Wipro announces second salary hike for 80% employees from September 1

Wipro Ltd., an IT services major, has notified salary hikes for around 80% of its employees. The hike, which will be initiated from 1st September, 2021, is the second hike that the employees will be receiving in the calendar year, after having received it once in January.

The leading IT, consulting, and business process services company, Wipro is known for its strong commitment to sustainable practices and good corporate citizenship. The conglomerate has brought various hikes in recent times, taking care of its 1,90,000+ employees even in tough times.

The recent hike in Wipro salaries

Wipro has announced Merit Salary Increases (MSI) for all the employees eligible for the hike. The increments are for employees up to Band B3, i.e, Assistant manager and below. This hike will be initiated from September 1, 2021. In January 2021, there was a similar announcement for employees under this band, who form 80% of the company’s workforce.

Wipro salary hike for Managers and above

Further, all employees eligible from and above the C1 band i.e managers and above will also receive pay hikes that will be effective from 1st June, 2021. On an average basis, the increments are towards the high side in single digits for offshore employees, and it is towards the mid-single digits for onsite employees. The company is also said to reward the top performers with significantly higher increases.

What does Wipro have to say?

After the FY21 4th quarter results, the company stated that it will do all it can for retention of talent in the company. During that quarter, Wipro’s attrition rate was approximately 12%. Wipro’s CHRO, Saurabh Govil, shared that their plan of giving out skill-based bonuses to people with the right skills is also underway.

Wipro Campus Recruitment

Saurabh Govil, CHRO, Wipro further mentioned that the company will look for campus recruitment also to keep its supply-side strong. Wipro had hired 10,000 freshers from college campuses, and while it did not specify any hiring targets for the upcoming year, experts predict that IT companies will hire more as they need to keep up with the rising demand.

As Wipro became the second IT services firm to have given more than one salary increment in a year, Tata Consultancy Services (TCS) had also announced salary hikes in short durations. The first hike at TCS was given for FY21 Q3, while the second one was declared in April 2021. Within a span of 6 months, TCS employees received two hikes, which took the average increment rate between 12% and14%.

Salary hikes seem to be good practice for an industry sector that has a high attrition rate to deal with.

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