The rising attrition has forced Wipro to ramp up its hiring plan. It now intends to increase its hiring. Earlier, Wipro had announced that it would be hiring about 12,000 freshers from campuses. Now, it has increased that number to 17,000 because attrition has gone up, and the demand is more than the supply.
Voluntary attrition rose to 20.5 per cent from the earlier 15.5 per cent for the Bengaluru-based IT company. In the second quarter, Wipro hired a record 8,100 freshers from campuses. Over the coming six months, another 7,000 will be hired. This year, Wipro took on over 20,000 people in the April – September period, compared to over 2,000 during the same time last year.
Many factors have contributed to the high attrition levels. For one, people have been working online for more than a year and a half now. Therefore, with close to no physical interaction with colleagues and managers, the engagement level is rather low. Also, with the rapid digitisation process in most companies across the globe, there is no dearth of projects for the IT companies. The demand for talent is high, and therefore, lucrative offers are available for the taking with all employers fishing from the same talent pool.
The annual revenue run rate for Wipro crossed the $10 million mark. In Q2, it posted an 18.9 per cent year-on-year (YoY) growth in its consolidated net profit, that is, Rs 2,930 crore, thanks to the lucrative projects it has bagged. Come January, the Company expects most of its employees to return to office.