Wipro Ltd has the plan to promote around 5000 employees in the coming quarters to check attrition and make the company ready for future, Business Standard reported on Monday. At the end of September quarter, the Bengaluru based company’s attrition rate stood at 17%, 60 basis points lower than in the previous quarter.
“Attrition (rate) has been a good story for us as compared to others. We have given salary hikes and now are looking at a huge number of promotions in the coming quarter. Around 5,000 people in the experience range of five to eight years will get promoted,” Saurabh Govil, HR head, Wipro said.
The move was aimed at checking attrition as the IT industry has seen a higher number of junior staffers leaving their employers in the past quarters. “Junior-level attrition is slightly higher than the company average. However, it is lower among performers as they get higher bonuses, incentives and salary hikes,” said HR head.
Read EquityPandit’s Wipro Outlook for the Week