New Delhi: On Friday, Wipro announced a salary hike for 80% of its eligible employees from September. This is the second hike in 2021. ‘Wipro will initiate merit salary increases (MSI) for all eligible employees up to Band B3 (Assistant manager and below), effective September 1, 2021,’ said a statement from the company. The company announced salary hikes in January 2021 for employees in these bands, who constitute 80 percent of the company’s workforce.
Moreover, Wipro said that all eligible employees above C1 level (managers and above) would receive their pay hikes from June 1. ‘On average, the increments will be in the high single digits for offshore employees while it will be the mid-single digits for onsite employees. The company will reward top performers with a substantially higher increase,’ said the company.
The company posted its Q4 results and stated that it would do whatever was necessary to recruit and retain talented employees. As the attrition rates jumped to 12% in the quarter to March, led Wipro to offer skill-based bonuses, raises for senior leaders and promotions across the organization. Saurabh Govil, CHRO at Wipro said, ‘We are also giving out skill-based bonuses for the people with the right skills, and it is already underway.’
In this fiscal year, TCS was the first to announce a wage increase valid from April 1, 2021. The hikes come at a time when there is a great deal of competition for quality talent. In October last year, HCL gave its employees a salary increase, while Tech Mahindra did the same in January.
Together, the top five companies employ more than 1.24 million people, over a fourth of India’s 4.6 million technology workers.