Wipro to roll out Promotions & Increments by December 2020 and will robust hiring for the second half of the financial year
According to a CNBC report, IT services Major Wipro is all set to roll out promotions and salary hikes starting from December 2020. It will include 80 per cent of the company’s 1.85 lakh employees.
Saurabh Govil, Wipro’s Chief HR said, “Our employees have shown remarkable resolve and resilience in ensuring seamless business continuity and maintaining high standards of service in these challenging times. Wipro will roll out promotions for high performers in bands up to B3 effective December 1, 2020. Bands up to B3 form about 80 percent of the company’s workforce.”
He said, “The company will also continue with robust hiring for the second half of the financial year, having hired 20,000 people during the last two quarters.”
“Hiring was robust in the first half of the year and will continue to be robust. We will hire more in US, Europe, as well as freshers across the globe,” Govil said. Wipro hired 13,000 in the second quarter and 7,000 in the quarter before that.
“Wipro would be doing employee interventions in the current fiscal. Promotions are eligible for 80 percent of the workforce, though it has not yet been decided on how many will be promoted. Increments will be at pre-Covid levels to high-performing employees,’ he added.
Wipro has also kept attrition low at 11 percent over trailing twelve months, while the gross utilization stood at 76.4 percent.
He also said that the company now has over 70 percent localisation in the United States and will not be significantly impacted by the H1B issue raging in the United States.
The Trump administration has published a new set of rules that will lead to a hike in wages for H1B visa holders and more stringent inspection and monitoring of employers.“We are still looking at the new H1B notification by US. We have 71 percent localization in the US, so we will not see a big impact,” Govil said.
These promotions indicate the company’s positive outlook amid the pandemic as its stock jumped over 50 percent in the last six months.