Wipro has not only been giving good salary increments to people possessing digital skills, but has also revealed plans to promote about 5000 of its employees. The Company is trying to retain younger talent equipped with the digital skills that will be in great demand in the immediate future. This is also the right step at a time when global information technology (IT) firms are setting up teams in the country and poaching digitally skilled employees from Indian companies.
Of late, IT companies have been battling high attrition rates. This is because people with three to five years of experience and knowledge of cloud computing and artificial intelligence-driven operations are in high demand globally.
Wipro paid retention bonus of one lakh rupees to freshers, who were hired directly from campuses and have completed a year with the Company.
Not surprisingly, the attrition rate at Wipro came down to 17 per cent last month, which is much lower than the previous quarters.
Attrition was rampant among junior employees, while the senior ones and the good performers had the attraction of incentives, increments and attractive bonuses to hold them back.
It is reported that employees at L1, that is the junior most level, will be promoted to L2, while the L2 employees will go up to L3.
With the intention of being prepared for future demands, Wipro is strengthening its team by training and re-skilling its employees. The Company also plans to be less dependent on subcontractors in the future.