The Indian multinational software giant Wipro has announced that the majority of its employees will receive a 10% raise in September in an effort to reduce attrition. On the basis of pay scale, the top performers can even get an increment of more than 15%.
Additionally, the company plans to run promotions every three months. These announcements are a part of Wipro’s efforts to increase the number of young people working there and lower turnover rates. According to reports, promotions will begin in July and continue every quarter up to middle management.
Wipro has seen significant attrition for a long time. It was far higher than other IT majors in the fourth quarter of the fiscal year 2022, at 23.8%. Analysts projected high attrition. Rishad Premji, chairman of Wipro, stated a few weeks ago that the company is more focused on growth today than ever before and that it is counting on alliances, acquisitions, and cloud projects to boost growth in the near future.
Wipro has recently concentrated on Wipro FullStride Cloud Services. In order to provide its stakeholders, including clients, partners, and cloud professionals, with an integrated and comprehensive cloud transformation capacity, Wipro’s chief growth office has partnered with other worldwide business lines.
The IT services provider revealed a month ago that it anticipates expanding its employees in Norway from 85 to 350 over the course of two years. In order to do this, it is also stepping up local investment to provide customers pursuing digital transformation with improved support.