The company further said it will be recruiting 30,000 freshers from campuses, of whom 22,000 will join the company in FY23. Wipro officials said this is highest number of jobs the company has offered during campus placements in a single fiscal year.
“We have doubled campus hiring and are focusing on reskilling. For FY22, we will onboard 33 per cent more freshers,” Thierry Delaporte, CEO & MD, Wipro, said during a media call. The company acknowledged that attrition is expected to continue for a few quarters, but it is an industry-wide phenomenon and not a company issue.
As demand kicks in and attrition rises, IT services companies are increasing the intake of freshers, instead of depending on lateral hires or sub-contractors that can add pressure to margins. For the first quarter of FY22, Wipro reported an attrition of 15.5 per cent, up from 12 per cent in the previous quarter. The company has taken several steps to contain attrition and retain talent. Almost 80 per cent of the workforce received an early salary hike in this calendar year, and a second round will be done in September. Wipro announced a salary hike in June for professionals in middle and senior positions. Almost 80% of the workforce has seen three cycles of promotion in 12 months, and in the previous quarter, Wipro announced skilled-based bonuses.
The mass hiring also means that Wipro is refocusing on the pyramid structure of people management. “We certainly see the pyramid structure as a core aspect of our margin management. However, this is not new. The revenue growth that we are seeing gives us a new fillip and a renewed opportunity of adding more young engineering talent at the bottom of the pyramid,” said Jatin Dalal, CFO, Wipro.
To read the full story, Subscribe Now at just Rs 249 a month
Already a subscriber? Log in
Subscribe To BS Premium
₹249
Renews automatically
₹1699₹1999
Opt for auto renewal and save Rs. 300 Renews automatically
₹1999
What you get on BS Premium?
-
Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
-
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
Need More Information - write to us at assist@bsmail.in