
According to a Mint report, Saurabh Govil, Global HR Head of Wipro said in an Interview, “In terms of career and remuneration, we communicated a very clear five-year plan.”
“The company has explained how employees’ income will increase over five years in the offer letters’ message. The deferred bonus in addition to the impending raises is just one of the many guarantees being provided to them regarding what will transpire.” He added.
“We have released a five-year plan for freshers that includes information about their pay scale, annual raises, and incentives.” he further said.
Sourabh also said, “Over 15,000 people have been hired by Wipro so far in this year 2022. The variable compensation component was 100 percent for about 85 percent of its employees.”
Commenting on the moonlighting, he said, “We’re also attempting to identify moonlighters by cross-checking employee provident fund information and interacting with companies.”
Commenting on the onboarding of fresh candidates, Govil said, “Onboarding is in the onboarding process, we will honour all offers made so far.”
The company has reported an Attrition Rate of 23%, moderating slightly from 23.3% in the previous quarter.
Wipro added 605 new employees. As of September 30, 2022, Wipro’s headcount in IT services increased to 259,179 from 258,574 at the end of June. The company has reported an Attrition Rate of 23%, moderating slightly from 23.3% in the previous quarter.
TCS added 9,840 employees in the September quarter and the total headcount stood at 6,16,171. TCS hired 20,000 freshers in Q2, an increase of 33% over the previous quarter.
However, freshers hiring have slowed down. TCS hired 35,000 freshers in Q1FY23 which is down from 43,000 in Q1FY22.