IT major Wipro is planning to promote around 5,000 employees in the coming quarters, to check attrition and make the IT firm ready for future demand.
“Attrition (rate) has been a good story for us as compared to others. We have given salary hikes and now are looking at a huge number of promotions in the coming quarter. Around 5,000 people in the experience range of five to eight years will get promoted,” Saurabh Govil, HR head, Wipro said.
The move is aimed at checking attrition as the IT industry has seen a higher number of junior staffers leaving their employers in the past quarters. “Junior-level attrition is slightly higher than the company average. However, it is lower among performers as they get higher bonuses, incentives and salary hikes,” Mr. Govil added.
Wipro and its competitor such as Infosys have seen high attrition in the three-five year experience level as there is a global demand for people with such skills. With more customers of these IT services companies shifting to digital technology such as cloud computing led or artificial intelligence-driven operations; companies are rushing to bridge the skills gap.
Wipro had paid a retention bonus of Rs one lakh to freshers who were hired from campuses and have completed one year with the company.
Wipro has reduced attrition in the quarter to September to 17%, lower than previous quarters.
According to Mint report, in the next phase of promotion at Wipro, employees at the L1 level would go to L2 and L2 staff would be promoted to L3. IT firms categorize staffers into various levels starting from L1 (junior-most level) onwards.
