Wipro's efforts at stemming attrition that was a result of the leadership change that took place last year is paying off.
Wipro's quarterly annualised attrition rate has dropped by more than 9 per cent during the third quarter compared to the first quarter of the current fiscal.
“Attrition has been moving south (from 23.2 per cent in first quarter to 14.2 in third quarter) and this is a very satisfying trend for us. It signifies that the organisation is far more settled after the changes we had,” said Mr Pratik Kumar, Executive Vice-President, HR, Wipro Ltd.
He was referring to the change in leadership effected within the organisation exactly a year ago.
A lot of effort has gone into building the new team and the long-term direction of the organisation and the company now needs to consolidate and build on this, he said.
With growing domestic and Government projects, Mr Kumar said industry talent has gone beyond the mindset that overseas work is desirable.
“Whoever is part and parcel of the industry knows that getting that exposure is a part of the growing and therefore, any kind of project is an opportunity to contribute. In fact, some of our most path breaking projects working for defence area is of immense learning value,” he added.
Salary hikes
Although Wipro announces its annual salary increments in June every year, early indications in the industry are that salary hikes would be in high single digits, he said.
On whether the uncertain economic scenario would change the hiring pattern in the company in terms of more contract staff, Mr Kumar said that large companies have learnt that there are no short-term measures for critical resources.
“You have to train people for a certain delivery mode and you cannot do with people who are there for a short period of time.”
On reports that there is a spurt in lateral hiring in the company, he clarified that Wipro would recruit from outside only for capabilities that are not within the organisation.